H.R. 10391: National Risk Assessments Extension Act

This bill would update an existing law so that the federal government keeps producing national reports and strategy documents on money laundering, terrorist financing, and related illegal finance risks.

What the bill changes

• It renames the practical focus of the required strategy from older “terrorist and other illicit financing” documents to newer risk assessment documents.
• It replaces references to the 2020 National Strategy for Combating Terrorist and Other Illicit Financing and the 2022 National Strategy for Combating Terrorist and Other Illicit Financing with references to three 2026 risk assessments:
  • the 2026 National Money Laundering Risk Assessment
  • the 2026 National Terrorist Financing Risk Assessment
  • the 2026 National Proliferation Financing Risk Assessment
• It also extends two date references in the underlying law by changing:
  • 2024 to 2028
  • 2026 to 2030
  These changes appear to push out deadlines or reporting cycles tied to the national strategy requirements.

Plain-English effect

In simple terms, the bill would keep the government’s anti-money-laundering and counter-terror-financing planning process going for longer, and it would make the required strategy rely on updated risk assessments rather than older strategy documents.

The bill does not create a new program from scratch or directly impose specific new penalties in the text provided. Instead, it updates existing federal reporting and strategy requirements so they align with newer assessments of financial crime and illicit finance risks.

Relevant Companies

• None found