Freezing Assets of Suspected Terrorists and Enemy Recruits Act of 2017 or the FASTER Act of 2017
This bill directs a federal law enforcement agency to notify the Financial Crimes Enforcement Network (FinCEN) in the Department of the Treasury of an arrest of an individual under suspicion of participating in domestic terrorism or providing material support for terrorism. FinCEN must then order any appropriate financial institution to freeze that individual's assets.
The bill also sets forth provisions for contesting a freeze, unfreezing assets, and disposing of assets in the event of a conviction.
The Federal Bureau of Investigation must establish a national clearinghouse of incidents of homegrown "lone wolf" terrorism, domestic terrorism, and the provision of material support to terrorists. The clearinghouse must maintain information for purposes of cross-referencing and assisting investigations of law enforcement agencies.