Reported by Ross O’Keefe

A group of House Republicansled by Rep. Andy Ogles (R-TN) is introducing legislation aimed at crippling fentanyl trafficking by imposing financial sanctions.

The bill permits the Treasury Department secretary to take action if financial institutions outside the United States are suspected of facilitating money laundering for narcotics purposes. The legislation would also allow the Treasury to strengthen law enforcement knowledge on suspicious financial moves.

Overdosing on fentanyl is the leading cause of death for Americans ages 18 to 45.

“The fentanyl crisis has claimed thousands of American lives,” Ogles told the Washington Examiner.

“Drug cartels and transnational criminal organizations are using complex financial networks to launder their profits and protect their billion-dollar industry. The United States must take action to strengthen its anti-money laundering efforts and further the fight against illicit fentanyl trafficking. I’m leading the Stop Fentanyl Money Laundering Act to crack down on criminal drug traffickers and stop them from profiting off the deaths of Americans,” he added.

Read full report: https://gazette.com/news/wex/house-republicans-to-introduce-bill-to-prevent-fentanyl-linked-money-laundering/article_3f8387c4-e9d8-5ba3-a6b3-b008b285a501.html