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house Bill H.R. 2219

Should the Feds Crackdown on Money Laundering That Facilitates Human Trafficking?

Argument in favor

Federal agencies should step up their efforts to eliminate human trafficking by cutting off their access to financial services, this bill is a step in that direction.

Jayme's Opinion
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04/10/2018
This seems like a no brainer. I’m kind of uneasy with the idea that this apparently isn’t already being done.
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IllWill's Opinion
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04/10/2018
What’s the issue? Yes, we should combat human trafficking as much as possible and that includes cutting off their access to financial services that allow them to continue this disgusting practice.
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Leo's Opinion
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04/08/2018
Human trafficking is one of the most evil practices. It should be combated as much as possible.
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Argument opposed

The federal government is already doing enough to counteract the illicit financing of human trafficking operations, these reports wouldn’t be helpful.

Michael's Opinion
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04/10/2018
How about enforcing the laws that exists that make both these acts illegal? What pork do you have built in that has even prompted this to be submitted? Or are you saying that there’s a loophole built in to the existing laws that makes it legal if they’re done together? Stop writing laws and start working on policies that enhance and validate the ones that already exist.
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Mart's Opinion
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04/10/2018
Why is this needed? Both are already illegal! Aren’t they? Congress don’t you have something important to do? Like a budget?
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MattQuinn70's Opinion
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04/11/2018
I wish we had politicians who were more about enforcing our EXISTING laws (both of these actions are already illegal in the US) rather than grandstanding the hot issue of the day.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed April 10th, 2018
    Roll Call Vote 408 Yea / 2 Nay
      house Committees
      Committee on Foreign Affairs
      Committee on Financial Services
    IntroducedApril 27th, 2017

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What is House Bill H.R. 2219?

This bill would require the Federal Financial Institutions Examination Council to review and enhance where necessary anti-money laundering programs targeting human trafficking operations and refer potential cases to appropriate law enforcement agencies. The State Department would be required to report on efforts to eliminate money laundering related to human trafficking and the number of investigations, arrests, indictments, and convictions in money laundering cases related to human trafficking.

The Secretary of the Treasury would be added as a member of the President’s Interagency Task Force to Monitor and Combat Trafficking. The task force is required to submit to Congress recommendations for the revision of anti-money laundering programs to specifically target money related to human trafficking.

Impact

Human trafficking victims; financial regulators; and the Depts. of State & Treasury.

Cost of House Bill H.R. 2219

The CBO estimates that enacting this bill would cost less than $500,000 over the 2018-2022 period.

More Information

In-Depth: Sponsoring Rep. Ed Royce (R-CA) introduced this bill to help law enforcement and financial institutions identify and report suspected human traffickers so that they can be prosecuted to the fullest extent of the law:

“Human trafficking has devastated the lives of tens of millions around the world — including here in the United States. The perpetrators of these disgusting acts prey on the defenseless in our society even young children. Tragically, it’s estimated that forced labor yields more than $150 billion in illegal profits every year. This makes human trafficking the third most valuable criminal enterprise in the world. If we’re going to end this horrific trade, we’ve got to start by cutting off traffickers from the financial system. These criminals are laundering profits through financial institutions far too easily. This act will help put a stop to that.”

This legislation passed both the House Financial Services Committee on a 59-0 vote and the Foreign Affairs Committee on a voice vote. It has the support of 15 bipartisan cosponsors including nine Democrats and six Republicans.


Media:

Summary by Eric Revell

(Photo Credit: NadyaPhoto / iStock)

AKA

End Banking for Human Traffickers Act of 2018

Official Title

To increase the role of the financial industry in combating human trafficking.

    This seems like a no brainer. I’m kind of uneasy with the idea that this apparently isn’t already being done.
    Like (57)
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    How about enforcing the laws that exists that make both these acts illegal? What pork do you have built in that has even prompted this to be submitted? Or are you saying that there’s a loophole built in to the existing laws that makes it legal if they’re done together? Stop writing laws and start working on policies that enhance and validate the ones that already exist.
    Like (42)
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    I must be missing something. Money laundering is illegal, and human trafficking is illegal...what was the question?
    Like (59)
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    Why is this needed? Both are already illegal! Aren’t they? Congress don’t you have something important to do? Like a budget?
    Like (22)
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    I wish we had politicians who were more about enforcing our EXISTING laws (both of these actions are already illegal in the US) rather than grandstanding the hot issue of the day.
    Like (19)
    Follow
    Share
    What’s the issue? Yes, we should combat human trafficking as much as possible and that includes cutting off their access to financial services that allow them to continue this disgusting practice.
    Like (15)
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    Human trafficking is one of the most evil practices. It should be combated as much as possible.
    Like (12)
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    Yes, end human trafficking!
    Like (10)
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    “Human Traffickers Act” I’m in strong support of H.R. 2219 — (End Banking for Human Traffickers Act of 2017) bill, would require the Federal Financial Institutions Examination Council to review and enhance where necessary anti-money laundering programs targeting human trafficking operations, and refer potential cases to appropriate law enforcement agencies. The State Department would be required to report on efforts to eliminate money laundering related to human trafficking and the number of investigations, arrests, indictments, and convictions in money laundering cases related to human trafficking. The Secretary of the Treasury would be added as a member of the President’s Interagency Task Force to Monitor and Combat Trafficking. The task force is required to submit to Congress recommendations for the revision of anti-money laundering programs to specifically target money related to human trafficking. The H.R 2229 bill will provide that HUMAN TRAFFICKERS be prosecuted to the fullest extent of the law: * Human trafficking has devastated the lives of tens of millions around the world — including here in the United States. The perpetrators of these disgusting acts prey on the defenseless in our society even young children. * Tragically, it’s estimated that forced labor yields more than $150 billion in illegal profits every year. This makes human trafficking the third most valuable criminal enterprise in the world. * If we’re going to end this horrific trade, we’ve got to start by cutting off traffickers from the financial system. These criminals are laundering profits through financial institutions far too easily. * This act will help put a stop to that.” 4*10*18.
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    I’m surprised this is even a question. How is this not non-partisan enough to go right through Congress?
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    Why is this even a question?
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    Yes definitely
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    Why would this even be in question?
    Like (4)
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    Of course! Why wasn’t this the case before? Obviously, human trafficking is done because of the money involved. Clearly having financial specialists involved is needed. Why is this even a question?
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    Absolutely, higher ups in the financial sector need to be held accountable when they are complicit in this abhorrent crime!
    Like (3)
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    Yes why wouldn’t you do that.
    Like (2)
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    Hinder human trafficking any way we can.
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    The Feds need to crack down on all money laundering, including Russia’s through the NRA and 45’s gang.
    Like (2)
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    This is yet another expansion of civil asset forfeiture.
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    If this act can further impair or reduce human trafficking, which it appears to do, I support it.
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