Sec. 310. Study and strategy on Chinese money laundering
144 words·~1 min read·
/bill/116/s/2563/is/section-310·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary shall carry out a study on— the extent and effect of illicit finance risk relating to the Government of the People’s Republic of China and Chinese firms; and the ways in which the increasing amount of global trade and investment by the Government of the People’s Republic of China and Chinese firms expose the international financial system to increased risk relating to illicit finance. Upon the completion of the study required under subsection (a), the Secretary shall, in consultation with such other Federal departments and agencies as the Secretary determines appropriate, develop a strategy to combat Chinese money-laundering activities.
Not later than 1 year after the date of enactment of this Act, the Secretary shall submit to Congress a report containing— all findings and determinations made in carrying out the study required under subsection (a); and the strategy developed under subsection (b).