§8517 Increased Capacity for Efforts to Combat Unlawful or Terrorist Financing

Summary

Authorizes money for two agencies and records Congress’s findings about actions against Iran. It says the Treasury’s Office of Terrorism and Financial Intelligence (including OFAC and FinCEN) is important to stop the world’s financial system from being used for terrorism or weapons of mass destruction. The Treasury Secretary has, most recently on June 16, 2010, named various Iranian people and organizations in banking, military, energy, shipping, insurance, petroleum, and petrochemicals as WMD proliferators under Executive Order 13382 and has blocked U.S.-jurisdiction transactions by them and their supporters. The Secretary also added certain Iran-controlled companies to Appendix A of the Iranian Transactions Regulations (31 C.F.R. part 560), banning transactions between U.S. persons and those companies. The law lets the Treasury office have $102,613,000 for fiscal year 2011 and whatever amounts are needed for fiscal years 2012 and 2013. It lets the Commerce Department’s Bureau of Industry and Security have $113,000,000 for fiscal year 2011 and whatever amounts are needed for fiscal years 2012 and 2013.