STIFLE Act of 2020
The source supplies the latest action, but no lifecycle stage.
Latest action (22 Sep 2020): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
What this bill does
The STIFLE Act of 2020, also known as H.R. 7592, would require the Government Accountability Office (GAO) to conduct a comprehensive study on various forms of illicit trafficking. This study would examine major trafficking routes, methods used to launder proceeds, and the role of financial institutions and emerging technologies in these activities. The GAO would also consult with survivor advocacy groups, law enforcement, and private sector organizations.
The bill's findings state that trafficking poses a national security threat and is an economic drain, with transnational crime valued at trillions of dollars annually. The study aims to gather information to help combat trafficking and the laundering of its proceeds by identifying vulnerabilities and suggesting legislative or regulatory changes. The findings of the study, along with recommendations for action, would be reported to Congress.
This bill has passed the House of Representatives and will now move to the Senate for consideration. If passed by the Senate, it would become law, and the GAO would then have 15 months to issue its initial report.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Stopping Trafficking, Illicit Flows, Laundering, and Exploitation Act of 2020 or the STIFLE Act of 2020
This bill requires the Government Accountability Office (GAO) to study the illicit trafficking of people, money, and goods by transnational criminal organizations, terrorists, and others.
The GAO must report on various topics related to illicit trafficking, including major trafficking routes and common methods of laundering proceeds. It must also provide recommendations for legislative or regulatory changes to combat trafficking or the laundering of proceeds from trafficking.
Timeline
22 Sep 2020
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Common questions
- What does H.R. 7592 do?
- The STIFLE Act of 2020, also known as H.R. 7592, would require the Government Accountability Office (GAO) to conduct a comprehensive study on various forms of illicit trafficking. This study would examine major trafficking routes, methods used to launder proceeds, and the role of financial institutions and emerging technologies in these activities. The GAO would also consult with survivor advocacy groups, law enforcement, and private sector organizations. The bill's findings state that trafficking poses a national security threat and is an economic drain, with transnational crime valued at trillions of dollars annually. The study aims to gather information to help combat trafficking and the laundering of its proceeds by identifying vulnerabilities and suggesting legislative or regulatory changes. The findings of the study, along with recommendations for action, would be reported to Congress. This bill has passed the House of Representatives and will now move to the Senate for consideration. If passed by the Senate, it would become law, and the GAO would then have 15 months to issue its initial report.
- Has H.R. 7592 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 7592. Check the latest action and official source below.
- Who sponsored H.R. 7592?
- H.R. 7592 was sponsored by Rep. McAdams, Ben [D-UT-4] (D-UT), with 1 cosponsor.
- What's the latest action on H.R. 7592?
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (22 Sep 2020).
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