Lower Bucks Today

Representatives Brian Fitzpatrick and Bill Keating have introduced the End Banking for Human Traffickers Act of 2024, a bipartisan legislation aimed at combatting human trafficking by cutting off traffickers' access to the global financial system. The legislation seeks to strengthen collaborative efforts between law enforcement, financial institutions, and regulators to identify and report suspected human traffickers.

The End Banking for Human Traffickers Act directs federal banking regulators to work closely with law enforcement and financial institutions to combat the use of the financial system for human trafficking. It also emphasizes the need for increased collaboration between the private sector, law enforcement, and financial crime experts. Additionally, the legislation requires the Financial Institutions Examination Council to review and enhance training and examination procedures to improve the capabilities of anti-money laundering and other efforts to detect financial transactions related to human trafficking.

Congressman Fitzpatrick highlighted the importance of disrupting and ending human trafficking, stating, "Traffickers utilize the services of banks, credit card companies, and money transfer businesses around the world to launder illegal funds." He further explained that the End Banking for Human Traffickers Act would strengthen collaborative efforts to prevent traffickers from using the global financial apparatus for their heinous activities.

Congressman Keating echoed the sentiment, emphasizing the need to close loopholes and direct regulators to work with law enforcement to combat the use of the financial system by human traffickers. He described the act as vital legislation in the fight against human trafficking, a criminal enterprise that destroys the lives of all involved and preys upon the most vulnerable.

The introduction of this bipartisan legislation marks a significant step in the ongoing efforts to combat human trafficking. By targeting traffickers' access to the global financial system, the End Banking for Human Traffickers Act aims to disrupt their operations and strengthen the ability of law enforcement to prosecute these criminals to the fullest extent of the law.