Combating Money Laundering in Cyber Crime Act of 2024
Latest Action
Placed on the Union Calendar, Calendar No. 490.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™The Combating Money Laundering in Cyber Crime Act of 2024 is a House bill introduced in the 118th Congress aimed at addressing money laundering activities related to cybercrime. The bill falls under the policy area of Crime and Law Enforcement. As of the latest update, the bill was placed on the Union Calendar but ultimately failed or expired without becoming law. No official summary or full text of the bill is available in the provided data, limiting detailed analysis of its specific provisions.
This bill sought to enhance efforts against money laundering linked to cybercrime but did not advance to enactment during the 118th Congress.
- The bill targets money laundering activities associated with cybercrime.
- It was introduced in the House of Representatives during the 118th Congress.
- The bill was placed on the Union Calendar but failed or expired without passage.
['Law enforcement agencies focused on financial crimes and cybercrime', 'Regulatory bodies overseeing anti-money laundering compliance', 'Potentially, the general public through enhanced crime prevention']
['Lack of available full text and official summary limits clarity on implementation details and scope.', 'Potential costs and resource requirements for enforcement agencies are unknown.', 'Oversight mechanisms and authority granted to agencies are not specified.', 'Without passage, no direct impact or enforcement occurred.']
The bill was introduced in the House during the 118th Congress and was placed on the Union Calendar, indicating it was scheduled for consideration. However, it ultimately failed or expired, meaning it did not progress through the legislative process to become law. The focus on cybercrime and money laundering aligns with ongoing congressional interest in addressing financial crimes facilitated by technology.
Hidden impact flags detected: 1
GovScope reviewed 1 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['If enacted, the bill could have led to increased regulatory scrutiny on financial transactions related to cybercrime.', 'Potentially greater collaboration between law enforcement and financial institutions to detect and prevent money laundering.', 'Possible impacts on technology and financial sectors due to enhanced compliance requirements.']
The absence of the bill's full text and official summary in the available data presents a significant transparency challenge. This limits public and stakeholder understanding of the bill's specific measures, enforcement mechanisms, and potential impacts. Monitoring legislative progress and ensuring access to complete bill documentation are essential for effective government transparency and accountability.
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