Combating Fentanyl and Financial Crimes Act of 2023

HR 6434 requires the Financial Crimes Enforcement Network (FinCEN) to publish an annual report analyzing how traffickers move money to fund fentanyl and other synthetic opioid sales. This report, to be released within 180 days of the bill's enactment and yearly for five years, details money laundering methods used by fentanyl networks. FinCEN must make the report publicly available online and distribute it directly to financial institutions, such as banks, to help them identify and prevent these illicit financial activities. The bill focuses on improving transparency and enabling financial institutions to better detect fentanyl trafficking financing.