|Reps. Royce, Maloney, Love, and Keating Applaud Unanimous Committee Passage of Bill to Combat Human Trafficking
|WASHINGTON, D.C. — Today, Representatives Ed Royce (R-CA), Carolyn Maloney (D-NY), Mia Love (R-UT), and Bill Keating (D-MA) released the following statements after the House Financial Services Committee unanimously passed the End Banking for Human Traffickers Act (H.R. 2219) during a full committee markup:
“In order to stop sex trafficking in our local communities and around the world, we must constantly strive to be one step ahead of the perpetrators who commit these horrible crimes,” said Rep. Royce. “This abhorrent trade is increasingly carried out by sophisticated international criminals who pose a threat to U.S. national security interests. The End Banking for Human Traffickers Act will hit these criminals where it hurts the most: their bank accounts. I’m pleased to see this bipartisan solution continue to gain support in order to proactively fight human trafficking before it occurs.”
“Human trafficking is happening in this day and age, in this country and all around the globe,” said Rep. Maloney. “It is the fastest-growing criminal enterprise in the world, generating more than $150 billion in profits every year. Some of those funds are undoubtedly flowing through U.S. financial institutions – with or without their knowledge. That’s why it’s so important to make sure that financial institutions are actively monitoring for money laundering specifically related to human trafficking. This bill will help us crack down on this despicable industry and I am proud to join my friend Rep. Royce in this effort and thank him for his leadership.”
“Human trafficking, in all its destructive forms, earns criminals roughly $150 billion per year,” said Rep. Love. “It is more profitable and sophisticated than ever. Therefore, we must ensure our response is cooperative and multifaceted in order to root out these activities wherever they are. The End Banking for Human Traffickers Act of 2017 represents a crucial step in our efforts to defeat these tragic crimes, and I’m grateful for the efforts of Chairman Royce and the Committee to advance it.”
“Yesterday’s markup underscores two important facts: that human trafficking continues to present a serious challenge for law enforcement that must be addressed, and that the most effective way to do so – as is true with most threats to human security – is in a bipartisan manner,” said Rep. Keating. “I am proud to be a sponsor of this common-sense bill with my colleagues Reps. Royce, Maloney, and Love, which will provide law enforcement and their partners with the tools necessary to prevent human trafficking and hold perpetrators responsible for their horrific crimes.”
The End Banking for Human Traffickers Act amends the Victims of Trafficking and Violence Protection Act of 2000 to add the Secretary of the Treasury as a member of the President’s Interagency Task Force to Monitor and Combat Trafficking. The task force must submit to Congress recommendations for the revision of anti-money laundering programs to specifically target money laundering related to human trafficking.
The full bill text of H.R. 2219 can be found HERE.