H.R. 3629 — End Banking for Human Traffickers Act of 2025

This section requires the Financial Institutions Examination Council, in consultation with specified stakeholders including the Secretary of the Treasury, trafficking victims, advocates, and law enforcement, to review and enhance within 180 days of enactment (1) training and examination procedures for anti-money laundering and countering the financing of terrorism programs to detect trafficking-related financial transactions; (2) procedures for referring potential trafficking cases to law enforcement; and (3) financial institution requirements to detect and deter money laundering related to severe forms of trafficking in persons. The section further requires the Interagency Task Force to Monitor and Combat Trafficking to submit to specified congressional committees and federal banking agencies within 270 days of enactment an analysis of U.S. government and financial institution anti-money laundering efforts against such trafficking, along with legislative, administrative, and other recommendations—including feedback on best practices, stakeholder input on policy changes, enhancements to training and information sharing, and statutory updates addressing emerging technologies and virtual currencies. The section includes a limitation clarifying that it does not grant rulemaking authority to the task force or encourage financial institutions to deny services to trafficking victims or non-culpable individuals and incorporates definitions for key terms including "Federal banking agency," "severe forms of trafficking in persons," the task force, and "law enforcement agency."

This section adds a new criterion—paragraph (13)—to the factors considered in determining whether governments of countries are making serious and sustained efforts to eliminate severe forms of trafficking in persons. The new factor assesses whether the government, consistent with the country's capacity, has in effect a framework to prevent financial transactions involving proceeds of such trafficking and is taking steps to implement it, including by investigating, prosecuting, convicting, and sentencing individuals who attempt or conduct such transactions. (These criteria inform the Department of State's annual Trafficking in Persons Report, which ranks countries into tiers and affects eligibility for U.S. assistance.)