Section 1 Short title
This Act may be cited as the “Preventing Illicit Finance Act”.
Preventing Illicit Finance Act
A BILL
To require the Secretary of the Treasury to establish an advisory team to examine strategies to increase cooperation between the public and private sectors for purposes of countering illicit finance, including proliferation finance and sanctions evasion, and for other purposes.
Sec. 2 Encouraging information sharing and public-private partnerships
In general— The Secretary of the Treasury shall convene an advisory team of relevant Federal agencies, private sector experts in banking, national security, and law enforcement, and other stakeholders to—
examine strategies to increase cooperation between the public and private sectors for purposes of countering illicit finance, including proliferation finance and sanctions evasion; and
advise on strategies to combat the risk relating to proliferation financing.
Meetings— The advisory team shall meet periodically, including at the request of the Secretary of the Treasury.
Federal Advisory Committee Act— The Federal Advisory Committee Act (5 U.S.C. App.) shall not apply to the advisory team or to the activities of the advisory team.