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This bill amends the Foreign Assistance Act of 1961 to enhance the International Narcotics Control Strategy Report by requiring more detailed documentation of countries' efforts to combat narcotics-related money laundering. It mandates that the President consult with the Treasury Secretary on money laundering sections and submit a separate volume on money laundering issues to Congress. The bill also requires the Treasury Secretary to work with federal banking agencies to develop more consistent Bank Secrecy Act examinations and report back to Congress within 180 days.
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