Preventing Illicit Finance Through Partnership Act of 2024
Latest action · Jan 17, 2024 Read twice and referred to the Committee on the Judiciary.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 17, 2024
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Preventing Illicit Finance Through Partnership Act of 2024
This bill establishes a pilot program to facilitate information sharing between federal entities and private sector entities regarding illicit finance (i.e., financial transactions involving the proceeds of unlawful activity as specified by the bill).
Specifically, the Department of Justice (DOJ) must establish a pilot program for information sharing between the private sector and the DOJ, the Financial Crimes Enforcement Network (FinCEN), and the Department of Homeland Security (DHS) about potential violations, threats, and risks regarding illicit finance.
The DOJ, in consultation with FinCEN and DHS, must designate private sector entities in the money service business and in the crypto asset industry to participate in the pilot program. Additionally, one or more information sharing and analysis centers may also be selected to participate in the pilot program. Participation in the pilot program is voluntary.
The bill limits the liability of designated private sector entities in the context of sharing or disclosing information under this bill.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jan 17, 2024.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-WY | Cynthia M. Lummis | Original | Jan 17, 2024 |
Actions 2
Everything that happened, newest first.
- Jan 17, 2024Introduced in Senate
- Jan 17, 2024Read twice and referred to the Committee on the Judiciary.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jan 17, 2024Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.