International Financial Access Improvements Act
Summary
What This Bill Does
The International Financial Access Improvements Act amends section 489(a)(7) of the Foreign Assistance Act. It requires the International Narcotics Control Strategy Report to include examples of improvements, where available, related to country findings on narcotics-related money laundering. Examples include adoption of laws and regulations considered essential to prevent narcotics-related money laundering, enhanced enforcement actions such as penalties, prosecutions, convictions, asset seizures, and forfeitures, status changes in evaluations by international standards-setting bodies, prevention efforts, and bilateral, multilateral, or regional initiatives. The report language gives Congress more detail on whether countries are making concrete anti-money-laundering progress.
Who Benefits and How
Congressional foreign affairs, banking, and oversight committees benefit from more specific country-by-country money laundering information. Treasury and State Department policy staff benefit from a clearer reporting framework for international anti-money-laundering progress. Foreign governments making reforms benefit when improvements are documented. Financial institutions benefit indirectly if clearer reporting supports better country risk assessment.
Who Bears the Burden and How
State Department report writers and Treasury sanctions or financial-crime staff must gather and verify more detailed country examples. Foreign governments may face greater scrutiny if improvements are unavailable or weak. Financial institutions operating internationally may need to consider more detailed country risk information. Federal reporting staff must track enforcement actions, legal changes, evaluation status, and prevention initiatives.
Key Provisions
- Requires the International Narcotics Control Strategy Report to include examples of country improvements against narcotics-related money laundering.
- Adds examples covering laws, regulations, penalties, prosecutions, convictions, asset seizures, and forfeitures.
- Requires attention to changes in international financial crime evaluations and prevention efforts.
- Includes bilateral, multilateral, and regional anti-money-laundering initiatives where applicable.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Requires the annual International Narcotics Control Strategy Report to include, where available, examples of each country improvements in combating narcotics-related money laundering, including legal changes, enforcement actions, international evaluation changes, prevention efforts, and bilateral, multilateral, or regional initiatives.
Key Policy Areas
Financial Services, Anti-Money Laundering, Drug Policy
Primary Purpose
Requires the annual International Narcotics Control Strategy Report to include, where available, examples of each country improvements in combating narcotics-related money laundering, including legal changes, enforcement actions, international evaluation changes, prevention efforts, and bilateral, multilateral, or regional initiatives.
Policy Domains
Substantive provisions
Identified Gains
- Congressional oversight committees
- Treasury financial-crime staff
- State Department policy staff
- Foreign governments making reforms
- Financial institutions
Identified Costs
- State Department report writers
- Treasury reporting staff
- Foreign governments under review
- International financial institutions
Sponsors
Legislative Progress
In CommitteeMs. Waters introduced the following bill; which was referred to …
Referred to the Committee on Foreign Affairs, and in addition …
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Congressional oversight committees, State Department report writers, Treasury financial-crime staff
Positive-direction: Congressional oversight committees
Negative-direction: State Department report writers, Treasury financial-crime staff
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology