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Stop Fentanyl Money Laundering Act of 2025
4/7/2025, 12:51 PM
Summary of Bill HR 1577
Bill 119 hr 1577, also known as the Illicit Fentanyl and Narcotics Financing Act, grants the Secretary of the Treasury the power to implement special measures against foreign entities that are deemed to be of primary concern for money laundering related to illicit fentanyl and narcotics. The purpose of this bill is to combat the financing of illegal drugs, particularly fentanyl, which has been a major contributor to the opioid crisis in the United States.
The bill allows the Secretary of the Treasury to take various actions against these entities, such as imposing restrictions on their access to the US financial system or prohibiting certain types of transactions with them. These measures are intended to disrupt the flow of funds that support the production and distribution of illicit drugs, ultimately aiming to reduce the availability of these dangerous substances in the US.
Overall, the Illicit Fentanyl and Narcotics Financing Act seeks to address the issue of money laundering in connection with the illicit drug trade, with a specific focus on fentanyl and other narcotics. By targeting foreign entities involved in these activities, the bill aims to protect public health and safety by cutting off the financial support for the illegal drug market.
The bill allows the Secretary of the Treasury to take various actions against these entities, such as imposing restrictions on their access to the US financial system or prohibiting certain types of transactions with them. These measures are intended to disrupt the flow of funds that support the production and distribution of illicit drugs, ultimately aiming to reduce the availability of these dangerous substances in the US.
Overall, the Illicit Fentanyl and Narcotics Financing Act seeks to address the issue of money laundering in connection with the illicit drug trade, with a specific focus on fentanyl and other narcotics. By targeting foreign entities involved in these activities, the bill aims to protect public health and safety by cutting off the financial support for the illegal drug market.
Congressional Summary of HR 1577
Stop Fentanyl Money Laundering Act of 2025
This bill expands efforts to prevent money laundering related to international fentanyl and narcotics distribution.
The bill allows the Department of the Treasury to impose restrictions on an entity or activity determined to be of primary money-laundering concern in connection with illicit fentanyl and narcotics trafficking. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity.
The Financial Crimes Enforcement Network (FinCEN) must issue advisories to financial institutions about how to identify Chinese money laundering that facilitates the trafficking of fentanyl and other synthetic opioids. FinCEN must also issue guidance to financial institutions for filing suspicious transaction reports related to suspected narcotics trafficking by transnational criminal organizations.
Read the Full Bill
Current Status of Bill HR 1577
Bill HR 1577 is currently in the status of Bill Introduced since February 25, 2025. Bill HR 1577 was introduced during Congress 119 and was introduced to the House on February 25, 2025. Bill HR 1577's most recent activity was Placed on the Union Calendar, Calendar No. 12. as of March 21, 2025
Bipartisan Support of Bill HR 1577
Total Number of Sponsors
10Democrat Sponsors
0Republican Sponsors
10Unaffiliated Sponsors
0Total Number of Cosponsors
15Democrat Cosponsors
2Republican Cosponsors
13Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1577
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Asia
- China
- Civil actions and liability
- Congressional oversight
- Currency
- Drug trafficking and controlled substances
- Fraud offenses and financial crimes
- Government studies and investigations
- International monetary system and foreign exchange
- Latin America
- Mexico
- Organized crime
- Terrorism
Alternate Title(s) of Bill HR 1577
To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes.
To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes.
Comments
Sponsors and Cosponsors of HR 1577
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