Sec. 7154. STRENGTHENING THE ROLE OF ANTI-MONEY LAUNDERING AND OTHER FINANCIAL TOOLS IN COMBATING HUMAN TRAFFICKING
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## SEC. 7154 STRENGTHENING THE ROLE OF ANTI-MONEY LAUNDERING AND OTHER FINANCIAL TOOLS IN COMBATING HUMAN TRAFFICKING ###
(a)Interagency Task Force Recommendations Targeting Money Laundering Related to Human Trafficking ####
(1)In general Not later than 270 days after the date of the enactment of this Act, the Interagency Task Force to Monitor and Combat Trafficking, with the concurrence of the Secretary of State and the Secretary of the Treasury, shall submit to the Committee on Banking, Housing, and Urban Affairs, the Committee on Foreign Relations, and the Committee on the Judiciary of the Senate, the Committee on Financial Services, the Committee on Foreign Affairs, and the Committee on the Judiciary of the House of Representatives, and each appropriate Federal banking agency— #####
(A)an analysis of anti-money laundering efforts of the United States Government, United States financial institutions, and international financial institutions (as defined in section 1701(c) of the International Financial Institutions Act (22 U.S.C. 262r(c))) related to human trafficking; and #####
(B)appropriate legislative, administrative, and other recommendations to strengthen efforts against money laundering related to human trafficking. ####
(2)Required recommendations The recommendations under paragraph
(1)shall include— #####
(A)best practices based on successful anti-human trafficking programs currently in place at domestic and international financial institutions that are suitable for broader adoption; #####
(B)feedback from stakeholders, including victims of severe forms of trafficking in persons, advocates of persons at risk of becoming victims of severe forms of trafficking in persons, the United States Advisory Council on Human Trafficking, civil society organizations, and financial institutions on policy proposals derived from the analysis conducted by the task force referred to in paragraph
(1)that would enhance the efforts and programs of financial institutions to detect and deter money laundering related to human trafficking, including any recommended changes to internal policies, procedures, and controls related to human trafficking; #####
(C)any recommended changes to training programs at financial institutions to better equip employees to deter and detect money laundering related to human trafficking; and #####
(D)any recommended changes to expand human trafficking-related information sharing among financial institutions and between such financial institutions, appropriate law enforcement agencies, and appropriate Federal agencies. ###
(b)Additional Reporting Requirement Section 105(d)(7) of the Trafficking Victims Protection Act of 2000 (22 U.S.C. 7103(d)(7)) is amended— ####
(1)in the matter preceding subparagraph (A)— #####
(A)by inserting “the Committee on Financial Services,” after “the Committee on Foreign Affairs”; and #####
(B)by inserting “the Committee on Banking, Housing, and Urban Affairs,” after “the Committee on Foreign Relations,”; ####
(2)in subparagraph (Q)(vii), by striking “; and” and inserting a semicolon; ####
(3)in subparagraph (R), by striking the period at the end and inserting “; and”; and ####
(4)by adding at the end the following: > > ##### “(S) > > the efforts of the United States to eliminate money laundering related to human trafficking and the number of investigations, arrests, indictments, and convictions in money laundering cases with a nexus to human trafficking.” > . ###
(c)Required Review of Procedures **[**[12 U.S.C. 3305 note](/us/usc/t12/s3305)**]** Not later than 180 days after the date of the enactment of this Act, the Federal Financial Institutions Examination Council, in consultation with the Secretary of the Treasury, victims of severe forms of trafficking in persons, advocates of persons at risk of becoming victims of severe forms of trafficking in persons, the United States Advisory Council on Trafficking, civil society organizations, the private sector, and appropriate law enforcement agencies, shall— ####
(1)review and enhance training and examination procedures to improve the surveillance capabilities of anti-money laundering programs and programs countering the financing of terrorism to detect human trafficking-related financial transactions; ####
(2)review and enhance procedures for referring potential human trafficking cases to the appropriate law enforcement agency; and ####
(3)determine, as appropriate, whether requirements for financial institutions and covered financial institutions are sufficient to detect and deter money laundering related to human trafficking. ###
(d)Limitations **[**[12 U.S.C. 3305 note](/us/usc/t12/s3305)**]** Nothing in this section shall be construed to— ####
(1)grant rulemaking authority to the Interagency Task Force to Monitor and Combat Trafficking; or ####
(2)authorize financial institutions to deny services to or violate the privacy of victims of trafficking, victims of severe forms of trafficking, or individuals not responsible for promoting severe forms of trafficking in persons.
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Sec. 7154
STRENGTHENING THE ROLE OF ANTI-MONEY LAUNDERING AND OTHER FINANCIAL TOOLS IN COMBATING HUMAN TRAFFICKING
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