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![handle is hein.congrecreports/crptxafwc0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-334
HOLDING IRANIAN LEADERS ACCOUNTABLE ACT OF 2023
DECEMBER 19, 2023.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 6245]
The Committee on Financial Services, to whom was referred the
bill (H.R. 6245) to require the Secretary of the Treasury to report
on financial institutions' involvement with officials of the Iranian
Government, and for other purposes, having considered the same,
reports favorably thereon with an amendment and recommends
that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Holding Iranian Leaders Accountable Act of 2023.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) Iran is characterized by high levels of official and institutional corruption,
and substantial involvement by Iran's security forces, particularly the Islamic
Revolutionary Guard Corps (IRGC), in the economy.
(2) The Department of Treasury in 2019 designated the Islamic Republic of
Iran's financial sector as a jurisdiction of primary money laundering concern,
concluding, Iran has developed covert methods for accessing the international
financial system and pursuing its malign activities, including misusing banks
and exchange houses, operating procurement networks that utilize front or shell
companies, exploiting commercial shipping, and masking illicit transactions
using senior officials, including those at the Central Bank of Iran (CBI)..
(3) In June 2019, the Financial Action Task Force (FATF) urged all jurisdic-
tions to require increased supervisory examination for branches and subsidi-
aries of financial institutions based in Iran. The FATF later called upon its
members to introduce enhanced relevant reporting mechanisms or systematic
reporting of financial transactions, and require increased external audit require-
ments, for financial groups with respect to any of their branches and subsidi-
aries located in Iran.
(4) According to the State Department's Country Reports on Terrorism in
2021, Iran continued to be the leading state sponsor of terrorism, facilitating
a wide range of terrorist and other illicit activities around the world. Regionally,
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