As ordered reported by the House Committee on Financial Services on January 18, 2018
H.R. 4768 would require the President to develop a national strategy to combat the financing networks of transnational organized criminals. Transnational crime is coordinated across borders and usually consists of money laundering, human smuggling, drug trafficking, and cybercrime. Under the bill, the President, acting through the Department of the Treasury and in consultation with Departments of Defense, Homeland Security, Justice, State, and the Office of the Director of National Intelligence, would produce a strategy within one year and update it every two years.
CBO cannot determine whether comprehensive information on the financing of transnational organized criminal activity has been collected by the government, although Executive Order 13773 instructed federal agencies to work together against transnational criminals. If sufficient financing information is already collected by the government, based on the cost of similar activities CBO expects that implementing the bill would require three employees (at a cost of about $150,000 a year for each) to coordinate the work of more than 10 government organizations. Thus, CBO estimates that implementing the bill would cost around $450,000 annually and about $2 million over the 2018-2022 period, subject to the availability of appropriated funds. If financing information regarding transnational organized crime is not currently collected by the government, costs could be significantly higher.
Enacting the bill would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.
CBO estimates that enacting H.R. 4768 would not increase direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
H.R. 4768 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.