HR 1577 119th Congress House Finance and Financial Sector Asia China Civil actions and liability Congressional oversight Currency Drug trafficking and controlled substances Fraud offenses and financial crimes Government studies and investigations International monetary system and foreign exchange Latin America Mexico Organized crime Terrorism

Stop Fentanyl Money Laundering Act of 2025

Introduced: February 25, 2025 Introduced by: Ogles, Andrew Republican · Tennessee See on congress.gov

Everywhere this bill has been 6 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 21, 2025

Placed on the Union Calendar, Calendar No. 12.

Mar 21, 2025

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-22.

Mar 5, 2025

Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.

Mar 5, 2025

Committee Consideration and Mark-up Session Held

Feb 25, 2025

Referred to the House Committee on Financial Services.

Feb 25, 2025

Introduced in House

Plain-English summary Congressional Research Service

Stop Fentanyl Money Laundering Act of 2025

This bill expands efforts to prevent money laundering related to international fentanyl and narcotics distribution.

The bill allows the Department of the Treasury to impose restrictions on an entity or activity determined to be of primary money-laundering concern in connection with illicit fentanyl and narcotics trafficking. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity.

The Financial Crimes Enforcement Network (FinCEN) must issue advisories to financial institutions about how to identify Chinese money laundering that facilitates the trafficking of fentanyl and other synthetic opioids. FinCEN must also issue guidance to financial institutions for filing suspicious transaction reports related to suspected narcotics trafficking by transnational criminal organizations.

What's happening now March 21, 2025

Placed on the Union Calendar, Calendar No. 12.

Cosponsors 9