Bicameral Bill Aims to Curb Trade-Based Money Laundering
Rep. August Pfluger, R-Texas, and Sen. Tim Sheehy, R-Mont., introduced a bill Jan. 8 aimed at improving the ability of the U.S. and its allies to counter trade-based money laundering.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
The Trade Transparency Unit Strategy Act would call for developing a strategy to expand and improve information sharing between U.S. and foreign customs agencies through Immigration and Customs Enforcement’s Trade Transparency Units (TTUs). The strategy would address “various challenges” in the TTU program, “including lapses in information sharing, mismatched priorities, and limitations in the outdated data system used by ICE and the TTUs,” a Pfluger press release says.
The bill was referred to the House Ways and Means Committee and the Senate Finance Committee.