Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2026

Increased Penalties for Bulk Cash Smuggling: The bill increases the prison term for bulk cash smuggling from 5 years to 10 years and introduces enhanced fines for aggravated cases (Section 3).

Improved Money Laundering Prosecution: The government can now satisfy transaction requirements by showing commingled funds or a series of closely related transactions, which helps in prosecuting money laundering (Section 4).

Addressing Unlicensed Businesses: The bill establishes criminal penalties for those operating money services businesses without appropriate licenses or failing to comply with registration requirements (Section 6).

Stronger Deterrents to Counterfeiting: New provisions create penalties for those in possession of materials or equipment used to counterfeit United States or foreign obligations, as well as for those possessing securities where security features have been removed (Section 10).

Enhanced Threat Analysis: The Secretary of the Treasury is required to submit a threat and operational analysis regarding how remittances are used to finance terrorism, narcotics trafficking, and human trafficking (Section 13).

New Rules for Blank Checks: A monetary instrument in bearer form with a blank amount may be considered to have a value of more than $10,000 if the underlying account contained more than that amount, which could impact how such instruments are handled (Section 2).

Strict Penalties for Money Services Businesses: Individuals operating money services businesses may face up to 5 years in prison, or up to 10 years if the business involves more than $1,000,000 in a 12-month period (Section 6).

Impact on Remittances: The bill notes that the Secretary of the Treasury must consider how recommended measures to mitigate threats might impose additional burdens on the lawful use of remittances (Section 13).