Bipartisan Senate bill targets money laundering linked to drug trafficking, terrorism

Bipartisan Senate bill targets money laundering linked to drug trafficking, terrorism

Senate Judiciary Committee Chairman Chuck Grassley and Sen. Amy Klobuchar introduced a bill cracking down on money laundering by increasing penalties for drug traffickers and terrorists.

Bipartisan Senate bill targets money laundering linked to drug trafficking, terrorism – Your Capital Minds

Senate Judiciary Committee Chairman Chuck Grassley and Sen. Amy Klobuchar introduced a bipartisan measure to crack down on money laundering by increasing penalties and ensuring laws apply to systems used by drug traffickers and terrorists. Grassley, R-Iowa, and Klobuchar, D-Minn., introduced the ‘Combating Money Laundering, Terrorist Finance and Counterfeiting Act’ Friday to enhance criminal money laundering statutes. The bill would update count…

Lawmakers say traffickers found a loophole in U.S. law, now this bill aims to shut it down

Bipartisan senators introduced new legislation this week aimed at closing financial loopholes used by drug traffickers and terrorist organizations. As reported by Fox News, the bill is being led by Republican Sen. Chuck Grassley and Democrat Sen. Amy Klobuchar and targets outdated statutes that lawmakers say no longer reflect how criminal networks move money. The proposal, formally titled the Combating Money Laundering, Terrorist Finance and Cou…