[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 4830 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 4830

  To strengthen the authority of the United States Secret Service to 
investigate various crimes related to digital asset transactions and to 
  counter transnational cyber criminal activity, including unlicensed 
   money transmitting businesses, structured transactions, and fraud 
        against financial institutions, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 29, 2024

    Ms. Cortez Masto (for herself, Mr. Grassley, and Ms. Klobuchar) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To strengthen the authority of the United States Secret Service to 
investigate various crimes related to digital asset transactions and to 
  counter transnational cyber criminal activity, including unlicensed 
   money transmitting businesses, structured transactions, and fraud 
        against financial institutions, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Combatting Money Laundering in Cyber 
Crime Act of 2024''.

SEC. 2. EXPANSION OF UNITED STATES SECRET SERVICE INVESTIGATIVE 
              AUTHORITIES.

    Section 3056(b) of title 18, United States Code, is amended--
            (1) in paragraph (1), by striking ``or'' after ``871'' and 
        inserting ``, or 1960'' after ``879''; and
            (2) in paragraph (3)--
                    (A) by inserting ``structured transactions,'' after 
                ``devices,'';
                    (B) by striking ``federally insured''; and
                    (C) by inserting ``, as defined in section 5312 of 
                title 31'' after ``institution''.

SEC. 3. FINCEN EXCHANGE.

    Section 310(d)(3)(A) of title 31, United States Code, is amended, 
in the matter preceding clause (i), by striking ``5 years'' and 
inserting ``10 years''.

SEC. 4. INTERNATIONAL FINANCIAL INSTITUTIONS.

    Section 7125(b) of the Otto Warmbier North Korea Nuclear Sanctions 
and Enforcement Act of 2019 (22 U.S.C. 262p-13 note) is amended by 
striking ``6'' and inserting ``10''.

SEC. 5. REPORT.

    (a) In General.--Not later than 1 year after the date of enactment 
of this Act, the Government Accountability Office shall conduct a study 
and submit to the appropriate committees of Congress a report on the 
implementation of section 6102 of the Anti-Money Laundering Act of 2020 
(title LXI of division F of the William M. (Mac) Thornberry National 
Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283; 134 
Stat. 4552)).
    (b) Focus.--In conducting the study under subsection (a), the 
Government Accountability Office shall focus on evaluating the ability 
of law enforcement to identify and deter money laundering in cyber 
crimes.
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