§8517 Increased capacity for efforts to combat unlawful or terrorist financing

Summary

Provides money to help the Treasury and Commerce Departments fight illegal and terrorist use of the global financial system. It notes that Treasury’s Office of Terrorism and Financial Intelligence (which includes OFAC and FinCEN) is key to stopping money used for terrorism and weapons of mass destruction. It also says the Treasury Secretary has labeled certain Iranian people and companies as weapons proliferators under Executive Order 13382 (most recently on June 16, 2010), blocking U.S. transactions with them and their supporters, and has added Iran-controlled insurers, petroleum, and petrochemical firms to the Iran rules in 31 CFR part 560, blocking U.S. dealings with those firms. Authorizes $102,613,000 for fiscal year 2011 for Treasury’s Office of Terrorism and Financial Intelligence, and as much money as needed for fiscal years 2012 and 2013. Authorizes $113,000,000 for fiscal year 2011 for the Commerce Department’s Bureau of Industry and Security, and as much money as needed for fiscal years 2012 and 2013.