Financial Access Improvements Act
This bill adds a requirement to the President's annual international narcotics control strategy report, which currently includes information on adoption of law and regulations to prevent narcotics-related money laundering in countries determined to be major money laundering countries. The additional requirement is to provide examples of improvement in each country in preventing narcotics-related money laundering, where such information is available.
The President shall also consult with the Department of the Treasury on parts of the report related to money laundering and provide each country identified as a major money laundering country an opportunity to provide comments on the draft report.
The bill also requires Treasury to consult with Federal banking agencies, the Financial Institutions Examination Council, and the Bank Secrecy Act Advisory Group and report to Congress on how to build more consistent Bank Secrecy Act exams across those agencies.
H. Rept. 118-805, Part I.
H. Rept. 118-805, Part I.