The House of Representatives has advanced a measure sponsored by Rep. Anthony Gonzalez (R-OH) designed to aid the effort to stop money laundering supporting criminal activity.
The legislation was advanced with unanimous support.
The Advancing Innovation (AI) to Assist Law Enforcement Act ensures new and innovative technologies to address money laundering enabling opioid, fentanyl and human trafficking and financing criminal organizations like cartels and terrorist organizations.
The bill mandates a report on the use of artificial intelligence, digital identity technologies, blockchain and other emerging technologies in the Department of the Treasury’s Financial Crimes Enforcement Network, FinCEN.
“Money laundering enables the shipment of deadly drugs like opioids and fentanyl into communities like mine in Ohio that have been decimated by the opioid crisis,” Gonzalez said. “My bill makes sure that we are using the best technology we have available to find and stop the money laundering that makes all these crimes not only possible but financially profitable for cartels, traffickers, terrorists and the like.”
The legislation would also enhance the process of stopping criminal activity in the financial services industry, including drug trafficking, human trafficking, and potential terrorist threats.
The use of new technologies will streamline government operations, allowing the agency to move quicker in the face of emerging threats.
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