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HR7156FEDERALFederal Billfiled

Proposed Expansion of Secret Service Cyber-Crime Powers

Original title: Combating Money Laundering in Cyber Crime Act of 2024

Record date · July 18, 2024

Bill progressHistory & official text ↓
Introduced
Committee
Floor Vote
Passed
Law

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What This Bill Would Do

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.

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.

Who It Would Affect

Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.

Directly affected

United States Secret Service

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

Directly affected

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.

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.

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.

What else do you want to know?

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Where This Stands

Currently filed. The next step in the legislative lifecycle is Committee.

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Connected Entities

Congress, House of Representatives, Attorney General and 5 more
OrganizationCongress“Introduced the bill”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 →
OrganizationFinancial Crimes Enforcement Network“The agency impacted by changes to its exchange requirements”Map →

Sources

Open source document

www.congress.gov

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

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