S. 3801, the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2026, strengthens federal money laundering laws by clarifying that prohibitions against laundering illegal proceeds apply to informal value transfer systems—such as hawalas and underground banking networks—in addition to traditional financial transactions. The legislation extends both federal money laundering statutes to cover these informal monetary systems, closing a loophole that previously limited enforcement tools against these networks. The bill includes a safeguard clarifying that nothing in the legislation restricts authorized law enforcement, protective, or intelligence activities conducted by the U.S. government and its agencies. While the section summaries provided do not specify funding amounts or implementation timelines, the bill's primary effect is to give federal authorities broader authority to prosecute money laundering schemes that utilize informal banking channels.
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