Rep. Gallego introduces bill targeting funds linked to fentanyl smugglers
U.S. Treasury officials could begin targeting foreign bank accounts used to support fentanyl smuggling if a bill introduced by U.S. Rep. Ruben Gallego last week makes it way through Congress.
On May 11, Gallego introduced the Buck Stops Here Act, which requires U.S. banks to begin tracking financial transactions likely linked to the illicit trafficking of fentanyl. The bill authorizes the U.S. Treasury Department’s Financial Crimes Enforcement Network to designate financial institutions, transaction classes, or accounts as primary money laundering concerns in connection to illicit fentanyl trafficking.
The proposed law, which has not yet attracted a cosponsor in the House, would add accounts associated with fentanyl trafficking to those covered by a set of Patriot Act banking regulations....
Source:
Paul Ingram, TucsonSentinel.com