Whereas money laundering and other financial crimes are serious threats to our national and economic security; Whereas the United Nations Office on Drugs and Crime has reported The estimated amount of money laundered globally in one year is 2 — 5% of global GDP, or $800 billion — $2 trillion in current US dollars ; Whereas the scale, efficiency, and complexity of the U.S. financial system make it a prime target for those who seek to conceal, launder, and move the proceeds of illicit activity; Whereas money launderers, terrorist financiers, corrupt individuals and organizations, and their facilitators have proven to adapt quickly in order to avoid detection; Whereas given the global nature of money laundering and terrorist financing, and the increasing interrelatedness within the financial system, a secure national and multilateral framework is essential to the integrity of the U.S. financial system; Whereas extensive collaboration among financial regulators, the Department of the Treasury, law enforcement, and the private sector is required to curtail the illicit flow of money throughout the United States; Whereas despite how extensive and effective these efforts are in the United States, there is still substantial room for improvement; Whereas financial compliance, reporting, investigation, and collaboration, as well as courageous whistleblowers and investigative reporting have had significant impact in shining sunlight on the people and institutions behind dark money and markets; Whereas in 2016, the Financial Action Task Force (FATF), the international standards setting body, evaluated the United States’ anti-money laundering/combating the financing of terrorism measures and determined the United States has significant gaps in its framework; Whereas in 2016, the FATF found that in the United States, Minimal measures are imposed on designated non-financial businesses and professions (DNFBPs), other than casinos and dealers in precious metals and stones