S 691
Taylor Force Martyr Payment Prevention Act of 2023
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- Passed House
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- Became Law
Bill overview
This bill, the Taylor Force Martyr Payment Prevention Act of 2023, aims to prevent foreign financial institutions from supporting terrorist organizations. It strengthens the Treasury Department’s ability to identify and penalize banks that knowingly provide services to groups like Hamas or facilitate payments for acts of terrorism against U.S. and Israeli citizens. The legislation focuses on examining whether financial institutions are using correspondent accounts in the United States to benefit these organizations. Ultimately, the goal is to deter these practices and protect U.S. citizens and interests.
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