What This Bill Does · Plain English
Summary · Congress.gov
Combatting Money Laundering in Cyber Crime Act of 2025 This bill expands the investigative authority of the U.S. Secret Service, extends reporting requirements related to public-private information sharing, and requires the Government Accountability Office (GAO) to evaluate existing requirements to combat money laundering and related crimes. Specifically, the bill authorizes the Secret Service to investigate money laundering and structured transactions (i.e., structuring currency transactions to evade currency reporting requirements). Additionally, the bill extends the requirement for the Financial Crimes Enforcement Network (FinCEN) to report on the efforts of the FinCEN Exchange. The FinCEN Exchange is a voluntary public-private information sharing partnership among law enforcement agencies, national security agencies, financial institutions, and FinCEN to combat money laundering and related crimes, including the financing of terrorism. The bill also extends the requirement for the U.S. executive director at the International Monetary Fund to support the increased use of the fund's administrative budget to help members prevent money laundering and the financing of terrorism. The requirement expires on December 20, 2025. Finally, the bill directs the GAO to report on implementation of provisions of the Anti-Money Laundering Act of 2020 that expanded information sharing with tribal authorities and expanded reporting requirements related to money laundering and terrorist finan
Action Timeline
2025-04-03
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-04-03
Introduced in Senate
Frequently Asked Questions
Did S.1273 pass?
S.1273 is still alive. Current stage: COMMITTEE. Pass likelihood: 59%.
What does S.1273 do?
Combatting Money Laundering in Cyber Crime Act of 2025 This bill expands the investigative authority of the U.S. Secret Service, extends reporting requirements related to public-private information sharing, and requires the Government Accountability Office (GAO) to evaluate existing requirements to combat money laundering and related crimes. Specifically, the bill authorizes the Secret Service to investigate money laundering and structured transactions (i.e., structuring currency transactions to evade currency reporting requirements). Additionally, the bill extends the requirement for the Fina…
Who sponsored S.1273?
S.1273 was sponsored by Catherine Cortez Masto (D-Nevada).
Full Bill Text
116 S1273 IS: Combatting Money Laundering in Cyber Crime Act of 2025 U.S. Senate 2025-04-03 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. II 119th CONGRESS 1st Session S. 1273 IN THE SENATE OF THE UNITED STATES April 3, 2025 Ms. Cortez Masto (for herself and Mr. Grassley ) 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. 1. Short title This Act may be cited as the Combatting Money Laundering in Cyber Crime Act of 2025 . 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 money laundering, structured transactions, after documents or devices, ; (B) by striking federally insured ; and (C) by inserting , as defined in section 5312 of title 31 after institution . 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 . 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 . 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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