Sec. 6210. Financial technology assessment
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/bill/116/hr/6395/enr/section-6210·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary, in consultation with financial regulators, technology experts, national security experts, law enforcement, and any other group the Secretary determines is appropriate, shall analyze the impact of financial technology on financial crimes compliance, including with respect to money laundering, the financing of terrorism, proliferation finance, serious tax fraud, trafficking, sanctions evasion, and other illicit finance. In carrying out the duties required under this section, the Secretary shall consult with relevant agency officials and consider other interagency efforts and data relating to examining the impact of financial technology, including activities conducted by— cyber security working groups at the Department of the Treasury; cyber security experts identified by the Attorney General and the Secretary of Homeland Security; the intelligence community; and the Financial Stability Oversight Council.
Not later than 1 year after the date of enactment of this Act, the Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate and the Committee on Financial Services and the Committee on Foreign Affairs of the House of Representatives a report containing any findings under subsection (a), including legislative and administrative recommendations.