Foreign Affairs Committee Advances Bill to Cut Off Human Traffickers’ Access to Banking SystemPress Release
Washington, D.C. – Today, the House Foreign Affairs Committee passed four measures, including, as amended, the End Banking for Human Traffickers Act of 2017 (H.R. 2219). The legislation, authored by Chairman Royce, helps law enforcement and financial institutions identify and report suspected human traffickers so that they can be prosecuted to the fullest extent of the law.
On H.R. 2219, Chairman Royce said: “Human trafficking has devastated the lives of tens of millions around the world – including here in the United States. The perpetrators of these disgusting acts prey on the defenseless in our society, even young children.
“Tragically, it’s estimated that forced labor yields more than $150 billion in illegal profits every year. This makes human trafficking the third most valuable criminal enterprise in the world.
“If we’re going to end this horrific trade, we’ve got to start by cutting off traffickers from the financial system. These criminals are laundering profits through financial institutions far too easily. This act will help put a stop to that.”
Additionally, the committee passed the following measures:
- As amended, H.R. 1997, Ukraine Cybersecurity Cooperation Act of 2017, introduced by Rep. Brendan Boyle (D-PA), which encourages United States-Ukraine cybersecurity cooperation and requires a report regarding such cooperation;
- As amended, H.R. 2646, United States-Jordan Defense Cooperation Extension Act, introduced by Rep. Ileana Ros-Lehtinen (R-FL), which reauthorizes the United States-Jordan Defense Cooperation Act of 2015; and
- H.R. 3851, War Crimes Rewards Expansion Act, introduced by Rep. Virginia Foxx (R-NC), which amends the State Department Basic Authorities Act of 1956 to provide for rewards for the arrest or conviction of certain foreign nationals who have committed genocide or war crimes.
A summary of the committee action, including adopted amendments, will be available HERE.