What changed between these versions
A small clarification was made to the reporting requirements. Section 5(a) was modified to explicitly name the specific congressional committees that will receive the Government Accountability Office's report, rather than referring to 'appropriate committees of Congress'. The bill's overall policy direction remains unchanged.
Overview
A single, minor change was made to the bill. · The overall direction of the bill is unchanged, with v2 clarifying a procedural detail rather than altering substantive policy.
The primary change in v2 is a clarification regarding the recipients of the Government Accountability Office (GAO) report mandated by Section 5. While v1 broadly directed the report to 'appropriate committees of Congress', v2 specifies the 'Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate'. All other substantive provisions related to the expansion of Secret Service investigative authorities, FinCEN Exchange, and international financial institutions remain identical to v1.
Modifications
This modification provides clear direction on which specific congressional committees will receive the GAO's study and report on the implementation of anti-money laundering measures in cyber crimes, ensuring targeted oversight and review by relevant legislative bodies.
Before
The Government Accountability Office (GAO) was required to submit a report to the 'appropriate committees of Congress' within one year of the Act's enactment.
After
The Government Accountability Office (GAO) is now required to submit the report to 'the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate' within one year of the Act's enactment.