WASHINGTON, D.C. – Today, the United States House of Representatives passed H.R. 3364, the Russia, Iran, and North Korea Sanctions Act, which includes two bills which were first introduced by Congressman Stephen F. Lynch (D-Boston). The sanctions package incorporated a number of bipartisan measures developed in the 114th Congress by the Financial Services Committee’s Task Force to Investigate Terrorism Financing. In addition to currently serving as the Ranking Member of the National Security Subcommittee, Congressman Lynch served as the lead Democrat on the Task Force to Investigate Terrorism Financing. Congressman Lynch voted in favor of H.R. 3364, which passed by a vote of 419-3.
“I am grateful to my colleagues, Mr. Royce and Mr. Engel, for adopting both my bills without any changes into the final version of the broader legislation. This will send the right message to Russia, Iran and North Korea,” said Congressman Lynch.
In particular, H.R. 3364 includes, in Section 275, the text of H.R. 2622, Congressman Lynch’s Countering Terrorist Financing Act of 2017, legislation which expands the Financial Crimes Enforcement Network’s ability to collect information under Geographic Targeting Orders in order to prevent money laundering. In addition, in Section 273, the legislation includes a study on the role of Treasury attachés in embassies, which was included in H.R. 5607, the Enhancing Treasury’s Anti-Terror Tools Act in the 114th Congress.
In December of 2016, the Task Force to Investigate Terrorism Financing released a bipartisan report of its two-year long probe into the threat terror financing poses to the U.S. financial system. In the 114th Congress, members of the Task Force introduced a number of bipartisan measures seeking to enhance the federal government’s approach to combatting the flow of funds to terrorist organizations. In the 114th Congress, H.R. 5602, Congressman Lynch’s Countering Terrorist Financing Act of 2017, passed the House by a vote of 356-47. Congressman Lynch reintroduced the legislation in the 115th Congress as H.R. 2622. In the 114th Congress, Congressman Lynch and Task Force to Investigate Terrorism Financing Vice Chairman Robert Pittenger (R-NC) introduced H.R. 5607, the Enhancing Treasury’s Anti-Terror Tools Act, which passed the House by a vote of 362-45.