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This bill establishes a new Cross-Border Financial Crime Center within the Department of Homeland Security to investigate and combat illicit money movement across U.S. borders, particularly through trade-based schemes. The center would be staffed with analysts and investigators from multiple federal agencies including the FBI, DEA, Treasury Department, and State Department, and would work with state, local, tribal, and foreign law enforcement partners to share information and coordinate training on anti-money laundering tactics. The legislation also expands and strengthens the Trade Transparency Units program, which operates in foreign countries to detect suspicious trade transactions and financial activity that might indicate money laundering or sanctions evasion by criminal organizations, corrupt officials, and other illicit actors. The bill authorizes $6.2 million annually through 2029 for the new center and $4.1 million annually for Trade Transparency Units, with a requirement that the center director submit annual reports to Congress on trends, investigations, and assets seized. Additionally, the Government Accountability Office must study barriers to integrating data systems across law enforcement agencies and assess new technology options for improving customs data sharing.

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