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119-hr-1577119th CongressWALLET

Stop Fentanyl Money Laundering Act of 2025

Sponsored By: Representative Ogles, Andrew [R-TN-5]

In Committee

Summary

Would give the Treasury authority to designate foreign banks as primary money-laundering concerns for fentanyl and require U.S. banks to take special anti-money-laundering measures. It would also allow courts to receive classified evidence privately and apply protections and penalties from the 2021 National Defense Authorization Act to related reports and violations.

Show full summary
  • Foreign financial institutions operating outside the United States could be designated as tied to illicit fentanyl and narcotics financing, triggering special measures.
  • Domestic financial institutions and domestic financial agencies could be required to take one or more special measures under 31 U.S.C. 5318A(b).
  • In judicial review, classified information may be submitted ex parte and in camera, which affects how challenges are litigated.
  • Reports filed under these requirements would receive the same disclosure exemptions and penalties that apply under the NDAA for Fiscal Year 2021.
  • The Secretary of the Treasury could bring civil actions to enjoin violations using the authority described in the NDAA for Fiscal Year 2021.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

New Treasury powers to block fentanyl money

If enacted, Treasury could name foreign banks, transactions, account types, or places as primary laundering concerns tied to fentanyl. U.S. banks and agencies would then have to follow special measures listed in 31 U.S.C. 5318A(b). If actions were based on classified data, Treasury could give that material to a judge in secret (ex parte, in camera). This would not create a right to court review. Penalties from the 2021 defense law would apply, and Treasury could sue to stop violations. Certain reports would be exempt from public release under FOIA. These rules would apply on enactment; special measures would start when Treasury makes a finding.

Banks get new FinCEN anti-laundering guidance

FinCEN would have to guide U.S. banks within 180 days on when to file reports about suspected transnational narcotics trafficking. FinCEN would prioritize reviewing those flagged reports. Within one year, FinCEN would issue an updated advisory to help spot Chinese professional money laundering tied to fentanyl and synthetic opioids. The advisory would incorporate FIN-2014-A005, FIN-2010-A001, and FIN-2019-A006.

Sponsors & CoSponsors

Sponsor

Ogles, Andrew [R-TN-5]

TN • R

Cosponsors

  • Rep. De La Cruz, Monica [R-TX-15]

    TX • R

    Sponsored 2/25/2025

  • Rep. Meuser, Daniel [R-PA-9]

    PA • R

    Sponsored 2/25/2025

  • Rep. Nunn, Zachary [R-IA-3]

    IA • R

    Sponsored 2/25/2025

  • Rep. Kim, Young [R-CA-40]

    CA • R

    Sponsored 2/25/2025

  • Rep. Sessions, Pete [R-TX-17]

    TX • R

    Sponsored 2/25/2025

  • Rep. Fields, Cleo [D-LA-6]

    LA • D

    Sponsored 2/25/2025

  • Rep. Moore, Tim [R-NC-14]

    NC • R

    Sponsored 3/3/2025

  • Rep. Barr, Andy [R-KY-6]

    KY • R

    Sponsored 3/3/2025

  • Rep. Lawler, Michael [R-NY-17]

    NY • R

    Sponsored 3/10/2025

Roll Call Votes

No roll call votes available for this bill.

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