118th Congress · SENATE BILLBILL

S. 3441 — Terrorist Financing Prevention Act of 2023

“A bill to prevent Foreign Terrorist Organizations and their financial enablers, whether in currency or digital assets, from accessing financial and other institutions of the United States, and for other purposes.”

Finance and financial sector

Introduced Dec 7, 2023

Last action Feb 8, 2024

Pipeline · Bill → Law

Step 1

Introduced

Dec 7, 2023

Step 2

Referred

Dec 7, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Feb 8, 2024

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires specified sanctions on foreign entities that facilitate financial transactions tied to foreign terrorist organizations. The bill requires the Department of the Treasury to identify any foreign financial institution or foreign digital asset transaction facilitator that (1) has knowingly facilitated a significant financial transaction with a foreign terrorist organization or related person, or (2) has engaged in money laundering to carry out such a transaction. The President must prohibit, or place restrictions on, opening or maintaining a U.S. correspondent or payable-through account by such an institution. Further, the President must prohibit any transactions between any...

Provisions · 5 sectionsIntroduced in Senate

2 provisions

1 provision

Timeline · 3 actions

Feb 8, 2024

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Dec 7, 2023

Introduced in Senate

Dec 7, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.