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Hearing Modernizing the BSA for Financial Crime in the 21st Century
house National Security, Illicit Finance, and International Financial Institutions Subcommittee · May 21, 2026 · Transcript · 18 transcript matches
BEATTY, JOYCE "Thank you, Mr. Chairman, and thank you to our witnesses for appearing at today's hearing to discuss the Bank Secrecy Act in light of financial crime in the 21st century. The Bank Secrecy Act, or the BSA, which, as you've already heard, was enacted in 1970, remains to this day one of the strongest tools that we have to stop money laundering, to crack down on shell companies, and to combat terrorist financing, and to protect American consumers from fraud and financial crime. We all know it exists. By helping banks and financial institutions detect and report suspicious activity that may be..."
Hearing Oversight of the Financial Crimes Enforcement Network
house National Security, Illicit Finance, and International Financial Institutions Subcommittee · Jul 21, 2026 · Transcript · 14 transcript matches
DAVIDSON, WARREN "The Subcommittee on National Security, Illicit Finance, and International Financial Institutions will come to order. Without objection, the chairman is authorized to declare recess of the committee at any time. This hearing is titled, Oversight of the Financial Crimes Enforcement Network. Without objection, all members will have five legislative days within which to submit extraneous materials for inclusion in the record. I now recognize myself for four minutes for an opening statement. Our witness today is FinCEN Director Andrea Gackey. Director, welcome and thank you for making time among..."
Hearing Converging Criminal Enterprises: Chinese Money Laundering Networks and Cartel Financing in the U.S. Financial System
house Oversight and Investigations Subcommittee · Jun 9, 2026 · Transcript · 16 transcript matches
WATERS, MAXINE "quote, opening the door to a new era of illicit finance, enabling America's adversaries, corrupt officials, and other bad actors to exploit the stablecoin ecosystem to launch a money war, finance corruption, and evade U.S. transactions, end quote. As a former law enforcement investigator and a banker focused on financial crime, Mr. DeTito, do you believe that crypto companies should not have to detect and report on suspected financial crime, as banks and other financial companies do? Would this harm law enforcement's ability to detect and deter all kinds of bad actors? What do you"
CRS Report
Financial Intelligence Units (FIUs), the U.S. Financial Crimes Enforcement Network, and FIU Operational Independence
Resources · Sep 8, 2023
As Congress considers anti-money laundering and countering the financing of terrorism (AML/CFT) policy options, one factor may include their effect on Financial Intelligence Unit (FIU) “operational...
Hearing Hearings to examine made in China and paid by seniors, focusing on stopping the surge of international scams.
senate Aging (Special) Committee · Jan 14, 2026 · Transcript · 5 transcript matches
SETO BAGDOYAN "enabled by technology such as AI to achieve financial gain. They involve scammers often operating from foreign countries, as we've heard today, engaging with targeted victims with a type of scam and requesting payment under false purpose. One example highlights the scope and reach of scams and their financial toll on consumers. A 2023 international police operation against online financial crime, including scams, yielded over 3,000 arrests and seizures of $300 million in assets across 34 countries, including the United States. However, the full extent of losses and the risks that underpin..."
CRS Report
The Financial Crimes Enforcement Network (FinCEN): Anti-Money Laundering Act of 2020 Implementation and Beyond
Report · Mar 20, 2026
On January 1, 2021, Congress passed the Anti-Money Laundering Act of 2020 (AMLA) as Division F of the William M. (Mac) Thornberry National Defense Authorization Act (NDAA) for FY2021 (P.L. 116-283)....
Hearing Evaluating the Financial Crimes Enforcement Network
house National Security, Illicit Finance, and International Financial Institutions Subcommittee · Sep 9, 2025 · Request transcript
Hearing Business meeting to consider the nominations of Andrew Hughes, of Texas, to be Deputy Secretary and David Woll, of Virginia, to be General...
senate Banking, Housing, and Urban Affairs Committee · May 6, 2025 · Request transcript
Hearing Hearings to examine the nominations of Andrew Hughes, of Texas, to be Deputy Secretary, David Woll, of Virginia, to be General Counsel, both of...
senate Banking, Housing, and Urban Affairs Committee · Apr 10, 2025 · Request transcript
Testimony BEATTY, JOYCE
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"Thank you, Mr. Chairman, and thank you to our witnesses for appearing at today's hearing to discuss the Bank Secrecy Act in light of financial crime in the 21st century. The Bank Secrecy Act, or the BSA, which, as you've already heard, was enacted in 1970, remains to this day one of the strongest tools that we have to stop money laundering, to crack down on shell companies, and to combat terrorist financing, and to protect American consumers from fraud and financial crime. We all know it..."
Testimony WATERS, MAXINE
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"quote, opening the door to a new era of illicit finance, enabling America's adversaries, corrupt officials, and other bad actors to exploit the stablecoin ecosystem to launch a money war, finance corruption, and evade U.S. transactions, end quote. As a former law enforcement investigator and a banker focused on financial crime, Mr. DeTito, do you believe that crypto companies should not have to detect and report on suspected financial crime, as banks and other financial companies do? Would this..."
Witness Andrea Gacki
Financial Crimes Enforcement Network (FinCEN) · 2 hearings
CRS Report
Money Laundering in the U.S. Real Estate Sector
Resources · Jan 4, 2022
Global Trends and Domestic Concerns Money laundering and other financial crimes in the real estate sector take many forms and continue to challenge real estate, financial institution, law...
CRS Report
The U.S. Secret Service: History and Missions
Reports · Dec 18, 2014
The U.S. Secret Service has two missions—criminal investigations and protection. Criminal investigation activities have expanded since the inception of the Service from a small anti-counterfeiting...
CRS Report
Elder Financial Exploitation
Posts · Feb 12, 2025
Elder financial exploitation (EFE), as defined by the Financial Crimes Enforcement Network (FinCEN), is “the illegal or improper use of an older adult’s funds, property, or assets.” EFE can deprive...
Testimony MR. JOHN COURT
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"As a result, the regime is poorly suited to today's illicit finance and technologies. Second, it's replete with process-heavy supervisory expectations and examiners who tolerate little to no errors on low-risk matters. Banking agency examiners focus heavily on detailed processes and documentation rather than real financial crime risk, fostering a check-the-box culture and forcing banks to waste precious financial crime-fighting resources trying to satisfy examiner demands on immaterial items...."
CRS Report
Financial Services and General Government (FSGG) FY2023 Appropriations: Overview
Reports · Sep 29, 2023
The Financial Services and General Government (FSGG) appropriations bill includes funding for the Department of the Treasury, the Executive Office of the President, the judiciary, the District of...
CRS Report
Trade-Based Money Laundering: Overview and Policy Issues
Reports · Jun 22, 2016
Trade-based money laundering (TBML) involves the exploitation of the international trade system for the purpose of transferring value and obscuring the true origins of illicit wealth. TBML schemes...
CRS Report
A Persistent and Evolving Threat: An Examination of the Financing of Domestic Terrorism and Extremism
Testimony · Jan 15, 2020
Chairman Cleaver, Ranking Member Hill, Members of the Subcommittee, thank you for the opportunity to testify today. My name is Rena Miller, and I have been a Specialist in Financial Economics at the...
Hearing Examining Legislation to Establish a Federal Comprehensive Privacy and Data Security Law
house Commerce, Manufacturing, and Trade Subcommittee · Jun 3, 2026 · Transcript · 2 transcript matches
EVANS, GABE "there's money transactions, there's a lot of digital footprint that's involved here. And so again, we want data privacy for Americans, but we also have to be able to interrupt not just the financial crime space, but we have to be able to trace that back and untangle that to horrific crimes like human trafficking and human trafficking of minors. So can you talk in my remaining 30 seconds just a little bit about how this not only works to protect Americans' data and to work with law enforcement, not just on the financial piece, but also on things like human trafficking? Thank you so much, and..."
Hearing Hearings to examine the AI deception machine, focusing on deepfakes, chatbots, and the new frontier of senior fraud.
senate Aging (Special) Committee · Jul 29, 2026 · Transcript · 2 transcript matches
PAUL BENDA "so online platforms have meaningful obligations to verify advertisers and rapidly respond to fraudulent ads. Stronger telecom safeguards are needed to keep criminals off calling networks and restore trust in caller ID. And federal support can help state and local authorities build specialized financial crime capacity. Older Americans should not be expected to distinguish on their own and in real time between a loved one and a cloned"
Hearing “Oversight of the Department of Justice”
house Judiciary Committee · Feb 11, 2026 · Transcript · 2 transcript matches
BALINT, BECCA "And the Epstein files contain evidence of a multi-decade international criminal conspiracy involving some of the wealthiest and the most powerful people in the world. There's evidence of financial crimes, political corruption, sex trafficking, and, of course, horrible sexual abuse. And I want to remind everybody, this isn't a"
CRS Report
U.S. Efforts to Combat Money Laundering, Terrorist Financing, and Other Illicit Financial Threats
Resources · Feb 4, 2025
The United States maintains a multifaceted policy regime for tackling anti-money laundering (AML), combating the financing of terrorism (CFT), and countering illicit financial threats. The 119th...
Testimony ARI REDBORD
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"Beacon Network, TRM's real-time information-sharing and interdiction platform, puts that capability to work at scale, connecting 100 law enforcement agencies with platforms covering 85 percent of centralized crypto volume, so that when illicit funds hit an exchange, an alert fires in real time. The T3 Financial Crime Unit has frozen more than $450 million in illicit assets across 23 jurisdictions since launching less than two years ago—not through a SAR and a 60-day review cycle, through..."
CRS Report
Financial Fraud and Scams: The Roles of Federal Law Enforcement and Financial Regulators
Resources · Aug 26, 2025
Reported losses associated with financial fraud and scams have been increasing, garnering attention from law enforcement, private industry, policymakers, and the general public. In 2024, the Federal...
CRS Report
Bank Use of Cloud Technology
Resources · Dec 3, 2021
The banking industry has been a prominent, if sometimes skeptical, adopter of cloud technology. Proponents promise scalability, flexibility, and cost savings, among other benefits. However, the...
CRS Report
Marijuana Banking: Legal Issues and the SAFE(R) Banking Acts
Posts · Nov 15, 2023
A number of states have adopted laws permitting marijuana sales and other marijuana-related activities, even though those same activities remain unlawful under federal drug and financial laws. Due to...
CRS Report
Financial Services for Marijuana Businesses
Resources · Nov 27, 2019
A number of states have adopted laws permitting marijuana sales and other marijuana-related activities, even though those same activities remain unlawful under federal drug and financial laws....
CRS Report
Overview of Correspondent Banking and “DeRisking” Issues
Resources · Apr 8, 2022
What Is Correspondent Banking? In broad terms, correspondent banking refers to formal agreements or relationships between banks to provide payment services for each other. It is often used to...
Testimony MEUSER, DANIEL
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"Leland Lazarus. Mr. Lazarus is the founder and chief executive officer of Lazarus Consulting, LLC. Mr. Lazarus formerly worked for the U.S. Southern Command and served as a State Department diplomat in China and the Caribbean. Mr. Lazarus received his bachelor's degree from Brown and Diplomacy at Tufts University. So welcome. Thank you. Mr. John Kassara. Mr. Kassara is a retired special agent for the U.S. Treasury where he investigated money laundering, among other things. During his time at..."
Testimony BEATTY, JOYCE
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"To make matters worse, Republicans in Congress continue to push a dangerous deregulatory agenda that puts our national security and financial system at risk. For example, lowering the Currency Transaction Report and Suspicious Activity Report thresholds and creating new national security risks to exploit their stablecoin legislation. Just last month, the committee Republicans voted to largely repeal the CTA, making it easier for fraudsters and cartels to laundry their money through shell..."
Testimony SPEAKER_03
“Northern Exposure: Assessing the Evolving Threat Landscape at America...
house Homeland Security Committee · Jun 30, 2026
"The criminal activities I have described today generate substantial illicit proceeds, sophisticated complex financial investigations are at the core of the HSI mission. To address these challenges, HSI uses our cross-border financial crime center, the HSDF or Homeland Security Task Force National Coordination Center, and our partner and international counterparts to identify and dismantle these illicit financial networks. As we confront these evolving threats, I respectfully ask for your..."
Testimony EVANS, GABE
Examining Legislation to Establish a Federal Comprehensive Privacy and...
house Energy and Commerce Committee · Jun 3, 2026
"there's money transactions, there's a lot of digital footprint that's involved here. And so again, we want data privacy for Americans, but we also have to be able to interrupt not just the financial crime space, but we have to be able to trace that back and untangle that to horrific crimes like human trafficking and human trafficking of minors. So can you talk in my remaining 30 seconds just a little bit about how this not only works to protect Americans' data and to work with law enforcement,..."
Testimony BEATTY, JOYCE
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"Bad actors didn't go away, my friends. My colleagues may say that we don't need this, but we know fraud and everything still exists. However, the current administration has been systematically destructing the very safeguards that help prevent financial crime. For example, gutting the bipartisan Corporate Transparency Act, suspending the residential real estate rule, suspending the investment advisory rule, and I could go on and on with the list. As we see bad actors use crypto and artificial..."
Testimony MR. JOHN COURT
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"And finally, the proposal—and this is significant and important—contains key components designed to encourage banks to utilize technological innovation to combat financial crime. Nevertheless, we think the proposal could be improved in various ways, and we'll be Lastly, we're going to encourage the incorporation of key concepts from the proposal's preamble into the regulatory text to ensure clear, uniform standards and consistent application by"
Testimony ARI REDBORD
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"According to TRM's open-source reporting platform, ChainAbuse, AI-enabled scam activity rose 500 percent over the last year. Artificial intelligence has changed the economics of financial crime entirely. North Korea stole more than $2 billion in digital assets last year and has already stolen about $600 million in the first months of"
Testimony ARI REDBORD
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"And do it all while protecting the privacy of lawful Americans. The answer to financial crime in the age of AI is smarter tools and better targeted data, not bigger databases that become honeypots for the ransomware groups and state-sponsored hackers that seek to do us"
Testimony CAROLE HOUSE
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"The tech opportunity is equally real and genuine modernization must address both. Machine learning detection is supercharging ability to identify complex financial crime patterns. Public blockchain ledgers can provide investigative visibility that can be difficult to replicate in traditional finance. Authoritative digital identity infrastructure can simultaneously reduce compliance burden and improve fraud prevention and trustworthiness. Structured machine readable financial crime data..."
Testimony MR. JOHN COURT
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"Yeah, modernizing the thresholds would certainly help, right? I mean, currently, we have thresholds that are way too low that are creating just too much volume, too much noise. I would say further, though, that is probably on the margins, honestly. What the proposed rule is trying to do and what the AMLA instructed the federal government to do six years ago was to try to get the boot of the federal bank examiner off the neck of the people inside the banks who are trying to fight financial..."
Testimony MR. JOHN COURT
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"for FinCEN and the Treasury Department to have oversight about what the bank examiners are doing. So obviously, the incentive inside the bank is to have the most effective financial crime fighting apparatus as possible at the least cost. And one way to do that is to leverage technology and"
Testimony MEUSER, DANIEL
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"The gentleman's time has expired. The gentleman yields. We will now move to witness testimony. Today, we welcome our witnesses. First off, Ms. Liana Rosen. Ms. Rosen is a specialist in international sanctions and financial crimes in the Foreign Affairs, Defense, and Trade Division at the Congressional Research Service. Ms. Rosen received her bachelor's degree from Duke University and her master's degree from Georgetown University. So, welcome. Next, we have Mr. Leland Lazarus. Mr. Lazarus is..."
Testimony MS. LIANA ROSEN
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"Thank you. Chairman Muser, Ranking Member Green, distinguished members of the Subcommittee, thank you for the opportunity to testify on behalf of the Congressional Research Service. My name is Liana Rosen and I'm a CRS Specialist on International Sanctions and Financial Crimes. The Subcommittee asked CRS to provide an introduction to what Chinese money laundering networks are, why they've emerged as a major money laundering threat, who is involved, and where and how they operate. I'll use my..."
Testimony LICCARDO, SAM T.
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"I'm glad you mentioned remittances because I happen to have a bill, I know we all have a bill, so a bill called the Remittance Expense Minimization and Integrity for Transfers Act that would prevent the imposition of taxes or fees on remittances if the Treasury Secretary finds that such taxes or fees would increase the potential for money laundering or financial crime. As you know, there's often tax avoidance in these kinds of situations and folks who are lawfully engaged in remittances might..."
Testimony WILLIAMS, NIKEMA
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"So I have a few questions about what that actually cost the people that I serve back home. Mr. Cassara, at a basic level, why does real estate money laundering through anonymous LLCs matter as a national security and financial crime issue, and why is property an attractive vehicle for criminal networks like the ones we're discussing here today? That's exactly what we're feeling at home, and that's why this issue, which seemed a little complicated, hits right home for the people that I..."
Testimony WILLIAMS, NIKEMA
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"Mr. Cassara, at a basic level, why does real estate money laundering through anonymous LLCs matter as a national security and financial crime issue, and why is property an attractive vehicle for criminal networks like the ones we're discussing here today? That's exactly what we're feeling at home, and that's why this issue, which seemed a little complicated, hits right home for the people that I represent. Everybody can feel this. We're seeing the housing market across the board, whether it's..."
Testimony MS. LIANA ROSEN
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"Remittance payments and the fees associated in the formal financial sector can be substantial. Thank you for the question. So the Corporate Transparency Act would have created or is creating a central database that the Financial Crimes Enforcement Network maintains regarding certain— Yes, all of the above have been involved in Chinese money laundering networks. What's really interesting about these Chinese money laundering networks is the variety of ways in which they launder these illicit..."
Testimony MR. JOHN CASSARA
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"We need to call them out and tell them that they are the largest transnational criminal actor in the world, and they are the largest money launder in the world. We established the Bank Secrecy Act about 1970 to give financial crimes investigators a tool to follow the money. Those were the days where large amounts of drug money were sloshing around through Western financial"
Testimony EVANS, GABE
Examining Legislation to Establish a Federal Comprehensive Privacy and...
house Energy and Commerce Committee · Jun 3, 2026
"because this helps us not only detect, prevent, and deter insurance fraud and financial crimes and related crimes, it also helps us work with law enforcement to be able to go and get the bad guys. So can you talk a little bit about how the Secure Data Act works with law enforcement to protect"
Testimony PAUL BENDA
Hearings to examine the AI deception machine, focusing on deepfakes, c...
senate Aging (Special) Committee · Jul 29, 2026
"so online platforms have meaningful obligations to verify advertisers and rapidly respond to fraudulent ads. Stronger telecom safeguards are needed to keep criminals off calling networks and restore trust in caller ID. And federal support can help state and local authorities build specialized financial crime capacity. Older Americans should not be expected to distinguish on their own and in real time between a loved one and a cloned"
Testimony DAVIDSON, WARREN
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"The Subcommittee on National Security, Illicit Finance, and International Financial Institutions will come to order. Without objection, the chairman is authorized to declare recess of the committee at any time. This hearing is titled, Oversight of the Financial Crimes Enforcement Network. Without objection, all members will have five legislative days within which to submit extraneous materials for inclusion in the record. I now recognize myself for four minutes for an opening statement. Our..."
Testimony BEATTY, JOYCE
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"for her opening statement. Thank you, Mr. Chairman, and good afternoon, Director Gackey. It's certainly good to see you again, and thank you for appearing before us today for our annual Financial Crimes Enforcement Network Oversight Hearing. Although FinCEN is a relatively small bureau within the Treasury Department, it plays an outsized role in protecting the integrity of the United States financial system and safeguarding our national security. It is responsible, as you know, for helping law..."
Testimony BEATTY, JOYCE
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"businesses, and communities across this country. Director Gackey, I want to thank you and the dedicated career staff at FinCEN for the work that you have done to defend our national security and help stop financial crime. However, I am deeply concerned by recent efforts that would weaken our illicit finance safeguards and undermine decades of bipartisan progress in combating financial crime. These efforts include proposals to significantly narrow bank secrecy requirements, attempts to weaken or..."
Testimony HILL, J. FRENCH
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"Hopefully we'll get some answers as to why FinCEN has not revised BSA reporting thresholds as a push to update AML standards. When doing so, it is necessary to allow financial institutions to truly focus on risk. As financial crimes grow more sophisticated, our framework needs to keep pace unnecessary burdens on American"
Testimony DAVIDSON, WARREN
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"All right. All right. So today we welcome the testimony of Ms. Andrea Gackey, Director of the Financial Crimes Enforcement Network. Director Gackey, thank you for taking time to be here"
Testimony ANDREA GACKI
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"Thank you. Chairman Davidson, Ranking Member Beatty, Chairman Hill, Ranking Member Waters, and distinguished members of this subcommittee, thank you for the opportunity to appear before you today to testify on behalf of the U.S. Department of the Treasury's Financial Crimes Enforcement Network, known as FinCEN. Today I'd like to focus on providing an update on FinCEN's work to combat fraud schemes that take money away from hardworking"
Testimony WATERS, MAXINE
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"The Trump family has taken or reportedly solicited literally billions for their own firms, like the World Liberty Financial, from domestic and foreign actors, including those from those who target by your own agency for facilitating money laundering and terror finance. Many of these same people and dozens of others convicted of fraud and financial crimes have been pardoned. It's hard to see how this isn't a pay-to-play"
Testimony SESSIONS, PETE
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"Okay. So why don't you get back to me in writing and tell me you do not track that. So I don't know whether that means that it exists or not, but we'll deal with that later. Director, I have had an opportunity to go to the Texas Financial Crimes Intelligence Center in Tyler, Texas. It is an organization that has been, based upon English, either stood up or it"
Testimony SESSIONS, PETE
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"as a law enforcement area, a fusion center to gain intelligence, to know what happens in the state of Texas. Are you aware of this Texas Financial Crimes Intelligence Center, FCIC? That is awesome because I believe that this is the kind of circumstance, intelligence centered data, gathering of information, sharing of"
Testimony FOSTER, BILL
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"Thank you, Mr. Chair and to our witness. First a quick request. When you answer the questions from the Chairman about GTOs and the loss recoveries and so on, could you also attempt to estimate how much financial crime has been prevented because the bad guys know about the existence of GTOs? Perhaps by looking at other countries that have more, greater or lesser ability to identify fraudulent or criminal property transfers. Yeah, it's one of these things like the argument that, well, there's not..."
Testimony WILLIAMS, ROGER
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"That's important. Lastly, FinCEN has a fine time to—a fine line to walk, and it must protect Americans from financial crime without crippling with overreaching regulations, and we've seen how hard it can be to strike that balance in initiatives like the real estate transfer rule, which was ultimately struck down in a court for going beyond FinCEN's statutory authority. So, my last question is, Director Gackey, as FinCEN reevaluates this rule, will you commit in listening to industry voices to..."
Testimony BONAMICI, SUZANNE
H.R. 8781, "Title IX Clarification Act of 2026"; H.R. 4986, "Parents O...
house Education and Workforce Committee · Jul 21, 2026
"Thank you, Mr. Chairman. I understand that my colleague has withdrawn her amendment, but I want to clarify a comment that I made, just so the record is clear. Although the president has been found criminally liable for financial crimes, he was found civilly liable for sex abuse, and I just want the record to be clear. And I yield back. The old one we're going to cancel the previous"
Testimony SPEAKER_01
Hearings to examine the nominations of Francis Brooke, of Virginia, to...
senate Finance Committee · Jul 16, 2026
"And I appreciate the question. As you know, during the G20 presidency this year, which America is leading, as well as as part of the G7, which we have the presidency for next year, financial fraud and financial crime is an important part of the dialogue that we're having with our G20 counterparties. And so this is something that is critical to the Secretary, critical to the President, and we've really made one of the cornerstones of the dialogue that we're having along our G20 partners...."
Testimony PETERS, GARY C.
Hearings to examine exposing fraud in America.
senate Homeland Security and Governmental Affairs Committee · Jul 15, 2026
"to any effective oversight. All right. Mr. Ailer-Gaudet, POGO has raised concerns about both President Biden and President Trump's use of presidential pardons. This administration has claimed to care about fraud, and yet President Trump has pardoned a staggering number of convicted fraudsters. To date, he has pardoned over two dozen criminals who committed a combined nearly five or $3 billion in financial crimes and fraud. These pardons also robbed victims of approximately $1.3 billion in..."
Testimony MEEKS, GREGORY W.
A New Beginning for Colombia
house Foreign Affairs Committee · Jul 15, 2026
"4.7 billion dollars. So, my next question is, how many additional INL programs to prosecute drug traffickers, conduct financial crimes investigations, or support civilian security conflict-affected communities in Colombia or South America could be funded with that amount of money, 4.7 billion dollars? Better utilization, don't you"
Testimony SPEAKER_19
H.R. 8800 – National Defense Authorization Act for Fiscal Year 2027; H...
house Rules Committee · Jun 29, 2026
"This eliminates the overly broad application of the Corporate Transparency Act from the Biden administration, so then what would remain is the president's executive order. No, this goes back to years ago, the FinCEN, Financial Crimes Enforcement Network, came out with a customer due diligence rule. Banks basically spy on their customers, and for that, they get to be"
Testimony SPEAKER_17
“From Startup to Scale: The Role of the SBA Office of Investment and I...
house Small Business Committee · Jun 25, 2026
"California's 12th District. Yeah, yeah. You did all that homework, so. No, we did, we did, and I wrote them out so they would stick in my mind now, and I'm gonna pull them up so I can talk about it. Now, it wasn't exhaustive. It was just, it was, it was Ciber or SPIC Investments, and or funds, but. You can send them to me. No, oh great, but no, but they're great. I mean, there's, I'm not gonna say all the names, but there's a Ciber success story, and I've actually engaged with this company...."
Testimony MORELLE, JOSEPH D.
Committee on House Administration Full Committee Hearing: “Preventing ...
house Committee on House Administration · Jun 10, 2026
"Democrats found that while Mr. Zhang was corruptly funneling money through Wynn Redd, he was allegedly involved in a poker tournament at a casino that once owed a $3.1 million settlement to the California Justice Department for violating the Bank Secrecy Act. A casino that also paid, incidentally, a $2.8 million penalty to the Treasury Department's financial crimes enforcement network. A casino that, on a separate occasion, admitted that it failed to properly follow"
Testimony THE HONORABLE JONATHAN GOULD
Oversight of Prudential Regulators
house Financial Services Committee · Jun 4, 2026
"Obviously, you know, we at the OCC are certainly sensitive to regulatory burden in this area as we are in all other areas. The OCC and Financial Crimes Enforcement Network and the Federal Banking Agencies more generally expect banks to know their customers. That is an existing and longstanding statutory and regulatory"
Testimony FITZGERALD, SCOTT
H.R. 8481, the Kayleigh’s Law Act of 2026; H. J. Res. 1, Proposing an ...
house Judiciary Committee · Jun 3, 2026
"ensure American competitiveness and achieve our foreign policy objectives. It's not enough merely to have smart trade policy that puts American workers and businesses first. For U.S. trade policy to be effective we have to resolutely resolutely enforce the laws implementing that policy. Today criminal enterprises and bad actors predominantly based in the People's Republic of China are breaking U.S. trade laws with impunity. Trade-based financial crime is a 1.6 trillion dollar per year problem...."
Testimony HAGERTY, BILL
Hearings to examine proposed budget estimates and justification for fi...
senate Appropriations Committee · Apr 22, 2026
"To support this work, Department offices are requesting $1.8 million in six full-time employees. These funds are focused on rulemaking and governance with an emphasis on efficiency. Additionally, the Financial Crimes Enforcement Network, FinCEN, is seeking $3 million in ten full-time employees to drive innovation and establish national leadership in digital assets and stablecoins. Secretary Bessent, if you could just take a moment to comment on why these funds are"
Testimony WICKER, ROGER F.
Hearings to examine the posture of United States Northern Command and ...
senate Armed Services Committee · Mar 19, 2026
"and are linked to human trafficking, weapon smuggling, and financial crime. I commend SOUTHCOM for its execution of Operation Southern"
Testimony COTTON, TOM
Hearings to examine worldwide threats; to be immediately followed by a...
senate Intelligence (Select) Committee · Mar 18, 2026
"Communist Russia used to do it during the Cold War, and communist China has always done stuff like that. On the Patty Murray legislation, not only would it have defunded ICE and CBP, it would have also defunded Homeland Security investigations, which do critical work on our streets to protect our communities from financial crimes, from predators, from transnational gangs as well. So while we would all like to see the TSA and the Coast Guard and other critical parts of Homeland Security as well,..."
Testimony BALINT, BECCA
“Oversight of the Department of Justice”
house Judiciary Committee · Feb 11, 2026
"And the Epstein files contain evidence of a multi-decade international criminal conspiracy involving some of the wealthiest and the most powerful people in the world. There's evidence of financial crimes, political corruption, sex trafficking, and, of course, horrible sexual abuse. And I want to remind everybody, this isn't a"
Testimony RASKIN, JAMIE
“Oversight of the Department of Justice”
house Judiciary Committee · Feb 11, 2026
"The Guardian, January 26, 2026, why is Trump granting clemency to convicted fraudsters? January 20, 2026, NBC, Trump's pardons forgive financial crimes that came with hundreds of millions of dollars in punishment. Washington Post, December 19, 2025, Trump's pardons wipe out payments to defrauded"
Testimony SPEAKER_18
“Oversight of the Department of Homeland Security: ICE, CBP, and USCIS...
house Homeland Security Committee · Feb 10, 2026
"Since February 2025, ICE has arrested more than 500 criminal sponsors of these offenses, including sexual exploitation and forced labor, dismantled more than 2,400 human smuggling operations, and along with our federal partners, located more than 145,000 children. To further ensure TCOs can never threat our nation again, President Trump dedicated the establishment of the Homeland Security Task Force. The Homeland Security Task Forces represent the most aggressive and coordinated attack on TCOs..."
Testimony BRITT, KATIE BOYD
Business meeting to consider S.2544, to permit State, local, and Triba...
senate Judiciary Committee · Feb 5, 2026
"they often lack the specialization that they need and the training and the tools that would be helpful to investigate the complex financial crimes. These scammers have also learned how to exploit these gaps to avoid"
Testimony SETO BAGDOYAN
Hearings to examine made in China and paid by seniors, focusing on sto...
senate Aging (Special) Committee · Jan 14, 2026
"enabled by technology such as AI to achieve financial gain. They involve scammers often operating from foreign countries, as we've heard today, engaging with targeted victims with a type of scam and requesting payment under false purpose. One example highlights the scope and reach of scams and their financial toll on consumers. A 2023 international police operation against online financial crime, including scams, yielded over 3,000 arrests and seizures of $300 million in assets across 34..."
Testimony SETO BAGDOYAN
Hearings to examine made in China and paid by seniors, focusing on sto...
senate Aging (Special) Committee · Jan 14, 2026
"They actually may have volunteered to do that, while other agencies basically demurred, either explicitly or implicitly. So we took that into consideration. We did make 16 recommendations to three agencies, as you know, but we thought that the FBI, given its scope, scale, its investigative capacity, they have the financial crime section, which is a key unit within the Bureau to tackle these types of crimes, including"
CRS Report
Effect of Rescheduling Marijuana on Access to Financial Services
Posts · Aug 26, 2024
Although federal law prohibits most marijuana-related activities, a majority of U.S. states and territories have adopted laws permitting certain types of marijuana sales and other marijuana-related...
Hearing “Northern Exposure: Assessing the Evolving Threat Landscape at America's Northern Border”
house Border Security and Enforcement Subcommittee · Jun 30, 2026 · Transcript
SPEAKER_03 "The criminal activities I have described today generate substantial illicit proceeds, sophisticated complex financial investigations are at the core of the HSI mission. To address these challenges, HSI uses our cross-border financial crime center, the HSDF or Homeland Security Task Force National Coordination Center, and our partner and international counterparts to identify and dismantle these illicit financial networks. As we confront these evolving threats, I respectfully ask for your continued support of our workforce to ensure that we remain in a position of advantage against our..."
Hearing H.R. 8781, "Title IX Clarification Act of 2026"; H.R. 4986, "Parents Opt-in Protection Act"; H.R. 8747, "K-12 AI Literacy and Readiness Act of...
house Education and Workforce Committee · Jul 21, 2026 · Transcript
BONAMICI, SUZANNE "Thank you, Mr. Chairman. I understand that my colleague has withdrawn her amendment, but I want to clarify a comment that I made, just so the record is clear. Although the president has been found criminally liable for financial crimes, he was found civilly liable for sex abuse, and I just want the record to be clear. And I yield back. The old one we're going to cancel the previous"
Hearing Hearings to examine the nominations of Francis Brooke, of Virginia, to be Deputy Secretary, Erin Browne, of New York, to be an Under Secretary,...
senate Finance Committee · Jul 16, 2026 · Transcript
SPEAKER_01 "And I appreciate the question. As you know, during the G20 presidency this year, which America is leading, as well as as part of the G7, which we have the presidency for next year, financial fraud and financial crime is an important part of the dialogue that we're having with our G20 counterparties. And so this is something that is critical to the Secretary, critical to the President, and we've really made one of the cornerstones of the dialogue that we're having along our G20 partners."
Hearing Hearings to examine exposing fraud in America.
senate Homeland Security and Governmental Affairs Committee · Jul 15, 2026 · Transcript
PETERS, GARY C. "to any effective oversight. All right. Mr. Ailer-Gaudet, POGO has raised concerns about both President Biden and President Trump's use of presidential pardons. This administration has claimed to care about fraud, and yet President Trump has pardoned a staggering number of convicted fraudsters. To date, he has pardoned over two dozen criminals who committed a combined nearly five or $3 billion in financial crimes and fraud. These pardons also robbed victims of approximately $1.3 billion in restitution payments. They were given to people like Lawrence Duran, who committed $205 million in..."
Hearing A New Beginning for Colombia
house Western Hemisphere Subcommittee · Jul 15, 2026 · Transcript
MEEKS, GREGORY W. "4.7 billion dollars. So, my next question is, how many additional INL programs to prosecute drug traffickers, conduct financial crimes investigations, or support civilian security conflict-affected communities in Colombia or South America could be funded with that amount of money, 4.7 billion dollars? Better utilization, don't you"
Hearing H.R. 8800 – National Defense Authorization Act for Fiscal Year 2027; H.R. 8884 – Removing Barriers to Work for Disabled Americans Act; H. Res....
house Rules Committee · Jun 29, 2026 · Transcript
SPEAKER_19 "This eliminates the overly broad application of the Corporate Transparency Act from the Biden administration, so then what would remain is the president's executive order. No, this goes back to years ago, the FinCEN, Financial Crimes Enforcement Network, came out with a customer due diligence rule. Banks basically spy on their customers, and for that, they get to be"
Hearing “From Startup to Scale: The Role of the SBA Office of Investment and Innovation in Powering America’s Small Businesses.”
house Small Business Committee · Jun 25, 2026 · Transcript
SPEAKER_17 "California's 12th District. Yeah, yeah. You did all that homework, so. No, we did, we did, and I wrote them out so they would stick in my mind now, and I'm gonna pull them up so I can talk about it. Now, it wasn't exhaustive. It was just, it was, it was Ciber or SPIC Investments, and or funds, but. You can send them to me. No, oh great, but no, but they're great. I mean, there's, I'm not gonna say all the names, but there's a Ciber success story, and I've actually engaged with this company. They offer AI risk-driven intelligence solutions for detecting and mitigating financial crime, so it's..."
Hearing Committee on House Administration Full Committee Hearing: “Preventing Fraudulent Donations: Transparency, Verification, and Accountability”
house Committee on House Administration · Jun 10, 2026 · Transcript
MORELLE, JOSEPH D. "Democrats found that while Mr. Zhang was corruptly funneling money through Wynn Redd, he was allegedly involved in a poker tournament at a casino that once owed a $3.1 million settlement to the California Justice Department for violating the Bank Secrecy Act. A casino that also paid, incidentally, a $2.8 million penalty to the Treasury Department's financial crimes enforcement network. A casino that, on a separate occasion, admitted that it failed to properly follow"
Hearing Oversight of Prudential Regulators
house Financial Services Committee · Jun 4, 2026 · Transcript
THE HONORABLE JONATHAN GOULD "Obviously, you know, we at the OCC are certainly sensitive to regulatory burden in this area as we are in all other areas. The OCC and Financial Crimes Enforcement Network and the Federal Banking Agencies more generally expect banks to know their customers. That is an existing and longstanding statutory and regulatory"
Hearing H.R. 8481, the Kayleigh’s Law Act of 2026; H. J. Res. 1, Proposing an amendment to the Constitution of the United States to require that the...
house Judiciary Committee · Jun 3, 2026 · Transcript
FITZGERALD, SCOTT "ensure American competitiveness and achieve our foreign policy objectives. It's not enough merely to have smart trade policy that puts American workers and businesses first. For U.S. trade policy to be effective we have to resolutely resolutely enforce the laws implementing that policy. Today criminal enterprises and bad actors predominantly based in the People's Republic of China are breaking U.S. trade laws with impunity. Trade-based financial crime is a 1.6 trillion dollar per year problem. For example in just past decade law enforcement has identified hundreds of instances of trade fraud..."
Hearing Hearings to examine proposed budget estimates and justification for fiscal year 2027 for the Department of the Interior.
senate Department of the Interior, Environment, and Related Agencies Subcommittee · Apr 22, 2026 · Transcript
HAGERTY, BILL "To support this work, Department offices are requesting $1.8 million in six full-time employees. These funds are focused on rulemaking and governance with an emphasis on efficiency. Additionally, the Financial Crimes Enforcement Network, FinCEN, is seeking $3 million in ten full-time employees to drive innovation and establish national leadership in digital assets and stablecoins. Secretary Bessent, if you could just take a moment to comment on why these funds are"
Hearing Hearings to examine the posture of United States Northern Command and United States Southern Command in review of the Defense Authorization...
senate Armed Services Committee · Mar 19, 2026 · Transcript
WICKER, ROGER F. "and are linked to human trafficking, weapon smuggling, and financial crime. I commend SOUTHCOM for its execution of Operation Southern"
Hearing Hearings to examine worldwide threats; to be immediately followed by a closed session in SH-219.
senate Intelligence (Select) Committee · Mar 18, 2026 · Transcript
COTTON, TOM "Communist Russia used to do it during the Cold War, and communist China has always done stuff like that. On the Patty Murray legislation, not only would it have defunded ICE and CBP, it would have also defunded Homeland Security investigations, which do critical work on our streets to protect our communities from financial crimes, from predators, from transnational gangs as well. So while we would all like to see the TSA and the Coast Guard and other critical parts of Homeland Security as well, we do not want to defund the police, this time the immigration police. Senator"
Hearing “Oversight of the Department of Homeland Security: ICE, CBP, and USCIS”
house Homeland Security Committee · Feb 10, 2026 · Transcript
SPEAKER_18 "Since February 2025, ICE has arrested more than 500 criminal sponsors of these offenses, including sexual exploitation and forced labor, dismantled more than 2,400 human smuggling operations, and along with our federal partners, located more than 145,000 children. To further ensure TCOs can never threat our nation again, President Trump dedicated the establishment of the Homeland Security Task Force. The Homeland Security Task Forces represent the most aggressive and coordinated attack on TCOs in history. Through Cross-Border Financial Crime Center, we have developed and implemented a..."
Hearing Business meeting to consider S.2544, to permit State, local, and Tribal law enforcement agencies and grantees that receive eligible Federal grant...
senate Judiciary Committee · Feb 5, 2026 · Transcript
BRITT, KATIE BOYD "they often lack the specialization that they need and the training and the tools that would be helpful to investigate the complex financial crimes. These scammers have also learned how to exploit these gaps to avoid"
Hearing Updating America’s Financial Privacy Framework for the 21st Century
house Financial Services Committee · Mar 17, 2026 · Transcript
SPEAKER_23 "So the question is whether we want a financial system that's built on trust or one that functions as an extension of immigration enforcement. And I think the banks and credit unions have done a terrific job, in many cases, not in all, of extending in-language resources and building resources to meet immigrant communities where they are. But what you don't want is the creation of a shadow economy. It also, you know, if you're thinking about money flows and a kind of black market in financial services, you worry about crime and drugs and everything else being present in those markets, which..."
Hearing Hearings to examine Arctic Frost.
senate Federal Courts, Oversight, Agency Action, and Federal Rights Subcommittee · Mar 24, 2026 · Transcript
CHRISTOPHER O'LEARY "Senator, the loss of agents and analysts and professional staff across the FBI is impacting a variety of programs from white collar crime, protecting the integrity of our financial markets and public corruption. Cyber, the head of the cyber division was fired, an exceptional agent that I served with for years. The head of the critical incident response group, who was the acting director in the beginning of the Trump administration, Brian Driscoll, was fired just this last August because he refused to fire one of his employees without cause as directed"
Hearing Hearings to examine programs for justice-involved veterans.
senate Veterans' Affairs Committee · Apr 15, 2026 · Transcript
LAWTON NUSS "We also emphasize the obvious money say by avoiding incarceration and keeping a veteran in the community under court supervision, which promotes their rehabilitation. Without this opportunity, we face the resultant financial costs of future incarceration from their new crimes. We also face the hidden costs of these new crimes, and that is the extra time, the extra cost of the criminal justice"
Hearing Hearings to examine protecting Americans from global scam operations, focusing on assessing the United States response.
senate Foreign Relations Committee · Aug 6, 2026 · Transcript
MR. DAVID BEDARD "Senator, I do not have a response on the technical language of the clarity bill. INL's work with our foreign law enforcement partners is to build their capacity for blockchain analysis, digital financial investigations, and modernize their legal authorities to address the crime that is being facilitated, oftentimes through cryptocurrency. All"
Hearing “Fairfax County, Virginia: The Dangerous Consequences of Sanctuary Policies”
house Immigration Integrity, Security, and Enforcement Subcommittee · May 14, 2026 · Transcript
JANE STOEVER "what ends up happening if people aren't seeking help. And then also I want to add to the conversation that benefits, public benefits, CHIP, SNAP, have been cut off to legal immigrants and those who hold the temporary status. And so really what's happening is that the abuse is continuing and that people's financial security is weakening, and what we have is greater"
Hearing “Oversight of Fraud and Misuse of Federal Funds in Minnesota: Part I”
house Oversight and Government Reform Committee · Jan 7, 2026 · Transcript
MR. BRENDAN BALLOU "Well, it's the funding and staffing that's necessary to uncover fraud that's happening at a state level, but that staffing is not being mirrored at the federal level. Well, bluntly, most of the enforcement mechanisms for going after white collar crime are being decimated, especially in the Justice Department, but also the Consumer Financial Protection Bureau and the Securities and Exchange Commission."
Hearing Hearings to examine empowering Main Street by unlocking access to capital.
senate Banking, Housing, and Urban Affairs Committee · Aug 6, 2026 · Transcript
WARREN, ELIZABETH "enforcement activity dropped by 20% last year. Chair Atkins couldn't even say under oath in this room that insider trading is bad. Fraudsters and cheats it appears that everyone gets a free pass. Chair Atkins is also making markets more secretive. He's slashing disclosure rules so that companies can hide just how risky they've become. He's gutting oversight and enforcement tools that help financial cops on the beat go after insider trading, after market manipulation and other corporate crimes. He's making it easier for executives to silence shareholders and to strip them of their rights. He's..."
Hearing Hearings to examine the nomination of Walter Clayton, of New York, to be Director of National Intelligence.
senate Intelligence (Select) Committee · Jul 15, 2026 · Transcript
HEINRICH, MARTIN "In a media interview a couple of months ago, you were asked your position on the President's $1.8 billion fund for victims of weaponization, and you replied, when we are investigating people and bringing charges against them, criminal charges against people, from a financial point of view, you can be, they can be absolutely devastating. If people have been pursued inappropriately, I'm supportive of there being relief for that financial cost. That's it, end quote. Do you believe that people convicted of violent crimes related to the January 6, 2021 attack on the U.S. Capitol and on U.S...."
Hearing Hearings to examine balancing the interests of local radio, songwriters, and performers in the digital age.
senate Intellectual Property Subcommittee · Dec 9, 2025 · Transcript
SPEAKER_02 "Through its work with the Cyber Tip Line, NCMEC has seen children sexually exploited online for decades. Today, we are confronting alarming rates of emerging crimes where sexually exploiting a child is not the final objective, but a means of achieving a larger goal of financial gain or incitement of chaos. NCMEC shares this committee's deep concern that offenders will continue to evolve and escalate their exploitation of children online unless we act now to hold online platforms accountable when they facilitate a child's exploitation to ensure safety by design is incorporated into development..."
Hearing Committee on House Administration Subcommittee on Elections Hearing: “Examining Best Practices for Strengthening Election Security”
house Elections Subcommittee · May 20, 2026 · Transcript
SEWELL, TERRI A. "I think this is hypocrisy at its highest degree. We are here today doing important work to guarantee that election workers have the financial resources they need to do their jobs effectively, all while this president is paying out to people who committed heinous crimes money out of taxpayers' dollars. During a moment of incredible political turmoil, election officials across the country are being asked to administer elections while Republican state legislatures change the rules of the game in their scramble to consolidate"
Testimony MR. JOHN COURT
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"right And And so we have these institutions who are deploying financial crime-fighting resources, and instead of devoting them to, like, high-risk activities where they can be effective, they end up devoting them to low-risk activities where all they're doing is trying to make their"
Testimony DAVIDSON, WARREN
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"Today, we examine the Bank Secrecy Act itself and how to modernize its architecture for today's AML threat. The Bank Secrecy Act was enacted in 1970 to target the abuse of our financial system by organized crime. Over the decades, it has become a large, bloated surveillance machine demanding endless reports without delivering proportional"
Testimony GREEN, AL
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"as well for conducting this hearing today. Mr. Chairman, it is my belief that a better title for the hearing would be Exposing Converging Machinations, President Trump's Crypto Schemes, and Facilitation of Crypto Crimes in the U.S. Financial System. Republicans, my colleagues, are setting this hearing up to analyze how Chinese money laundering networks are laundering money through the U.S. financial system on behalf of drug cartels. This time would be much better spent focused on..."
Testimony DAVIDSON, WARREN
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"This is the fourth hearing with the Director of FinCEN as required by Section 5336C11 of the Corporate Transparency Act. One of the only provisions I like of the act, by the way. Today, it provides a public forum to examine FinCEN's operations, the troubled status of the Finally, the history and impact of the Bank Secrecy Act. The Bank Secrecy Act was enacted in 1970 to address organized crimes infiltration of our financial system. In the half-century since, it has grown into a bloated..."
Testimony SPEAKER_23
Updating America’s Financial Privacy Framework for the 21st Century
house Financial Services Committee · Mar 17, 2026
"So the question is whether we want a financial system that's built on trust or one that functions as an extension of immigration enforcement. And I think the banks and credit unions have done a terrific job, in many cases, not in all, of extending in-language resources and building resources to meet immigrant communities where they are. But what you don't want is the creation of a shadow economy. It also, you know, if you're thinking about money flows and a kind of black market in financial..."
Testimony MR. JOHN CASSARA
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"Money laundering is in three stages, placement, layering, and integration. The first stage is placement. They try to get bulk cash, if you will, the proceeds of crime, say drug proceeds, into a financial institution where, basically, then it can go further, be layered. The problem is picking up that bulk cash and then getting it into a financial"
Testimony CHRISTOPHER O'LEARY
Hearings to examine Arctic Frost.
senate Judiciary Committee · Mar 24, 2026
"Senator, the loss of agents and analysts and professional staff across the FBI is impacting a variety of programs from white collar crime, protecting the integrity of our financial markets and public corruption. Cyber, the head of the cyber division was fired, an exceptional agent that I served with for years. The head of the critical incident response group, who was the acting director in the beginning of the Trump administration, Brian Driscoll, was fired just this last August because he..."
Testimony MR. NICHOLAS ANTHONY
Modernizing the BSA for Financial Crime in the 21st Century
house Financial Services Committee · May 21, 2026
"The Nicaraguan government branded human rights defender Felix Maradiaga as a terrorist for organizing peaceful protests against the Ortega regime. After being debanked, Maradiaga warned that, quote, democratic governments are being made unwitting accomplices to dictatorships, as such regimes cynically manipulate financial surveillance systems set up to fight crime and terrorism, misusing the Bank Secrecy Act to harass, spy on, and hamper dissidents at home and abroad. The good news is that..."
Testimony MR. LOUIS DETITTO
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"CMLNs are not peripheral actors. They're essential financial clearinghouses for a global marketplace of transnational crime. They connect drug proceeds, Chinese capital flight, fraud, and trade-based money"
Testimony WATERS, MAXINE
Oversight of the Financial Crimes Enforcement Network
house Financial Services Committee · Jul 21, 2026
"The Anti-Money Laundering Act of 2020 required the Treasury Department to issue the National Anti-Money Laundering and Countering the Finances of Terrorism Priorities. Congress mandated this list to give financial institutions a roadmap on the types of crimes to focus their Bank Secrecy Act compliance efforts. Benson issued his first list in 2021, and your agency is completing the rulemaking that will tell banks and others how they are expected to use this"
Testimony LAWTON NUSS
Hearings to examine programs for justice-involved veterans.
senate Veterans' Affairs Committee · Apr 15, 2026
"We also emphasize the obvious money say by avoiding incarceration and keeping a veteran in the community under court supervision, which promotes their rehabilitation. Without this opportunity, we face the resultant financial costs of future incarceration from their new crimes. We also face the hidden costs of these new crimes, and that is the extra time, the extra cost of the criminal justice"
Testimony MR. DAVID BEDARD
Hearings to examine protecting Americans from global scam operations, ...
senate Foreign Relations Committee · Aug 6, 2026
"Senator, I do not have a response on the technical language of the clarity bill. INL's work with our foreign law enforcement partners is to build their capacity for blockchain analysis, digital financial investigations, and modernize their legal authorities to address the crime that is being facilitated, oftentimes through cryptocurrency. All"
Testimony JANE STOEVER
“Fairfax County, Virginia: The Dangerous Consequences of Sanctuary Pol...
house Judiciary Committee · May 14, 2026
"what ends up happening if people aren't seeking help. And then also I want to add to the conversation that benefits, public benefits, CHIP, SNAP, have been cut off to legal immigrants and those who hold the temporary status. And so really what's happening is that the abuse is continuing and that people's financial security is weakening, and what we have is greater"
Testimony NUNN, ZACHARY
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"They launder money for North Korean hackers, for what's happening in Iran terrorism, and certainly for Russian crime rings. So today, let's follow the money. Let's cut the financial engine and starve out these cartels. As a two-decade member of the intelligence community, somebody who has been inside China and watching these things"
Testimony MR. BRENDAN BALLOU
“Oversight of Fraud and Misuse of Federal Funds in Minnesota: Part I”
house Oversight and Government Reform Committee · Jan 7, 2026
"Well, it's the funding and staffing that's necessary to uncover fraud that's happening at a state level, but that staffing is not being mirrored at the federal level. Well, bluntly, most of the enforcement mechanisms for going after white collar crime are being decimated, especially in the Justice Department, but also the Consumer Financial Protection Bureau and the Securities and Exchange Commission."
Testimony SCOTT, RICK
Hearings to examine the AI deception machine, focusing on deepfakes, c...
senate Aging (Special) Committee · Jul 29, 2026
"The bill funds specialized law enforcement training on elder fraud and provides tools to trace stolen cryptocurrency. Finally, these efforts must be coordinated. That is why I introduced the National Strategy for Combating Scams Act with Ranking Member Gillibrand to require the FBI to develop a unified national strategy informed by victims, law enforcement, nonprofits, and the private sector. The federal government has to coordinate its efforts to effectively combat these complex schemes. Each..."
Testimony WARREN, ELIZABETH
Hearings to examine empowering Main Street by unlocking access to capi...
senate Banking, Housing, and Urban Affairs Committee · Aug 6, 2026
"enforcement activity dropped by 20% last year. Chair Atkins couldn't even say under oath in this room that insider trading is bad. Fraudsters and cheats it appears that everyone gets a free pass. Chair Atkins is also making markets more secretive. He's slashing disclosure rules so that companies can hide just how risky they've become. He's gutting oversight and enforcement tools that help financial cops on the beat go after insider trading, after market manipulation and other corporate crimes...."
Testimony HEINRICH, MARTIN
Hearings to examine the nomination of Walter Clayton, of New York, to ...
senate Intelligence (Select) Committee · Jul 15, 2026
"In a media interview a couple of months ago, you were asked your position on the President's $1.8 billion fund for victims of weaponization, and you replied, when we are investigating people and bringing charges against them, criminal charges against people, from a financial point of view, you can be, they can be absolutely devastating. If people have been pursued inappropriately, I'm supportive of there being relief for that financial cost. That's it, end quote. Do you believe that people..."
Testimony GREEN, AL
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"in October 2025, Trump pardoned Binance's founder just seven months after Binance helped the family launch their stablecoin. I appreciate my Republican colleagues for holding this hearing on foreign criminal threats to the American financial system, but it is a disservice to the American public to ignore the very same crimes when they are made in America. Currently, many of my Republican colleagues are gutting anti-money laundering tools like the Corporate Transparency Act, that law enforcement..."
Testimony SPEAKER_02
Hearings to examine balancing the interests of local radio, songwriter...
senate Judiciary Committee · Dec 9, 2025
"Through its work with the Cyber Tip Line, NCMEC has seen children sexually exploited online for decades. Today, we are confronting alarming rates of emerging crimes where sexually exploiting a child is not the final objective, but a means of achieving a larger goal of financial gain or incitement of chaos. NCMEC shares this committee's deep concern that offenders will continue to evolve and escalate their exploitation of children online unless we act now to hold online platforms accountable..."
Testimony SCOTT, RICK
Hearings to examine made in China and paid by seniors, focusing on sto...
senate Aging (Special) Committee · Jan 14, 2026
"I won't say that one again. the company's analysis of cyber-enabled crime, including cryptocurrency, scams, ransomware, and transnational fraud networks targeting victims in the United States. Her work focuses on tracking illicit financial flows and identifying how overseas criminal organizations, including China-linked networks, move and launder stolen funds through digital assets. She regularly supports U.S. law enforcement, policymakers with data-driven insights to help disrupt scam..."
Testimony SEWELL, TERRI A.
Committee on House Administration Subcommittee on Elections Hearing: “...
house Committee on House Administration · May 20, 2026
"I think this is hypocrisy at its highest degree. We are here today doing important work to guarantee that election workers have the financial resources they need to do their jobs effectively, all while this president is paying out to people who committed heinous crimes money out of taxpayers' dollars. During a moment of incredible political turmoil, election officials across the country are being asked to administer elections while Republican state legislatures change the rules of the game in..."
Testimony MS. LIANA ROSEN
Converging Criminal Enterprises: Chinese Money Laundering Networks and...
house Financial Services Committee · Jun 9, 2026
"most powerful Mexican cartels, including the Sinaloa Cartel and the Jalisco New Generation Cartel. CMLN customers include not only foreign-based criminal groups, but also certain PRC citizens seeking access to more foreign currency than they can legally access. CMLNs thus offer black market services to two separate categories of customers. On the one hand, they offer a way for some PRC citizens to gain access to U.S. dollars in excess of currency control limits, and on the other hand, they help..."
Testimony MS. JACQUELINE BURNS KOVEN
Hearings to examine made in China and paid by seniors, focusing on sto...
senate Aging (Special) Committee · Jan 14, 2026
"But I'm here today to emphasize that fraudsters' use of cryptocurrency should place them at a fundamental disadvantage, given the traceability and feasibility of many of these assets. At Chainalysis, we analyze transaction data from the blockchain networks to provide clear information into scam networks and laundering at a level of transparency that isn't possible in traditional forms of value transfer. Blockchain intelligence should be considered foundational for understanding the fraud..."
Testimony SCOTT, RICK
Hearings to examine made in China and paid by seniors, focusing on sto...
senate Aging (Special) Committee · Jan 14, 2026
"Criminals shouldn't be free to hide behind foreign compounds, use Chinese infrastructure, and still access the U.S. financial system. Additionally, Ranking Member Gillibrand and I are also pushing for the Guard Act. This bill strengthens penalties against criminals who target older Americans and gives law enforcement more tools to prevent these crimes. These three bills are bipartisan, they are common sense, and they are designed to protect the American people. It's time we all come together..."