H.R. 3244: Stop Fentanyl Money Laundering Act of 2023
Introduction
On December 24, 2023, the House of Representatives passed H.R. 3244, the Stop Fentanyl Money Laundering Act of 2023. This bipartisan legislation aims to combat the growing fentanyl crisis in the United States by targeting the financial networks that fund the trafficking of this deadly synthetic opioid.
Background
Fentanyl is a highly potent synthetic opioid that is 50 to 100 times more potent than morphine. It is primarily manufactured in Mexico and trafficked into the United States, where it is often mixed with other drugs, such as heroin, cocaine, and methamphetamine, without the user’s knowledge. As a result, unsuspecting users are at risk of overdose and death.
Fentanyl trafficking has surged in recent years, contributing to an alarming rise in overdose deaths. According to the Centers for Disease Control and Prevention (CDC), fentanyl was involved in nearly 70% of overdose deaths in the United States in 2021.
Key Provisions of H.R. 3244
H.R. 3244 includes several key provisions to address fentanyl money laundering:
- Enhanced penalties for fentanyl traffickers: The bill would increase the penalties for individuals who launder money derived from fentanyl trafficking.
- New tools for law enforcement: The bill would provide law enforcement agencies with new tools to investigate and prosecute fentanyl money laundering cases, including subpoena authority and the ability to seize assets.
- Increased collaboration and training: The bill would promote collaboration between law enforcement agencies, financial institutions, and other stakeholders to combat fentanyl money laundering.
Bipartisan Support and Passage
H.R. 3244 was introduced by Rep. Brian Fitzpatrick (R-PA) and Rep. Raja Krishnamoorthi (D-IL). It passed the House of Representatives by a vote of 414 to 12. The bill now moves to the Senate for consideration.
Conclusion
The passage of H.R. 3244 is a significant step towards combatting the fentanyl crisis in the United States. By targeting the financial networks that support fentanyl trafficking, the bill aims to disrupt the flow of this deadly drug and save lives. As the bill moves through the Senate, it is expected to garner bipartisan support and ultimately become law.
H.R. 3244 (RH) – Stop Fentanyl Money Laundering Act of 2023
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