Beatty Anti-Human Trafficking Amendment Earns Strong Bipartisan Support
Beatty Anti-Human Trafficking Amendment Earns Strong Bipartisan Support
Beatty-authored amendment included in the End Banking for Human Traffickers Act
WASHINGTON, D.C.—Today, the House Financial Services Committee passed the bipartisan End Banking for Human Traffickers Act, H.R. 2219, which included language from an amendment authored by U.S. Congresswoman Joyce Beatty (OH-03).
Beatty's amendment would require the President's Interagency Taskforce to Monitor and Combat Trafficking to include in its report to Congress recommended changes to existing law to more effectively detect and deter the use of emerging technologies and virtual currencies to launder money gained from human trafficking.
"Human trafficking represents an estimated multi-billion dollar a year international enterprise and, according to the U.S. State Department, it is among the world's top three criminal enterprises," Beatty said during the Committee markup. "Back in 2013, Acting Assistant Attorney General Raman testified before a Senate Committee on the challenges the use of virtual currencies present to law enforcement when used for illicit purposes like human trafficking." She concluded, "Technology evolves by the hour in today's world, and the rise in popularity of virtual and digital currencies makes it paramount that Congress and regulators ensure that these innovations are not being used to launder money gained through the travesty of human trafficking."
The bill, of which Beatty is a cosponsor, would add the Secretary of Treasury as a member of the President's Taskforce. As a member of the Taskforce, the Secretary would help submit to Congress recommendations to better identify money-laundering activities related to human trafficking.
H.R. 2219 was unanimously approved by the House Financial Services Committee by a vote of 59-0 and is now awaiting further consideration by the full U.S. House of Representatives. A companion piece of legislation has been introduced in the U.S. Senate by Senator Elizabeth Warren (D-MA).
# # #