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Congress·In Committee·11 months ago

Cyber Crime: Expanding Secret Service Power to Fight Digital Fraud

Also known as: Combatting Money Laundering in Cyber Crime Act of 2025

Legislative Progress

✓ Filed
Review
Senate
House
President

Key Points

  • This bill gives the U.S. Secret Service more power to investigate crimes involving digital assets like cryptocurrency. It focuses on stopping people who run illegal money-moving businesses or try to hide large amounts of money from the government.
  • It changes the law so the Secret Service can investigate more types of financial companies, not just traditional banks. This helps law enforcement keep up with how criminals use new technology and online platforms to commit fraud.
  • The bill extends the time that government agencies can share information about financial crimes from five years to ten years. This allows investigators to track criminal groups over a longer period and catch those who try to hide their tracks over time.
  • A special government watchdog would be required to study these changes and report back to Congress. They will look at whether these new powers are actually helping police stop money laundering and cyber crimes effectively.

Milestones

2 milestones2 actions
Apr 3, 2025Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Apr 3, 2025

Introduced in Senate

Source Information

Document Type

Congressional Bill

Official Title

Combatting Money Laundering in Cyber Crime Act of 2025

Bill NumberS 1273
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsor

Cosponsors

(1)
R: 1

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.