Combatting Money Laundering in Cyber Crime Act of 2025
Sponsored By: Representative Fitzgerald
In Committee
Summary
Expands the Secret Service's power to investigate money laundering linked to digital assets and cybercrime. It would also extend FinCEN's information horizon and require a GAO study of law enforcement's ability to track cybercrime-related money laundering.
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- The US Secret Service would gain authority over crimes tied to digital-asset transactions and transnational cybercrime, explicitly covering money laundering and structured transactions and adding 1960 to the offenses listed in 18 U.S.C. 3056(b).
- The bill broadens which firms fall under that authority by removing the "federally insured" qualifier and tying the term "financial institution" to the definition in 31 U.S.C. 5312, widening the scope of examinable institutions and transactions.
- It would extend the FinCEN Exchange horizon from 5 years to 10 years and raise a numeric threshold in the Otto Warmbier sanctions provision from 6 to 10. The Government Accountability Office would have 1 year to report on implementation of section 6102 of the Anti-Money Laundering Act and evaluate enforcement against money laundering in cybercrimes.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
More Secret Service power over cybercrime
If enacted, this bill would let the U.S. Secret Service investigate more crimes tied to digital-asset transactions and cybercrime. It would add 18 U.S.C. 1960 to the Secret Service's list and expand its authority to include money laundering and structured transactions, and to apply to institutions defined in 31 U.S.C. 5312 rather than only 'federally insured' institutions. The bill would also let FinCEN keep certain Exchange records for 10 years instead of 5. It would require the GAO to study implementation of recent AML rules and report to Congress within one year. Households and businesses could face more investigations and longer data retention under these rules.
More institutions covered by sanctions
If enacted, this bill would change one numeric value in a North Korea sanctions law from 6 to 10. This would alter which international financial institutions or entities the statutory provision covers. Most households would likely not feel a direct effect from this change.
Sponsors & CoSponsors
Sponsor
Fitzgerald
WI • R
Cosponsors
Rep. Pettersen, Brittany [D-CO-7]
CO • D
Sponsored 10/31/2025
Rep. Nunn, Zachary [R-IA-3]
IA • R
Sponsored 10/31/2025
Rep. Sherman, Brad [D-CA-32]
CA • D
Sponsored 10/31/2025
Roll Call Votes
No roll call votes available for this bill.
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