OFAC Licensure for Investigators Act
4/12/2025, 1:06 PMSummary of Bill HR 1450
Bill 119 HR 1450, also known as the "Private Sector Financial Transactions for Investigations Act," aims to require the Office of Foreign Assets Control (OFAC) to establish a program that allows private sector companies to obtain a license to conduct small financial transactions as part of their investigations. This bill is designed to streamline the process for private firms to gather necessary financial information in order to investigate potential violations of sanctions or other financial crimes.The program outlined in the bill would enable private sector firms to apply for a license from OFAC to conduct nominal financial transactions that are essential to their investigations. This would provide these firms with the necessary tools to effectively gather information and evidence related to potential violations of sanctions or other financial crimes.
The bill also includes provisions for the protection of sensitive information obtained through these transactions, ensuring that the privacy and security of individuals and entities involved in the investigations are safeguarded. Overall, Bill 119 HR 1450 seeks to enhance the capabilities of private sector firms to investigate and address potential violations of sanctions and other financial crimes by providing them with a streamlined process to conduct necessary financial transactions.
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Current Status of Bill HR 1450
Bill HR 1450 is currently in the status of Bill Introduced since February 21, 2025. Bill HR 1450 was introduced during Congress 119 and was introduced to the House on February 21, 2025. Bill HR 1450's most recent activity was Placed on the Union Calendar, Calendar No. 34. as of March 27, 2025Bipartisan Support of Bill HR 1450
Total Number of Sponsors
8Democrat Sponsors
8Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
0Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1450
Primary Policy Focus
International AffairsAlternate Title(s) of Bill HR 1450
To require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms' investigations, and for other purposes.To require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms' investigations, and for other purposes.Comments
Most relevant
Sponsors and Cosponsors of HR 1450
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