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U.S. GOVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-905
IMPROVING STRATEGIES TO COUNTER WEAPONS
PROLIFERATION ACT
AUGUST 24, 2018.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 6332]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 6332) to require the Director of the Financial Crimes En-
forcement Network to submit a report to Congress on the way in
which data collected pursuant to title 31 is being used, and for
other purposes, having considered the same, report favorably there-
on without amendment and recommend that the bill do pass.
PURPOSE AND SUMMARY
On July 12, 2018, Representative Scott Tipton introduced H.R.
6332, the Improving Strategies to Counter Weapons Proliferation
Act. The legislation would require the Financial Crime Enforce-
ment Network (FinCEN) to report to Congress annually for five
years on the intelligence products it generates from Bank Secrecy
Act (BSA) filings on proliferation finance transactions moving
through the U.S. financial system; its collaboration with law en-
forcement agencies, the Intelligence Community, and foreign finan-
cial intelligence units; and on its advisory reports issued to finan-
cial institutions to make maximum use of BSA data.
BACKGROUND AND NEED FOR LEGISLATION
H.R. 6332 amends Section 310 of title 31, United States Code, to
require the Director of the Financial Crime Enforcement Network
(FinCEN) to report to Congress annually for five years on the fi-
nancing of weapons proliferation and to provide guidance to finan-
cial institutions on how to best identify procurement patterns and
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