Proposed Expansion of Secret Service Cyber-Crime Powers

The Frame

What this does

If passed, this bill grants the Secret Service new legal authority to investigate unlicensed money transmitting businesses and extends the duration of federal financial intelligence-sharing programs by five years, impacting how federal agencies coordinate on cyber-financial crimes.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

United States Secret Service

The agency receives expanded legal authority to conduct investigations into specific money laundering and financial structuring crimes.

Financial institutions

These entities are subject to the investigative reach of the Secret Service under the expanded definitions of financial institutions provided in the bill.

What changed

Last recorded activity July 18, 2024.

What's next

Introduced.

Summary

This bill expands the investigative authority of the U.S. Secret Service to include specific money laundering offenses and extends the operational timelines for financial information-sharing programs.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Why It Matters

If passed, this bill grants the Secret Service new legal authority to investigate unlicensed money transmitting businesses and extends the duration of federal financial intelligence-sharing programs by five years, impacting how federal agencies coordinate on cyber-financial crimes.

Frequently Asked Questions

What new powers does this bill give the Secret Service?

It allows the Secret Service to investigate unlicensed money transmitting businesses and certain financial structuring crimes, provided they coordinate with the Attorney General and the Secretary of Homeland Security.

Does this bill change the authority of other law enforcement agencies?

No, the bill explicitly states that the new Secret Service authorities shall not affect the authority of any other federal law enforcement agency.

News Coverage

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Connected Entities

organizationCongress“Introduced the bill”Map →

organizationFinancial Crimes Enforcement Network (FinCEN)“The agency impacted by changes to its exchange requirements”Map →

organizationHouse of Representatives“Introduced the bill”Map →

personAttorney General“Requires agreement for exercising expanded authority”Map →

personSecretary of Homeland Security“Requires agreement for exercising expanded authority”Map →

organizationUnited States Government Publishing Office“Source of the document”Map →

organizationUnited States Secret Service“The agency whose investigative authorities are being expanded”Map →

organizationSenate“Will enact the bill”Map →

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level