Illicit Finance Improvements Act

2021-12-23

Introduced in House

Illicit Finance Improvements Act

This bill establishes procedures, sets forth penalties, and allows for injunctive relief related to a determination that a financial institution or type of account is of primary money laundering concern in connection with Russian illicit finance.

The bill also revises the permitted meeting subjects of Treasury's supervisory team on cooperation between the public and private sectors for purposes of countering illicit finance to include advising on strategies to counter sanctions evasion.

]]>

text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.