S 3603
Preventing Illicit Finance Through Partnership Act of 2024
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- Passed Senate
- Passed House
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- Became Law
Bill overview
This bill creates a pilot program to improve information sharing between federal agencies like the Department of Justice, FinCEN, and Homeland Security, and private sector companies involved in money services and crypto assets. The goal is to combat illicit finance, which includes activities like money laundering and fraud involving cryptocurrencies. The program will initially designate 20 private sector entities for participation, with regular reviews to ensure they remain relevant, and participants will be protected from liability for sharing information.
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