S. 3801: Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2026
This bill, known as the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2026, proposes several amendments and new provisions to strengthen laws against money laundering, terrorist financing, and counterfeiting in the United States. Below are the key components of the bill:
Transportation of Blank Checks
The bill amends existing laws to classify a blank bearer check, which is held to avoid reporting requirements, as having a value over $10,000 if associated with an account intended to contain that amount at the time of transport or negotiation.
Bulk Cash Smuggling
It increases the penalties for bulk cash smuggling. Currently, the maximum prison sentence is 5 years, but this bill raises it to 10 years. It also introduces provisions for enhanced fines in cases of aggravated violations.
Prosecution of Money Laundering
The bill allows for the prosecution of money laundering to be charged as a continuous course of conduct. This means that multiple related offenses can be charged together, allowing for a more comprehensive approach in legal actions against offenders.
Illegal Money Services Businesses
The bill revises the definitions and penalties for illegally operating money services businesses. It establishes fines and up to 10 years of imprisonment for serious violations, especially when over $1 million is involved in a 12-month period.
Informal Value Transfer Systems
It includes prohibitions against money laundering using hawalas and other informal value transfer systems, expanding the legal scope to encompass these operations more effectively.
Wiretap Authority
The bill restores wiretap authority for law enforcement related to specific money laundering and counterfeiting offenses, thereby enhancing investigative capabilities.
International Money Laundering and Tax Evasion
The bill would extend the international money laundering statute to cover tax evasion, making it illegal to engage in money laundering linked to tax-related activities.
Counterfeiting Provisions
It strengthens laws against counterfeiting by broadening definitions and enhancing penalties, particularly for equipment used in forgery and counterfeiting activities.
Foreign Operations Clarity
The bill clarifies the authority of the Secret Service to investigate money laundering activities and includes safeguards for their operations in this regard.
Remittances Analysis
It mandates an analysis by the Secretary of the Treasury regarding the role of remittances in financing various criminal activities, requiring periodic reporting and strategy development based on the findings to mitigate threats.
Rule of Construction
Finally, the bill includes a clause that clarifies that authorized law enforcement, protective, or intelligence activities are not affected by the provisions established in this Act.
Relevant Companies
- FTNT (Fortinet, Inc.): Fortinet may experience impacts due to increased regulatory scrutiny and demand for enhanced cybersecurity measures to prevent financial crimes.
- MCFE (McAfee Corp.): Similar to Fortinet, McAfee could see heightened interest in their cybersecurity offerings related to compliance with new anti-money laundering provisions.
- V (Visa Inc.): Visa might be directly impacted, as the bill could lead to increased compliance requirements for money transfer services and related transaction monitoring.
- MSTR (MicroStrategy Incorporated): With the expansion of the legal scope regarding informal financing systems, businesses like MicroStrategy may face additional scrutiny related to their transactions and financial reporting.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
2 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| Feb. 05, 2026 | Introduced in Senate |
| Feb. 05, 2026 | Read twice and referred to the Committee on the Judiciary. |
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