ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 3004: Financial Anti-Terrorism Act of 2001   [open pdf - 22KB]

"H.R. 3004 would expand the powers of federal financial regulators to prevent money laundering, internet gambling, and smuggling of currency. It also would establish new federal crimes relating to such acts. H.R. 3004 would authorize the appropriation of such sums as necessary for each of fiscal years 2002 through 2005 for the Financial Crimes Enforcement Network (FINCEN), an agency in the Department of the Treasury that collects data from banks and other financial institutions and serves as a clearinghouse for financial intelligence. The bill would authorize the Secretary of the Treasury, through financial regulators, to impose special requirements on U.S. financial institutions if the Secretary suspects the transactions of their foreign clients are tied to money laundering."

Publisher:
Date:
2001-10-16
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://cbo.gov
Format:
pdf
Media Type:
application/pdf
URL:
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