S 3876
Special Measures to Fight Modern Threats Act
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- Passed Senate
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Bill overview
This bill, the Special Measures to Fight Modern Threats Act, aims to strengthen the Financial Crimes Enforcement Network’s (FinCEN) ability to combat money laundering and other financial crimes. It allows FinCEN to place prohibitions or conditions on the movement of funds involving certain jurisdictions, financial institutions, or transactions that are deemed high-risk for money laundering. The bill responds to evolving financial technologies and the increasing use of digital assets and informal value transfer systems by bad actors, including those involved in ransomware attacks.
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