Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2026
Sponsored By: Senator Sen. Grassley, Chuck [R-IA]
Introduced
Summary
This bill would tighten enforcement and penalties for money laundering, terrorist financing, and counterfeiting. It would expand liability for money services businesses, raise criminal penalties and investigative tools, and require Treasury remittance threat analyses and strategies.
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- Money services businesses and the financial sector would face a new, broader "covered money services business" offense for unlicensed activity, registration failures, or handling criminal funds. The bill doubles fines and raises penalties for large-scale MSB activity over $1,000,000 in a 12-month period.
- Criminal defendants and prosecutors would see tougher tools and penalties. The bill raises the base prison term for bulk cash smuggling from 5 years to 10 years and lets the government meet the $10,000 transaction threshold by aggregating commingled or related small transactions. It also allows charging multiple laundering violations for a single scheme and expands wiretap authority and related cross-references.
- People who send remittances and federal agencies would face new reporting and protection changes. Treasury must finish a remittances threat analysis within 1 year and a Remittances Strategy within 180 days after that. The bill also strengthens counterfeiting offenses and extends Danger Pay allowances to the U.S. Marshals Service, U.S. Immigration and Customs Enforcement, U.S. Customs and Border Protection, and the U.S. Secret Service while clarifying Secret Service authority to investigate money laundering.
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
Danger Pay expanded to four agencies
If enacted, the bill would add the U.S. Marshals Service, ICE, CBP, and the Secret Service to agencies eligible for Danger Pay allowances. If you work for one of those agencies, you would become eligible for Danger Pay. The bill does not set the payment amounts.
Protects authorized law enforcement activities
If enacted, the bill would say that nothing in this Act or its amendments applies to authorized law enforcement, protective, or intelligence activities of the United States or its intelligence agencies. It would preserve existing authorities for those agencies and limit other parts of the bill from applying to them.
Stricter counterfeiting crimes and penalties
If enacted, the bill would add new counterfeiting crimes and raise penalties. It would ban possessing or controlling tools, machines, or materials used to make counterfeit U.S. or foreign obligations when done with intent to defraud. The bill would also make possession of currency or securities with anti-counterfeit ink removed a Class B felony except under Treasury authority.
Stronger money-laundering and money service rules
If enacted, this bill would broaden how prosecutors pursue money laundering. It would allow treating some tax-evasion acts as money laundering by adding Internal Revenue Code offenses. For the $10,000 rule, the government could count more than $10,000 in commingled funds or many closely related sub-$10,000 transactions that add up to over $10,000. The bill would create a new federal offense for unlicensed or unregistered money services businesses and raise penalties when such businesses move over $1,000,000 in 12 months. It would raise the maximum prison term for bulk cash smuggling to 10 years, expand wiretap authority for related offenses, and treat some blank bearer instruments as worth over $10,000 for reporting.
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Sponsors & CoSponsors
Sponsor
Sen. Grassley, Chuck [R-IA]
IA • R
Cosponsors
Amy Klobuchar
MN • D
Sponsored 2/5/2026
Roll Call Votes
No roll call votes available for this bill.
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