Iran Terror Finance Transparency Act

The Iran Terror Finance Transparency Act, also known as Bill 114 hr 3662, is a piece of legislation introduced in the United States Congress. The main goal of this bill is to increase transparency and accountability in regards to Iran's financial activities, particularly those related to terrorism.

The bill requires the Secretary of the Treasury to submit a report to Congress detailing any financial transactions that involve Iran and are suspected of supporting terrorism. This report must include information on the individuals and entities involved in these transactions, as well as any efforts made by the US government to disrupt or prevent them.

Additionally, the bill imposes sanctions on any foreign financial institution that knowingly facilitates transactions with Iran that support terrorism. These sanctions can include restrictions on the institution's ability to do business in the United States, as well as freezing any assets they may have in US banks. Overall, the Iran Terror Finance Transparency Act aims to hold Iran accountable for its support of terrorism by increasing transparency and imposing consequences on those who enable these activities. It is currently being debated in Congress and has garnered bipartisan support for its efforts to combat terrorism financing.