H.R. 3629: End Banking for Human Traffickers Act of 2025

This legislation, known as the End Banking for Human Traffickers Act of 2025, aims to enhance the role of the financial industry in the fight against human trafficking, specifically focusing on severe forms of trafficking. Below are the key components of the bill:

1. Review of Financial Procedures

The Financial Institutions Examination Council, in partnership with the Secretary of the Treasury and other stakeholders, must conduct a review of the existing procedures within 180 days of the bill's enactment. This review will involve:

• Improving training and examination procedures for anti-money laundering and counter-terrorism financing programs to better identify financial transactions linked to severe trafficking.
• Enhancing processes for referring potential trafficking cases to the appropriate law enforcement agencies.
• Assessing whether current requirements for financial institutions are adequate in preventing money laundering related to severe trafficking.

2. Recommendations from an Interagency Task Force

Within 270 days after the enactment of this bill, the Interagency Task Force To Monitor and Combat Trafficking is required to submit recommendations. These recommendations must include:

• An analysis of the effectiveness of U.S. anti-money laundering efforts related to severe trafficking.
• Suggestions for legislative and administrative actions that could improve the fight against money laundering linked to trafficking.
• Feedback from financial institutions on best practices that successfully combat severe trafficking, which could be applied more broadly.
• Input from victims and advocates to inform policy proposals that strengthen institutional capacities to detect and prevent trafficking-related money laundering.
• Recommendations for improving training programs at financial institutions to better equip employees in identifying and addressing trafficking-related issues.
• Suggestions for enhancing information-sharing protocols among financial institutions and law enforcement to better manage trafficking-related cases.
• Any necessary adjustments to existing laws to adapt to new financial technologies that could be misused in trafficking activities.

3. Limitations of the Bill

The bill clarifies that it does not grant the Interagency Task Force any rulemaking authority and explicitly states that financial institutions should not deny services to victims of trafficking or those unjustly associated with trafficking activities.

4. Definitions and Amendments

The bill includes definitions for key terms such as "Federal banking agency," "severe forms of trafficking in persons," and "law enforcement agency." Additionally, it amends the Trafficking Victims Protection Act of 2000 to require an assessment of whether countries are taking steps to prevent financial transactions that involve proceeds from severe trafficking.

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