,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #ffg  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #e1 #bjai ,mr4    
,van ,holl5 7= himself & ,mr4 ,toomey7  
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to impose sanctions ) respect  
to ! ,democratic ,p's ,republic (       
,korea1 & = o!r purposes4  #a4 ,%ort    
title2 table ( cont5ts  7a7 ,%ort title 
,?is ,act may be cit$ z ! ,otto ,w>mbi] 
,bank+ ,re/rictions ,involv+ ,nor?      
,korea ,act ( #bjai4  7b7 ,table (      
cont5ts ,! table ( cont5ts = ?is ,act is
 z foll[s3  ,sec4 #a4 ,%ort title2 table
 ( cont5ts4 ,,title ,i--,sanctions )    
respect to ,nor? ,korea ,sec4 #aja4     
,f9d+s4 ,sec4 #ajb4 ,s5se ( ,congress4  
,sec4 #ajc4 ,def9itions4 ,subtitle      
,a--,expansion ( sanctions & relat$     
matt]s ,sec4 #aaa4 ,sanctions ) respect 
to =eign f9ancial in/itutions t provide 
f9ancial s]vices to c]ta9 sanction$     
p]sons4 ,sec4 #aab4 ,codification (     

,executive ord]s relat+ to sanctions )  
respect to ,nor? ,korea4 ,sec4 #aac4    
,expansion ( m&atory designations "u    
,nor? ,korea ,sanctions & ,policy       
,enhancem5t ,act ( #bjaf4 ,sec4 #aad4   
,ext5sion ( applicability p]iod (       
prolif]ation prev5tion sanctions4 ,sec4 
#aae4 ,s5se ( ,congress on id5tification
 & block+ ( prop]ty ( ,nor? ,korean     
(ficials4 ,sec4 #aaf4 ,modification (   
report on implem5tation ( ,unit$        
,nations ,security ,c\ncil resolutions  
by o!r gov]nm5ts4 ,sec4 #aag4 ,report on
 use by ! ,gov]nm5t ( ,nor? ,korea (    
b5eficial own]%ip rules to access !     
int]national f9ancial sy/em4 ,subtitle  
,b--,congressional review & ov]sight    
,sec4 #aba4 ,notification ( t]m9ation or
 susp5sion ( sanctions4 ,sec4 #abb4     
,reports on c]ta9 lic5s+ actions4 ,sec4 
#abc4 ,brief+s on implem5tation &       
en=cem5t ( sanctions4 ,sec4 #abd4       
,report on f9ancial networks & f9ancial 
me?ods ( ! ,gov]nm5t ( ,nor? ,korea4    
,sec4 #abe4 ,report on c\ntries ( conc]n

 ) respect to trans%ipm5t1              
reexportation1 or div]sion ( c]ta9 items
 to ,nor? ,korea4 ,subtitle ,c--,g5]al  
matt]s ,sec4 #aca4 ,rulemak+4 ,sec4     
#acb4 ,au?ority to consolidate reports4 
,sec4 #acc4 ,waiv]s1 exemptions1 &      
t]m9ation4 ,sec4 #acd4 ,proc$ures =     
review ( classifi$ in=mation4 ,sec4     
#ace4 ,brief+ on prolif]ation f9anc+4   
,,title ,,ii--,dive/m5t f ,nor? ,korea  
,sec4 #bja4 ,au?ority ( ,/ate & local   
gov]nm5ts to dive/ f companies t inve/ 9
 ,nor? ,korea4 ,sec4 #bjb4 ,safe h>bor =
 *anges ( inve/m5t policies by asset    
manag]s4 ,sec4 #bjc4 ,s5se ( ,congress  
reg>d+ c]ta9 ,,erisa plan inve/m5ts4    
,sec4 #bjd4 ,rule ( con/ruction4 ,,title
 ,,iii--,f9ancial indu/ry guidance to   
halt traffick+ ,sec4 #cja4 ,%ort title4 
,sec4 #cjb4 ,f9d+s4 ,sec4 #cjc4 ,s5se ( 
,congress4 ,sec4 #cjd4 ,coord9ation (   
human traffick+ issues by ! ,(fice (    
,t]rorism & ,f9ancial ,intellig5ce4     
,sec4 #cje4 ,/r5g!n+ ! role ( anti-money
 laund]+ & o!r f9ancial tools 9 combat+ 

human traffick+4 ,sec4 #cjf4 ,s5se (    
,congress on res\rces to combat human   
traffick+4  ,i ,sanctions ) respect to  
,nor? ,korea  #aja4 ,f9d+s ,congress    
f9ds ! foll[+3 7#a7 ,s9ce #bjjf1 !      
,unit$ ,nations ,security ,c\ncil has   
adopt$ #aj resolutions impos+ sanctions 
aga9/ ,nor? ,korea "u *apt] ,,vii ( !   
,unit$ ,nations ,*>t]1 :i*--  7,a7      
prohibit ! use1 developm5t1 &           
prolif]ation ( weapons ( mass de/ruction
 by ,nor? ,korea2  7,b7 prohibit !      
supply1 sale1 or transf] ( arms & relat$
 mat]iel to or f ,nor? ,korea2  7,c7    
prohibit ! transf] ( luxury goods to    
,nor? ,korea2  7,d7 re/rict access by   
,nor? ,korea to f9ancial s]vices t c\ld 
contribute to nucle>1 missile1 or o!r   
programs relat$ to ! developm5t (       
weapons ( mass de/ruction2  7,e7 re/rict
 ,nor? ,korean %ipp+1 includ+ !         
regi/ration1 reflagg+1 or insur+ ( ,nor?
 ,korean %ips2  7,f7 prohibit1 ) limit$ 
exceptions1 ,nor? ,korean exports (     
coal1 preci\s metals1 iron1 vanadium1 & 

r>e e>? m9]als2  7,g7 prohibit ! transf]
 to ,nor? ,korea ( rocket1 aviation1 or 
jet fuel1 z well z gasol9e1 cond5sates1 
& natural gas liquids2  7,h7 prohibit   
new "w au?orization = ,nor? ,korean     
labor]s & require ! repatriation ( all  
,nor? ,korean labor]s by ,decemb] #bjai2
  7,i7 prohibit exports ( ,nor? ,korean 
food & agricultural products1 includ+   
seafood2  7,j7 prohibit jo9t v5tures or 
coop]ative comm]cial entities or exp&+  
jo9t v5tures ) ,nor? ,korea2  7,k7      
prohibit exports ( ,nor? ,korean        
textiles2  7,l7 require memb] c\ntries (
 ! ,unit$ ,nations to seize1 inspect1 & 
imp\nd any %ip 9 its jurisdiction t is  
suspect$ ( violat+ ,security ,c\ncil    
resolutions ) respect to ,nor? ,korea & 
to int]dict & inspect all c>go head+ to 
or f ,nor? ,korea by l&1 sea1 or air2   
7,m7 limit ! transf] to ,nor? ,korea (  
ref9$ petroleum products & crude oil2   
7,n7 ban ! sale or transf] to ,nor?     
,korea ( indu/rial ma*9]y1              
transportation vehicles1 electronics1   

iron1 /eel1 & o!r metals2  7,o7 r$uce   
,nor? ,korean diplomatic /aff numb]s 9  
memb] c\ntries ( ! ,unit$ ,nations &    
expel any ,nor? ,korean diplomats f\nd  
to be work+ on behalf ( a p]son subject 
to sanctions or assi/+ 9 sanctions      
evasion2  7,p7 limit ,nor? ,korean      
diplomatic missions abroad ) respect to 
/aff size & access to bank+ privileges &
 prohibit comm]ce f be+ conduct$ out (  
,nor? ,korean consul> or diplomatic     
(fices2  7,q7 require memb] /ates ( !   
,unit$ ,nations to close repres5tative  
(fices1 subsidi>ies1 & bank acc\nts 9   
,nor? ,korea2  7,r7 prohibit c\ntries f 
provid+ or receiv+ milit>y tra9+ to or f
 ,nor? ,korea or ho/+ ,nor? ,koreans =  
specializ$ tea*+ or tra9+ t c\ld        
contribute to ! programs ( ,nor? ,korea 
relat$ to ! developm5t ( weapons ( mass 
de/ruction2  7,s7 ban c\ntries f grant+ 
l&+ & flyov] rights to ,nor? ,korean    
aircraft2 &  7,t7 prohibit trade 9      
/atu>y ( ,nor? ,korean orig94  7#b7 ,!  
,gov]nm5t ( ,nor? ,korea has ?reat5$ to 

c>ry out nucle> attacks aga9/ ! ,unit$  
,/ates1 ,s\? ,korea1 & ,japan4  7#c7 ,! 
,gov]nm5t ( ,nor? ,korea te/$ its six? &
 l>ge/ nucle> device on ,septemb] #c1   
#bjag4  7#d7 ,accord+ to a report by !  
,int]national ,atomic ,en]gy ,ag5cy     
releas$ 9 ,augu/ #bjah1 ,! cont9uation &
 fur!r developm5t ( ! ,,dprk's nucle>   
programme & relat$ /atem5ts by ! ,,dprk 
are a cause = grave conc]n4 ,! ,,dprk's 
nucle> activities1 includ+ ^? 9 relation
 to ! ,yongbyon ,exp]im5tal ,nucle> ,p[]
 ,plant 7#e ,,mw7e77 reactor1 ! use ( ! 
build+ :i* h\ses ! report$ c5trifuge    
enri*m5t facility & ! con/ruction at !  
light wat] reactor1 z well z ! ,,dprk's 
six? nucle> te/1 are cle> violations (  
relevant ,,un ,security ,c\ncil         
resolutions1 includ+ resolution #bcge   
7#bjag7 & are deeply regrettable44  7#e7
 ,9 ,july #bjah1 ,secret>y ( ,/ate ,mike
 ,pompeo te/ifi$ to ! ,committee on     
,=eign ,relations ( ! ,s5ate t ,nor?    
,korea cont9ues to produce fissile      
mat]ial despite public pl$ges by ,nor?  

,korean lead] ,kim ,jong-un to          
d5ucle>ize4  7#f7 ,! #bjai ,missile     
,def5se ,review conduct$ by ! ,dep>tm5t 
( ,def5se /ates t ,nor? ,korea cont9ues 
to pose an extraord9>y ?reat & ! ,unit$ 
,/ates mu/ rema9 vigilant4 ,9 ! pa/1    
,nor? ,korea frequ5tly issu$ explicit   
nucle> missile ?reats aga9/ ! ,unit$    
,/ates & allies1 all ! :ile work+       
aggressively to field ! capability to   
/rike ! ,u4,s4 homel& ) nucle>-arm$     
balli/ic missiles4 ,ov] ! pa/ decade1 x 
has inve/$ consid]able res\rces 9 its   
nucle> & balli/ic missile programs1 &   
und]tak5 ext5sive nucle> & missile te/+ 
9 ord] to realize ! capability to ?reat5
 ! ,u4,s4 homel& ) missile attack4 ,z a 
result1 ,nor? ,korea has ne>$ ! "t :5 x 
c\ld cr$ibly d s44  7#g7 ,f9ancial      
transactions & inve/m5ts t provide      
f9ancial res\rces to ! ,gov]nm5t ( ,nor?
 ,korea1 & t fail to incorporate        
adequate safegu>ds aga9/ ! misuse ( ^?  
f9ancial res\rces1 pose an undue risk ( 
contribut+ to--  7,a7 weapons ( mass    

de/ruction programs ( t ,gov]nm5t2 &    
7,b7 ef=ts to evade re/rictions requir$ 
by ! ,unit$ ,nations ,security ,c\ncil  
on imports or exports ( arms & relat$   
mat]iel1 s]vices1 or te*nology by t     
,gov]nm5t4  7#h7 ,! ,f$]al ,bureau (    
,inve/igation has det]m9$ t ! ,gov]nm5t 
( ,nor? ,korea 0 responsible =          
cyb]attacks aga9/ entities 9 ! ,unit$   
,/ates1 ,s\? ,korea1 & ar\nd ! _w4  7#i7
 ,9 ,novemb] #bjag1 ,presid5t ,donald   
,trump designat$ ! gov]nm5t ( ,nor?     
,korea z a /ate sponsor ( t]rorism      
pursuant to au?orities "u ! ,export     
,adm9i/ration ,act ( #aigi 7#ej         
,u4,s4,c4 ,app4 #bdja et seq471 z       
cont9u$ 9 effect at ! "t "u !           
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq471 !   
,=eign ,assi/ance ,act ( #aifa 7#bb     
,u4,s4,c4 #baea et seq471 & ! ,arms     
,export ,control ,act 7#bb ,u4,s4,c4    
#bgea et seq472  7#aj7 ,on ,febru>y #bb1
 #bjah1 ! ,secret>y ( ,/ate det]m9$ t ! 
,gov]nm5t ( ,nor? ,korea 0 responsible =

 ! le?al n]ve ag5t attack 9 #bjag on    
,kim ,jong ,nam1 ! half-bro!r ( ,nor?   
,korean lead] ,kim ,jong-un1 9          
,malaysia1 trigg]+ sanctions requir$ "u 
! ,*emical & ,biological ,weapons       
,control & ,w>f>e ,elim9ation ,act (    
#aiia 7#bb ,u4,s4,c4 #efja et seq474    
7#aa7 ,! /rict en=cem5t ( sanctions is  
ess5tial to ! ef=ts ( ! int]national    
community to a*ieve ! peaceful1         
complete1 v]ifiable1 & irrev]sible      
dismantlem5t ( weapons ( mass de/ruction
 programs ( ! ,gov]nm5t ( ,nor? ,korea4 
#ajb4 ,s5se ( ,congress ,x is ! s5se (  
,congress t-- 7#a7 ! ,unit$ ,/ates is   
committ$ to work+ ) its allies & p>tn]s 
to halt ! nucle> & balli/ic missile     
programs ( ,nor? ,korea ?r\gh a policy (
 maximum pressure & diplomatic          
engagem5t2  7#b7 ! imposition (         
sanctions1 includ+ ^? "u ?is ,act1 %\ld 
n be con/ru$ to limit ! au?ority ( !    
,presid5t to fully engage 9 diplomatic  
negotiations to fur!r ! policy objective
 describ$ 9 p>agraph 7#a72  7#c7 !      

successful use ( sanctions to halt !    
nucle> & balli/ic missile programs (    
,nor? ,korea is "p ( a broad] diplomatic
 & economic /rategy t relies on         
effective coord9ation among relevant    
,f$]al ag5cies & (ficials1 z well z )   
int]national p>tn]s ( ! ,unit$ ,/ates2 &
  7#d7 ! coord9ation describ$ 9 p>agraph
 7#c7 %\ld include prop] vett+ ( ext]nal
 messag+ & communications f all p>ts ( !
 ,executive bran* to ensure t ^?        
communications are an int5tional        
compon5t ( & align$ ) ! /rategy ( !     
,unit$ ,/ates ) respect to ,nor? ,korea4
  #ajc4 ,def9itions  7a7 ,9 g5]al ,9 ?is
 title1 ! t]ms applicable ,executive    
ord]1 applicable ,unit$ ,nations        
,security ,c\ncil resolution1           
appropriate congressional committees1   
,gov]nm5t ( ,nor? ,korea1 ,nor? ,korea1 
& ,nor? ,korean f9ancial in/itution h ! 
mean+s giv5 ^? t]ms 9 section #c ( !    
,nor? ,korea ,sanctions & ,policy       
,enhancem5t ,act ( #bjaf 7#bb ,u4,s4,c4 
#ibjb71 z am5d$ by subsection 7b74  7b7 

,am5dm5ts to def9itions 9 ,nor? ,korea  
,sanctions & ,policy ,enhancem5t ,act ( 
#bjaf ,section #c ( ! ,nor? ,korea      
,sanctions & ,policy ,enhancem5t ,act ( 
#bjaf 7#bb ,u4,s4,c4 #ibjb7 is am5d$--  
7#a7 9 p>agraph 7#a77;,a71 9 ! matt]    
prec$+ clause 7i71 by /rik+ ,executive  
,ord] ,no4 #acfid & all t foll[s ?r\gh  
to ! ext5t t & ins]t+ ! foll[+3         
,executive ,ord] #acfid 7#ej ,u4,s4,c4  
#agja note2 relat+ to block+ ! prop]ty (
 c]ta9 p]sons engag+ 9 significant      
malici\s cyb]-enabl$ activities71       
,executive ,ord] #acgbb 7#ej ,u4,s4,c4  
#agja note2 relat+ to block+ ! prop]ty (
 ! ,gov]nm5t ( ,nor? ,korea & ! ,work]s'
 ,p>ty ( ,korea1 & prohibit+ c]ta9      
transactions ) respect to ,nor? ,korea71
 or ,executive ,ord] #achaj 7#hb ,f$4   
,reg4 #ddgje2 relat+ to impos+          
additional sanctions ) respect to ,nor? 
,korea71 to ! ext5t t2 &  7#b7 9        
p>agraph 7#b77;,a71 by /rik+ or #bcba   
7#bjaf7 & ins]t+ #bcba 7#bjaf71 #bcef   
7#bjag71 #bcga 7#bjag71 #bcge 7#bjag71  

or #bcig 7#bjag74  ,a ,expansion (      
sanctions & relat$ matt]s  #aaa4        
,sanctions ) respect to =eign f9ancial  
in/itutions t provide f9ancial s]vices  
to c]ta9 sanction$ p]sons  7a7 ,9 g5]al 
,title ,,ii ( ! ,nor? ,korea ,sanctions 
& ,policy ,enhancem5t ,act ( #bjaf 7#bb 
,u4,s4,c4 #ibba et seq47 is am5d$ by    
ins]t+ aft] ! item relat+ to section    
#bja;,a ! foll[+3  #bja;,b4 ,sanctions )
 respect to =eign f9ancial in/itutions t
 provide f9ancial s]vices to c]ta9      
sanction$ p]sons  7a7 ,9 g5]al ,!       
,secret>y ( ! ,treasury %all impose "o  
or m ( ! sanctions describ$ 9 subsection
 7b7 ) respect to a =eign f9ancial      
in/itution t ! ,secret>y det]m9es1 on or
 aft] ! date t is #ij days aft] ! date (
 ! enactm5t ( ! ,otto ,w>mbi] ,bank+    
,re/rictions ,involv+ ,nor? ,korea ,act 
( #bjai1 kn[+ly provides significant    
f9ancial s]vices to any p]son designat$ 
= ! imposition ( sanctions "u-- 7#a7    
subsection 7a7 or 7b7 ( section #ajd2   
7#b7 an applicable ,executive ord]2 or  

7#c7 an applicable ,unit$ ,nations      
,security ,c\ncil resolution4  7b7      
,sanctions describ$ ,! sanctions t may  
be impos$ ) respect to a =eign f9ancial 
in/itution subject to subsection 7a7 are
 ! foll[+3 7#a7 ,asset block+ ,!        
,secret>y may block & prohibit1 pursuant
 to ! ,int]national ,em]g5cy ,economic  
,p[]s ,act 7#ej ,u4,s4,c4 #agja et      
seq471 all transactions 9 all prop]ty & 
int]e/s 9 prop]ty ( ! =eign f9ancial    
in/itution if su* prop]ty & int]e/s 9   
prop]ty are 9 ! ,unit$ ,/ates1 come )9 !
 ,unit$ ,/ates1 or are or come )9 !     
possession or control ( a ,unit$ ,/ates 
p]son4  7#b7 ,re/rictions on            
correspond5t & payable-?r\gh acc\nts ,! 
,secret>y may prohibit1 or impose /rict 
conditions on1 ! op5+ or ma9ta9+ 9 !    
,unit$ ,/ates ( a correspond5t acc\nt or
 a payable-?r\gh acc\nt by ! =eign      
f9ancial in/itution4  7c7               
,implem5tation2 p5alties  7#a7          
,implem5tation ,! ,presid5t may ex]cise 
all au?orities provid$ "u sections #bjc 

& #bje ( ! ,int]national ,em]g5cy       
,economic ,p[]s ,act 7#ej ,u4,s4,c4     
#agjb & #agjd7 to c>ry out ?is section4 
7#b7 ,p5alties ,a p]son t violates1     
attempts to violate1 conspires to       
violate1 or causes a violation ( ?is    
section or any regulation1 lic5se1 or   
ord] issu$ to c>ry out ?is section %all 
be subject to ! p5alties set =? 9       
subsections 7b7 & 7c7 ( section #bjf ( !
 ,int]national ,em]g5cy ,economic ,p[]s 
,act 7#ej ,u4,s4,c4 #agje7 to ! same    
ext5t z a p]son t commits an unlawful   
act describ$ 9 subsection 7a7 ( t       
section4  7d7 ,regulations ,n lat] ?an  
#abj days aft] ! date ( ! enactm5t ( !  
,otto ,w>mbi] ,bank+ ,re/rictions       
,involv+ ,nor? ,korea ,act ( #bjai1 !   
,presid5t %all1 z appropriate1 prescribe
 regulations to c>ry out ?is section4   
7e7 ,def9itions ,9 ?is section3 7#a7    
,acc\nt2 correspond5t acc\nt2           
payable-?r\gh acc\nt ,! t]ms acc\nt1    
correspond5t acc\nt1 & payable-?r\gh    
acc\nt h ! mean+s giv5 ^? t]ms 9 section

 #ecah;,a ( title #ca1 ,unit$ ,/ates    
,code4  7#b7 ,f9ancial in/itution ,! t]m
 f9ancial in/itution means a f9ancial   
in/itution specifi$ 9 subp>agraph 7,a71 
7,b71 7,c71 7,d71 7,e71 7,f71 7,g71     
7,h71 7,i71 7,j71 7,m71 or 7,y7 (       
section #ecab7;a77#b7 ( title #ca1      
,unit$ ,/ates ,code4  7#c7 ,=eign       
f9ancial in/itution ,! t]m =eign        
f9ancial in/itution %all h ! mean+ ( t  
t]m z det]m9$ by ! ,secret>y ( !        
,treasury4  7#d7 ,kn[+ly ,! t]m kn[+ly1 
) respect to conduct1 a circum/ance1 or 
a result1 means t a p]son has actual k1 
or %\ld h kn[n1 ( ! conduct1 !          
circum/ance1 or ! result4  4  7b7       
,cl]ical am5dm5t ,! table ( cont5ts = ! 
,nor? ,korea ,sanctions & ,policy       
,enhancem5t ,act ( #bjaf is am5d$ by    
ins]t+ aft] ! item relat+ to section    
#bja;,a ! foll[+3  #bja;,b4 ,sanctions )
 respect to =eign f9ancial in/itutions t
 provide f9ancial s]vices to c]ta9      
sanction$ p]sons4  4  #aab4             
,codification ( ,executive ord]s relat+ 

to sanctions ) respect to ,nor? ,korea  
7a7 ,9 g5]al ,section #baj ( ! ,nor?    
,korea ,sanctions & ,policy ,enhancem5t 
,act ( #bjaf 7#bb ,u4,s4,c4 #ibcj7 is   
am5d$-- 7#a7 by /rik+ ,unit$ ,/ates     
sanctions & all t foll[s ?r\gh ! date ( 
! enactm5t ( ?is ,act & ins]t+ ,unit$   
,/ates sanctions provid$ = 9 ,executive 
,ord] #acfhg 7#ej ,u4,s4,c4 #agja note2 
relat+ to impos+ additional sanctions ) 
respect to ,nor? ,korea71 ,executive    
,ord] #acfid 7#ej ,u4,s4,c4 #agja note2 
relat+ to block+ ! prop]ty ( c]ta9      
p]sons engag+ 9 significant malici\s    
cyb]-enabl$ activities71 ,executive     
,ord] #acgbb 7#ej ,u4,s4,c4 #agja note2 
relat+ to block+ ! prop]ty ( ! ,gov]nm5t
 ( ,nor? ,korea & ! ,work]s' ,p>ty (    
,korea1 & prohibit+ c]ta9 transactions )
 respect to ,nor? ,korea71 or ,executive
 ,ord] #achaj 7#hb ,f$4 ,reg4 #ddgje2   
relat+ to impos+ additional sanctions ) 
respect to ,nor? ,korea71 z su*         
,executive ,ord]s are 9 effect on ! day 
be=e ! date ( ! enactm5t ( ! ,otto      

,w>mbi] ,bank+ ,re/rictions ,involv+    
,nor? ,korea ,act ( #bjai2  7#b7 by     
/rik+ ! ,gov]nm5t ( ,nor? ,korea1 p]sons
 act+ = or on behalf ( t ,gov]nm5t1 &   
p]sons own$ or controll$1 directly or   
indirectly1 by t ,gov]nm5t or p]sons    
act+ = or on behalf ( t ,gov]nm5t1 &    
ins]t+ p]sons subject to su* sanctions2 
&  7#c7 by /rik+ & #bjid 7#bjac7 &      
ins]t+ #bjid 7#bjac71 #bbgj 7#bjaf71    
#bcba 7#bjaf71 #bcef 7#bjag71 #bcga     
7#bjag71 #bcge 7#bjag71 & #bcig 7#bjag74
  7b7 ,con=m+ am5dm5t ,section #baj ( ! 
,nor? ,korea ,sanctions & ,policy       
,enhancem5t ,act ( #bjaf 7#bb ,u4,s4,c4 
#ibcj7 is am5d$ 9 ! section head+ by    
/rik+ sanctions ) respect to ,nor?      
,korean activities und]m9+ cyb]security 
& ins]t+ ,executive ord]s relat+ to     
sanctions ) respect to ,nor? ,korea4    
7c7 ,cl]ical am5dm5t ,! table ( cont5ts 
= ! ,nor? ,korea ,sanctions & ,policy   
,enhancem5t ,act ( #bjaf is am5d$ by    
/rik+ ! item relat+ to section #baj &   
ins]t+ ! foll[+3  ,sec4 #baj4           

,codification ( ,executive ord]s relat+ 
to sanctions ) respect to ,nor? ,korea4 
4  #aac4 ,expansion ( m&atory           
designations "u ,nor? ,korea ,sanctions 
& ,policy ,enhancem5t ,act ( #bjaf  7a7 
,9 g5]al ,section #ajd7;a7 ( ! ,nor?    
,korea ,sanctions & ,policy ,enhancem5t 
,act ( #bjaf 7#bb ,u4,s4,c4 #ibad7;a77  
is am5d$-- 7#a7 9 p>agraph 7#ad71 by    
/rik+ or at ! end2  7#b7 by r$esignat+  
p>agraph 7#ae7 z p>agraph 7#bd72  7#c7  
by ins]t+ aft] p>agraph 7#ad7 ! foll[+3 
7#ae7 kn[+ly1 directly or indirectly1   
pur*ases or o!rwise acquires f ,nor?    
,korea significant quantities ( coal1   
iron1 or iron ore2  7#af7 kn[+ly1       
directly or indirectly1 provides to     
,nor? ,korea coal1 iron1 or iron ore2   
7#ag7 kn[+ly1 directly or indirectly1   
pur*ases or o!rwise acquires textiles f 
,nor? ,korea2  7#ah7 kn[+ly facilitates 
a significant transf] ( funds or prop]ty
 f ,nor? ,korea t mat]ially contributes 
to any violation ( an applicable ,unit$ 
,nations ,security ,c\ncil resolution2  

7#ai7 kn[+ly1 directly or indirectly1   
pur*ases or o!rwise acquires significant
 types or am\nts ( seafood f ,nor?      
,korea2  7#bj7 kn[+ly1 directly or      
indirectly1 engages 91 facilitates1 or  
is responsible = ! exportation ( work]s 
f ,nor? ,korea2  7#ba7 kn[+ly1 directly 
or indirectly1 sells or transf]s vessels
 to ,nor? ,korea1 except z specifically 
approv$ by ! ,unit$ ,nations ,security  
,c\ncil2  7#bb7 kn[+ly1 directly or     
indirectly1 supplies1 sells1 or transf]s
 to ,nor? ,korea crude oil or ref9$     
petroleum products 9 excess ( !         
aggregate am\nts e/abli%$ 9 applicable  
,unit$ ,nations ,security ,c\ncil       
resolutions2  7#bc7 kn[+ly contributes  
to-- 7,a7 ! brib]y ( an (ficial ( !     
,gov]nm5t ( ,nor? ,korea or any p]son   
act+ = or on behalf ( t (ficial2  7,b7 !
 misappropriation1 !ft1 or embezzlem5t (
 public funds by1 or = ! b5efit (1 an   
(ficial ( ! ,gov]nm5t ( ,nor? ,korea or 
any p]son act+ = or on behalf ( t       
(ficial2 or  7,c7 ! use ( any proce$s ( 

any activity describ$ 9 subp>agraph 7,a7
 or 7,b72 or  2 &  7#d7 9 p>agraph      
7#bd71 z r$esignat$ by p>agraph 7#b71 by
 /rik+ ?r\gh 7#ad7 & ins]t+ ?r\gh 7#bc74
  7b7 ,con=m+ am5dm5ts ,! ,nor? ,korea  
,sanctions & ,policy ,enhancem5t ,act ( 
#bjaf is am5d$--  7#a7 9 section        
#ajd7;b77#a7 7#bb ,u4,s4,c4             
#ibad7;b77#a77-- 7,a7 by /rik+          
subp>agraphs 7,b71 7,d71 7,e71 7,f71 &  
7,l72 &  7,b7 by r$esignat+ subp>agraphs
 7,c71 7,g71 7,h71 7,i71 7,j71 7,k71    
7,m71 & 7,n7 z subp>agraphs 7,b71 7,c71 
7,d71 7,e71 7,f71 7,g71 7,h71 & 7,i71   
respectively2 &  7#b7 9 section         
#cjb7;b77#c7 7#bb ,u4,s4,c4             
#ibda7;b77#c771 by /rik+ section        
#ajd7;b77#a77,m7 & ins]t+ section       
#ajd7;a77#bj74  #aad4 ,ext5sion (       
applicability p]iod ( prolif]ation      
prev5tion sanctions ,section            
#bjc7;b77#b7 ( ! ,nor? ,korea ,sanctions
 & ,policy ,enhancem5t ,act ( #bjaf 7#bb
 ,u4,s4,c4 #ibbc7;b77#b77 is am5d$ by   
/rik+ #b ye>s & ins]t+ #e ye>s4  #aae4  

,s5se ( ,congress on id5tification &    
block+ ( prop]ty ( ,nor? ,korean        
(ficials ,x is ! s5se ( ,congress t !   
,presid5t %\ld--  7#a7 enc\rage         
int]national collaboration ?r\gh !      
,f9ancial ,action ,task ,=ce & its      
network ( ,f9ancial ,action ,task       
,=ce-/yle regional bodies to apply be/  
practices 9 disrupt+ money laund]+      
relat$ to kleptocracy & corruption1     
especially z x relates to ,nor? ,korea2 
&  7#b7 prioritize multilat]al ef=ts to 
id5tify & block--  7,a7 any prop]ty own$
 or controll$ by a ,nor? ,korean        
(ficial2 &  7,b7 any significant proce$s
 ( kleptocracy by ! ,gov]nm5t ( ,nor?   
,korea or a ,nor? ,korean (ficial4      
#aaf4 ,modification ( report on         
implem5tation ( ,unit$ ,nations         
,security ,c\ncil resolutions by o!r    
gov]nm5ts ,section #cag ( ! ,korean     
,int]diction & ,mod]nization (          
,sanctions ,act 7title ,,iii ( ,public  
,law #aae-dd2 #aca ,/at4 #iej7 is       
am5d$-- 7#a7 9 subsection 7a7--  7,a7 9 

! matt] prec$+ p>agraph 7#a71 by /rik+  
,n lat] ?an #ahj days aft] ! date ( !   
enactm5t ( ?is ,act1 & annually !reaft] 
= #e ye>s1 & ins]t+ ,n lat] ?an #ahj    
days aft] ! date ( ! enactm5t ( ! ,otto 
,w>mbi] ,bank+ ,re/rictions ,involv+    
,nor? ,korea ,act ( #bjai1 & annually   
!reaft] = #e ye>s12  7,b7 9 p>agraph    
7#c71 by /rik+ 2 or & ins]t+ a          
semicolon2  7,c7 by r$esignat+ p>agraph 
7#d7 z p>agraph 7#h72 &  7,d7 by ins]t+ 
aft] p>agraph 7#c7 ! foll[+3  7#d7      
prohibit1 9 ! t]ritories ( su* c\ntries 
or by p]sons subject to ! jurisdiction (
 su* gov]nm5ts1 ! op5+ ( new jo9t       
v5tures or coop]ative entities ) ,nor?  
,korean p]sons or ! expansion ( exi/+   
jo9t v5tures ?r\gh additional inve/m5ts1
 :e!r or n = or on behalf ( ! ,gov]nm5t 
( ,nor? ,korea1 unless su* jo9t v5tures 
or coop]ative entities h be5 approv$ by 
! ,committee ( ! ,unit$ ,nations        
,security ,c\ncil e/abli%$ by ,unit$    
,nations ,security ,c\ncil ,resolution  
#agah 7#bjjf72  7#e7 prohibit !         

unau?oriz$ cle>+ ( funds by ,nor?       
,korean f9ancial in/itutions ?r\gh      
f9ancial in/itutions subject to !       
jurisdiction ( su* gov]nm5ts2  7#f7     
prohibit ! unau?oriz$ conduct (         
comm]cial trade ) ,nor? ,korea t is     
prohibit$ "u applicable ,unit$ ,nations 
,security ,c\ncil resolutions2  7#g7    
prev5t ! provision ( f9ancial s]vices to
 ,nor? ,korean p]sons or ! transf] (    
f9ancial s]vices to ,nor? ,korean p]sons
 to1 ?r\gh1 or f ! t]ritories ( su*     
c\ntries or by p]sons subject to !      
jurisdiction ( su* gov]nm5ts2 or  2 &   
7#b7 by am5d+ subsection 7c7 to read z  
foll[s3  7c7 ,def9itions ,9 ?is section3
  7#a7 ,appropriate congressional       
committees & lead]%ip ,! t]m appropriate
 congressional committees & lead]%ip    
means-- 7,a7 ! ,committee on ,=eign     
,relations1 ! ,committee on ,bank+1     
,h\s+1 & ,urban ,affairs1 & ! majority &
 m9ority lead]s ( ! ,s5ate2 &  7,b7 !   
,committee on ,=eign ,affairs1 !        
,committee on ,f9ancial ,s]vices1 !     

,committee on ,ways & ,means1 & !       
,speak]1 ! majority lead]1 & ! m9ority  
lead] ( ! ,h\se ( ,repres5tatives4  7#b7
 ,applicable ,unit$ ,nations ,security  
,c\ncil resolution2 ,nor? ,korean       
f9ancial in/itution2 ,nor? ,korean p]son
 ,! t]ms applicable ,unit$ ,nations     
,security ,c\ncil resolution1 ,nor?     
,korean f9ancial in/itution1 & ,nor?    
,korean p]son h ! mean+s giv5 ^? t]ms 9 
section #c ( ! ,nor? ,korea ,sanctions &
 ,policy ,enhancem5t ,act ( #bjaf 7#bb  
,u4,s4,c4 #ibjb74  4  #aag4 ,report on  
use by ! ,gov]nm5t ( ,nor? ,korea (     
b5eficial own]%ip rules to access !     
int]national f9ancial sy/em  7a7 ,9     
g5]al ,n lat] ?an #ahj days aft] ! date 
( ! enactm5t ( ?is ,act1 ! ,secret>y ( !
 ,treasury %all submit to ! appropriate 
congressional committees a report sett+ 
=? ! f9d+s ( ! ,secret>y reg>d+ h[ !    
,gov]nm5t ( ,nor? ,korea is exploit+    
laws ) respect to ! b5eficial own] ( an 
entity 9 ord] to access ! int]national  
f9ancial sy/em4  7b7 ,elem5ts ,!        

,secret>y %all include 9 ! report       
requir$ "u subsection 7a7 proposals =   
su* legislative & adm9i/rative action z 
! ,secret>y consid]s appropriate to     
combat ! abuse by ! ,gov]nm5t ( ,nor?   
,korea ( %ell companies & o!r simil>    
entities to avoid or evade sanctions4   
7c7 ,=m ,! report requir$ by subsection 
7a7 %all be submitt$ 9 unclassifi$ =m b 
may include a classifi$ annex4  7d7     
,b5eficial own] def9$  7#a7 ,9 g5]al ,9 
?is section1 ! t]m b5eficial own]--     
7,a7 means1 ) respect to an entity1 ea* 
natural p]son :o1 directly or           
indirectly-- 7i7 ex]cises control ov] ! 
entity ?r\gh own]%ip int]e/s1 vot+      
rights1 agreem5ts1 or o!rwise2 or  7ii7 
has an int]e/ 9 or receives sub/antial  
economic b5efits f ! assets ( ! entity2 
&  7,b7 does n include1 ) respect to an 
entity--  7i7 a m9or *ild2  7ii7 a p]son
 act+ z a nom9ee1 int]m$i>y1 cu/odian1  
or ag5t on behalf ( ano!r p]son2  7iii7 
a p]son act+ solely z an employee ( !   
entity & ^: control ov] or economic     

b5efits f ! entity d]ives solely f !    
employm5t /atus ( ! p]son2  7iv7 a p]son
 ^: only int]e/ 9 ! entity is ?r\gh a "r
 ( inh]itance1 unless ! p]son o!rwise   
meets ! def9ition ( a b5eficial own] "u 
?is subsection2 &  7v7 a cr$itor ( !    
entity1 unless ! cr$itor o!rwise meets !
 def9ition ( a b5eficial own] "u ?is    
subsection4  7#b7 ,anti-abuse rule ,!   
exceptions "u p>agraph 7#a77;,b7 %all n 
apply if us$ = ! purpose ( evad+1       
circumv5t+1 or abus+ laws describ$ 9    
subsection 7a74  ,b ,congressional      
review & ov]sight  #aba4 ,notification (
 t]m9ation or susp5sion ( sanctions ,n  
less ?an #ae days be=e tak+ any action  
to t]m9ate or susp5d ! application (    
sanctions "u ?is title or an am5dm5t    
made by ?is title1 ! ,presid5t %all     
notify ! appropriate congressional      
committees ( ! ,presid5t's int5t to take
 ! action & ! reasons = ! action4  #abb4
 ,reports on c]ta9 lic5s+ actions  7a7  
,9 g5]al ,n lat] ?an #ahj days aft] !   
date ( ! enactm5t ( ?is ,act1 & e #ahj  

days !reaft]1 ! ,presid5t %all submit to
 ! appropriate congressional committees 
a report on ! op]ation ( ! sy/em = issu+
 lic5ses = transactions "u cov]$        
regulatory provisions dur+ ! prec$+     
#ahj-;day p]iod t includes--  7#a7 !    
numb] & types ( su* lic5ses appli$ =    
dur+ t p]iod2  7#b7 ! numb] & types (   
su* lic5ses issu$ dur+ t p]iod2 &  7#c7 
a summ>y ( all g5]al & specific lic5ses 
issu$ ) respect to ,nor? ,korea4  7b7   
,cov]$ regulatory provision def9$ ,9 ?is
 section1 ! t]m cov]$ regulatory        
provision means any ( ! foll[+          
provisions1 z 9 effect on ! day be=e !  
date ( ! enactm5t ( ?is ,act & z su*    
provisions relate to ,nor? ,korea3  7#a7
 ,"p #gdc1 #gdd1 or #gdf ( title #ae1   
,code ( ,f$]al ,regulations4  7#b7 ,"p  
#eaj ( title #ca1 ,code ( ,f$]al        
,regulations4  7#c7 ,any o!r provision (
 title #ca1 ,code ( ,f$]al ,regulations4
  7c7 ,=m ,ea* report requir$ by        
subsection 7a7 %all be submitt$ 9       
unclassifi$ =m b may include a classifi$

 annex4  #abc4 ,brief+s on implem5tation
 & en=cem5t ( sanctions ,n lat] ?an #ij 
days aft] ! date ( ! enactm5t ( ?is     
,act1 & e #ahj days !reaft]1 ! ,secret>y
 ( ! ,treasury %all provide to !        
appropriate congressional committees a  
brief+ on ef=ts relat+ to !             
implem5tation & en=cem5t ( ,unit$ ,/ates
 sanctions ) respect to ,nor? ,korea1   
includ+ appropriate updates on ! ef=ts (
 ! ,dep>tm5t ( ! ,treasury to address   
compliance ) su* sanctions by =eign     
f9ancial in/itutions4  #abd4 ,report on 
f9ancial networks & f9ancial me?ods ( ! 
,gov]nm5t ( ,nor? ,korea  7a7 ,report   
requir$  7#a7 ,9 g5]al ,n lat] ?an #ahj 
days aft] ! date ( ! enactm5t ( ?is     
,act1 & annually !reaft] ?r\gh #bjbe1 ! 
,presid5t %all submit to ! appropriate  
congressional committees a report on    
s\rces ( ext]nal support = ! ,gov]nm5t (
 ,nor? ,korea t includes--  7,a7 a      
description ( ! me?ods us$ by !         
,gov]nm5t ( ,nor? ,korea to deal 91     
transact 91 or conceal ! own]%ip1       

control1 or orig9 ( goods & s]vices     
export$ by ,nor? ,korea2  7,b7 an       
assessm5t ( ! relation%ip betwe5 !      
prolif]ation ( weapons ( mass de/ruction
 by ! ,gov]nm5t ( ,nor? ,korea & !      
f9ancial indu/ry or f9ancial            
in/itutions2  7,c7 an assessm5t ( !     
relation%ip betwe5 ! acquisition by !   
,gov]nm5t ( ,nor? ,korea ( milit>y      
exp]tise1 equipm5t1 & te*nology & !     
f9ancial indu/ry or f9ancial            
in/itutions2  7,d7 a description ( !    
export by any p]son to ! ,unit$ ,/ates (
 goods1 s]vices1 or te*nology t are made
 ) significant am\nts ( ,nor? ,korean   
labor1 mat]ial1 or goods1 includ+       
m9]als1 manufactur+1 seafood1 ov]seas   
labor1 or o!r exports f ,nor? ,korea2   
7,e7 an assessm5t ( ! involvem5t ( any  
p]son 9 human traffick+ involv+ citiz5s 
or nationals ( ,nor? ,korea2  7,f7 a    
description ( h[ ! ,presid5t plans to   
address ! fl[ ( funds g5]at$ by         
activities describ$ 9 subp>agraphs 7,a7 
?r\gh 7,e71 includ+ ?r\gh ! use (       

sanctions or o!r means2  7,g7 an        
assessm5t ( ! ext5t to :i* ! ,gov]nm5t (
 ,nor? ,korea engages 9 crim9al         
activities1 includ+ money laund]+1 to   
support t ,gov]nm5t2  7,h7 in=mation    
relat+ to ! id5tification1 block+1 &    
release ( prop]ty describ$ 9 section    
#bja;,b7b77#a7 ( ! ,nor? ,korea         
,sanctions & ,policy ,enhancem5t ,act ( 
#bjaf1 z add$ by section #aaa2  7,i7 a  
description ( ! metrics us$ to measure !
 effectiv5ess ( law en=cem5t &          
diplomatic initiatives ( ,f$]al1 ,/ate1 
& =eign gov]nm5ts to comply ) !         
provisions ( applicable ,unit$ ,nations 
,security ,c\ncil resolutions2 &  7,j7  
an assessm5t ( ! effectiv5ess ( programs
 )9 ! f9ancial indu/ry to ensure        
compliance ) ,unit$ ,/ates sanctions1   
applicable ,unit$ ,nations ,security    
,c\ncil resolutions1 & applicable       
,executive ord]s4  7#b7 ,=m ,ea* report 
requir$ by p>agraph 7#a7 %all be        
submitt$ 9 unclassifi$ =m b may include 
a classifi$ annex4  7b7 ,int]ag5cy      

coord9ation ,! ,presid5t %all ensure t  
any in=mation collect$ pursuant to      
subsection 7a7 is %>$ among ! ,f$]al    
dep>tm5ts & ag5cies involv$ 9           
inve/igations describ$ 9 section        
#ajb7;b7 ( ! ,nor? ,korea ,sanctions &  
,policy ,enhancem5t ,act ( #bjaf 7#bb   
,u4,s4,c4 #ibab7;b774  #abe4 ,report on 
c\ntries ( conc]n ) respect to          
trans%ipm5t1 reexportation1 or div]sion 
( c]ta9 items to ,nor? ,korea  7a7 ,9   
g5]al ,n lat] ?an #ahj days aft] ! date 
( ! enactm5t ( ?is ,act1 & annually     
!reaft] ?r\gh #bjbc1 ! ,director (      
,national ,intellig5ce %all submit to ! 
,presid5t1 ! ,secret>y ( ,def5se1 !     
,secret>y ( ,comm]ce1 ! ,secret>y (     
,/ate1 ! ,secret>y ( ! ,treasury1 & !   
appropriate congressional committees a  
report t id5tifies all c\ntries t !     
,director det]m9es are ( conc]n )       
respect to trans%ipm5t1 reexportation1  
or div]sion ( items subject to !        
provisions ( ! ,export ,adm9i/ration    
,regulations "u sub*apt] ,c ( *apt]     

,,vii ( title #ae1 ,code ( ,f$]al       
,regulations1 to an entity own$ or      
controll$ by ! ,gov]nm5t ( ,nor? ,korea4
  7b7 ,=m ,ea* report requir$ by        
subsection 7a7 %all be submitt$ 9       
unclassifi$ =m b may include a classifi$
 annex4  ,c ,g5]al matt]s  #aca4        
,rulemak+ ,! ,presid5t %all prescribe   
su* rules & regulations z may be        
necess>y to c>ry out ?is title &        
am5dm5ts made by ?is title4  #acb4      
,au?ority to consolidate reports  7a7 ,9
 g5]al ,any & all reports requir$ to be 
submitt$ to ! appropriate congressional 
committees "u ?is title or an am5dm5t   
made by ?is title t are subject to a    
deadl9e = submission consi/+ ( ! same   
unit ( "t may be consolidat$ into a s+le
 report t is submitt$ pursuant to t     
deadl9e4  7b7 ,cont5ts ,any reports     
consolidat$ "u subsection 7a7 %all      
conta9 all in=mation requir$ "u ?is     
title or an am5dm5t made by ?is title & 
any o!r elem5ts t may be requir$ by     
exi/+ law4  #acc4 ,waiv]s1 exemptions1 &

 t]m9ation  7a7 ,application &          
modification ( exemptions & waiv]s f    
,nor? ,korea ,sanctions & ,policy       
,enhancem5t ,act ( #bjaf ,section #bjh (
 ! ,nor? ,korea ,sanctions & ,policy    
,enhancem5t ,act ( #bjaf 7#bb ,u4,s4,c4 
#ibbh7 is am5d$--  7#a7 by ins]t+       
#bja;,b1 aft] #bja;,a1 ea* place x      
appe>s2 &  7#b7 9 subsection 7c71 by    
ins]t+ 1 n less ?an #ae days be=e !     
waiv] takes effect1 aft] if ! ,presid5t4
  7b7 ,exception relat+ to importation (
 goods  7#a7 ,9 g5]al ,no provision     
affect+ sanctions "u ?is title or an    
am5dm5t made by ?is title %all apply to 
sanctions on ! importation ( goods4     
7#b7 ,good def9$ ,9 ?is subsection1 !   
t]m good means any article1 natural or  
man-made sub/ance1 mat]ial1 supply or   
manufactur$ product1 includ+ inspection 
& te/ equipm5t1 & exclud+ te*nical data4
  7c7 ,susp5sion  7#a7 ,9 g5]al ,subject
 to section #aba1 any requirem5t to     
impose sanctions "u ?is title or !      
am5dm5ts made by ?is title1 & any       

sanctions impos$ pursuant to ?is title  
or any su* am5dm5t1 may be susp5d$ = up 
to "o ye> if ! ,presid5t makes !        
c]tification describ$ 9 section #dja ( !
 ,nor? ,korea ,sanctions & ,policy      
,enhancem5t ,act ( #bjaf 7#bb ,u4,s4,c4 
#ibea7 to ! appropriate congressional   
committees4  7#b7 ,r5ewal ,a susp5sion  
"u p>agraph 7#a7 may be r5ew$ 9         
accordance ) section #dja7;b7 ( ! ,nor? 
,korea ,sanctions & ,policy ,enhancem5t 
,act ( #bjaf 7#bb ,u4,s4,c4 #ibea7;b774 
7d7 ,t]m9ation ,subject to section #aba1
 any requirem5t to impose sanctions "u  
?is title or ! am5dm5ts made by ?is     
title1 & any sanctions impos$ pursuant  
to ?is title or any su* am5dm5t1 %all   
t]m9ate on ! date on :i* ! ,presid5t    
makes ! c]tification describ$ 9 section 
#djb ( ! ,nor? ,korea ,sanctions &      
,policy ,enhancem5t ,act ( #bjaf 7#bb   
,u4,s4,c4 #ibeb74  #acd4 ,proc$ures =   
review ( classifi$ in=mation  7a7 ,9    
g5]al ,if a f9d+ "u ?is title or an     
am5dm5t made by ?is title1 a            

prohibition1 condition1 or p5alty impos$
 z a result ( any su* f9d+1 or a p5alty 
impos$ "u ?is title or an am5dm5t made  
by ?is title1 is bas$ on classifi$      
in=mation 7z def9$ 9 section #a7;a7 ( ! 
,classifi$ ,in=mation ,proc$ures ,act   
7#ah ,u4,s4,c4 ,app477 & a c\rt reviews 
! f9d+ or ! imposition ( ! prohibition1 
condition1 or p5alty1 ! ,secret>y ( !   
,treasury may submit su* in=mation to ! 
c\rt ex p>te & 9 cam]a4  7b7 ,rule (    
con/ruction ,no?+ 9 ?is section %all be 
con/ru$ to conf] or imply any "r to     
judicial review ( any f9d+ "u ?is title 
or an am5dm5t made by ?is title1 any    
prohibition1 condition1 or p5alty impos$
 z a result ( any su* f9d+1 or any      
p5alty impos$ "u ?is title or an am5dm5t
 made by ?is title4  #ace4 ,brief+ on   
prolif]ation f9anc+  7a7 ,9 g5]al ,n    
lat] ?an #fj days aft] ! date ( !       
enactm5t ( ?is ,act1 ! ,secret>y ( !    
,treasury %all provide to ! appropriate 
congressional committees a brief+ on    
address+ prolif]ation f9ance4  7b7      

,elem5ts ,! brief+ requir$ by subsection
 7a7 %all include ! foll[+3 7#a7 ,!     
,dep>tm5t ( ! ,treasury's def9ition &   
description ( an appropriate risk-bas$  
approa* to combat+ f9anc+ ( !           
prolif]ation ( weapons ( mass           
de/ruction4  7#b7 ,an assessm5t (-- 7,a7
 ,f$]al f9ancial regulatory ag5cy       
ov]sight1 includ+ by ! ,f9ancial ,crimes
 ,en=cem5t ,network1 ( ,unit$ ,/ates    
f9ancial in/itutions & ! adoption by _! 
=eign subsidi>ies1 bran*es1 &           
correspond5t in/itutions ( a risk-bas$  
approa* to prolif]ation f9anc+2 &  7,b7 
:e!r f9ancial in/itutions 9 =eign       
jurisdictions kn[n by ! ,unit$ ,/ates   
intellig5ce & law en=cem5t communities  
to be jurisdictions ?r\gh :i* ,nor?     
,korea moves sub/antial sums ( licit &  
illicit f9ance are apply+ a risk-bas$   
approa* to prolif]ation f9anc+1 & if t  
approa* is comp>able to ! approa*       
requir$ by ,unit$ ,/ates f9ancial       
in/itution sup]visors4  7#c7 ,a survey (
 ! te*nical assi/ance ! ,(fice (        

,te*nical ,assi/ance ( ! ,dep>tm5t ( !  
,treasury1 & o!r appropriate ,executive 
bran* (fices1 curr5tly provide =eign    
in/itutions on implem5t+                
c\nt]-prolif]ation f9anc+ be/ practices4
  7#d7 ,an assessm5t ( ! ability ( =eign
 subsidi>ies1 bran*es1 & correspond5t   
in/itutions ( ,unit$ ,/ates f9ancial    
in/itutions to implem5t a risk-bas$     
approa* to prolif]ation f9anc+4  ,,ii   
,dive/m5t f ,nor? ,korea  #bja4         
,au?ority ( ,/ate & local gov]nm5ts to  
dive/ f companies t inve/ 9 ,nor? ,korea
  7a7 ,s5se ( ,congress ,x is ! s5se (  
,congress t ! ,unit$ ,/ates %\ld support
 ! decision ( any ,/ate or local        
gov]nm5t made = moral1 prud5tial1 or    
reputational reasons1 to dive/ f1 or    
prohibit ! inve/m5t ( assets ( ! ,/ate  
or local gov]nm5t 91 a p]son t engages 9
 inve/m5t activities describ$ 9         
subsection 7c7 if ,nor? ,korea is       
subject to economic sanctions impos$ by 
! ,unit$ ,/ates or ! ,unit$ ,nations    
,security ,c\ncil4  7b7 ,au?ority ,to   

,dive/ ,not)/&+ any o!r provision ( law1
 a ,/ate or local gov]nm5t may adopt &  
en=ce measures t meet ! requirem5ts (   
subsection 7d7 to dive/ ! assets ( !    
,/ate or local gov]nm5t f1 or prohibit  
inve/m5t ( ! assets ( ! ,/ate or local  
gov]nm5t 91 any p]son t ! ,/ate or local
 gov]nm5t det]m9es1 us+ cr$ible         
in=mation available to ! public1 engages
 9 inve/m5t activities describ$ 9       
subsection 7c74  7c7 ,inve/m5t          
activities describ$ ,inve/m5t activities
 describ$ 9 ?is subsection are          
activities ( a value ( m ?an #aj1jjj    
relat+ to an inve/m5t 9 ,nor? ,korea or 
9 goods or s]vices orig9at+ 9 ,nor?     
,korea t are n conduct$ pursuant to a   
lic5se issu$ by ! ,dep>tm5t ( !         
,treasury4  7d7 ,requirem5ts ,any       
measure tak5 by a ,/ate or local        
gov]nm5t "u subsection 7b7 %all meet !  
foll[+ requirem5ts3 7#a7 ,notice ,!     
,/ate or local gov]nm5t %all provide    
writt5 notice to ea* p]son ) respect to 
:i* a measure "u ?is section is to be   

appli$4  7#b7 ,tim+ ,! measure appli$ "u
 ?is section %all apply to a p]son n    
e>li] ?an ! date t is #ij days aft] !   
date on :i* writt5 notice "u p>agraph   
7#a7 is provid$ to ! p]son4  7#c7       
,opportunity to demon/rate compliance   
7,a7 ,9 g5]al ,! ,/ate or local gov]nm5t
 %all provide to ea* p]son ) respect to 
:i* a measure is to be appli$ "u ?is    
section an opportunity to demon/rate to 
! ,/ate or local gov]nm5t t ! p]son does
 n engage 9 inve/m5t activities describ$
 9 subsection 7c74  7,b7 ,nonapplication
 ,if a p]son ) respect to :i* a measure 
is to be appli$ "u ?is section          
demon/rates to ! ,/ate or local gov]nm5t
 "u subp>agraph 7,a7 t ! p]son does n   
engage 9 inve/m5t activities describ$ 9 
subsection 7c71 ! measure %all n apply  
to t p]son4  7#d7 ,s5se ( ,congress on  
avoid+ errone\s t>get+ ,x is ! s5se (   
,congress t a ,/ate or local gov]nm5t   
%\ld n adopt a measure "u subsection 7b7
 ) respect to a p]son unless ! ,/ate or 
local gov]nm5t has--  7,a7 made e ef=t  

to avoid errone\sly t>get+ ! p]son2 &   
7,b7 v]ifi$ t ! p]son engages 9 inve/m5t
 activities describ$ 9 subsection 7c74  
7e7 ,notice to ,dep>tm5t ( ,ju/ice ,n   
lat] ?an #cj days be=e a ,/ate or local 
gov]nm5t applies a measure "u ?is       
section1 ! ,/ate or local gov]nm5t %all 
notify ! ,attorney ,g5]al ( t measure4  
7f7 ,au?orization = prior appli$        
measures  7#a7 ,9 g5]al ,not)/&+ any o!r
 provision ( ?is section or any o!r     
provision ( law1 a ,/ate or local       
gov]nm5t may en=ce a measure 7)\t reg>d 
to ! requirem5ts ( subsection 7d71      
except z provid$ 9 p>agraph 7#b77 appli$
 by ! ,/ate or local gov]nm5t be=e !    
date ( ! enactm5t ( ?is ,act t provides 
= ! dive/m5t ( assets ( ! ,/ate or local
 gov]nm5t f1 or prohibits ! inve/m5t ( !
 assets ( ! ,/ate or local gov]nm5t 91  
any p]son t ! ,/ate or local gov]nm5t   
det]m9es1 us+ cr$ible in=mation         
available to ! public1 engages 9        
inve/m5t activities describ$ 9          
subsection 7c7 t are id5tifi$ 9 t       

measure4  7#b7 ,application ( notice    
requirem5ts ,a measure describ$ 9       
p>agraph 7#a7 %all be subject to !      
requirem5ts ( p>agraphs 7#a71 7#b71 &   
7#c77;,a7 ( subsection 7d7 on & aft] !  
date t is #b ye>s aft] ! date ( !       
enactm5t ( ?is ,act4  7g7 ,no preemption
 ,a measure appli$ by a ,/ate or local  
gov]nm5t t is consi/5t ) subsection 7b7 
or 7f7 is n preempt$ by any ,f$]al law4 
7h7 ,def9itions ,9 ?is section3 7#a7    
,asset  7,a7 ,9 g5]al ,except z provid$ 
9 subp>agraph 7,b71 ! t]m asset means   
public monies1 & includes any p5sion1   
retirem5t1 annuity1 end[m5t fund1 or    
simil> in/rum5t1 t is controll$ by a    
,/ate or local gov]nm5t4  7,b7          
,exception ,! t]m asset does n include  
employee b5efit plans cov]$ by title ,i 
( ! ,employee ,retirem5t ,income        
,security ,act ( #aigd 7#bi ,u4,s4,c4   
#ajja et seq474  7#b7 ,inve/m5t ,! t]m  
inve/m5t includes--  7,a7 a commitm5t or
 contribution ( funds or prop]ty2  7,b7 
a loan or o!r ext5sion ( cr$it2 &  7,c7 

! entry into or r5ewal ( a contract =   
goods or s]vices4  7i7 ,effective date  
7#a7 ,9 g5]al ,except z provid$ 9       
p>agraph 7#b7 & subsection 7f71 ?is     
section applies to measures appli$ by a 
,/ate or local gov]nm5t be=e1 on1 or    
aft] ! date ( ! enactm5t ( ?is ,act4    
7#b7 ,notice requirem5ts ,except z      
provid$ 9 subsection 7f71 subsections   
7d7 & 7e7 apply to measures appli$ by a 
,/ate or local gov]nm5t on or aft] !    
date ( ! enactm5t ( ?is ,act4  #bjb4    
,safe h>bor = *anges ( inve/m5t policies
 by asset manag]s ,section #ac7;c77#a7 (
 ! ,inve/m5t ,company ,act ( #aidj 7#ae 
,u4,s4,c4 #hj;a-#ac7;c77#a77 is am5d$-- 
7#a7 9 subp>agraph 7,a71 by /rik+ or at 
! end2  7#b7 9 subp>agraph 7,b71 by     
/rik+ ! p]iod & ins]t+ 2 or2 &  7#c7 by 
add+ at ! end ! foll[+3  7,c7 engage 9  
inve/m5t activities describ$ 9 section  
#bja7;c7 ( ! ,otto ,w>mbi] ,bank+       
,re/rictions ,involv+ ,nor? ,korea ,act 
( #bjai4  4  #bjc4 ,s5se ( ,congress    
reg>d+ c]ta9 ,,erisa plan inve/m5ts ,x  

is ! s5se ( ,congress t-- 7#a7 a        
fiduci>y ( an employee b5efit plan1 z   
def9$ 9 section #c7c7 ( ! ,employee     
,retirem5t ,income ,security ,act (     
#aigd 7#bi ,u4,s4,c4 #ajjb7c771 may     
dive/ plan assets f1 or avoid inve/+    
plan assets 91 any p]son ! fiduci>y     
det]m9es engages 9 inve/m5t activities  
describ$ 9 section #bja7;c71 if--  7,a7 
! fiduci>y makes t det]m9ation us+      
cr$ible in=mation t is available to !   
public2 &  7,b7 ! fiduci>y prud5tly     
det]m9es t ! result ( t dive/m5t or     
avoidance ( inve/m5t w\ld n be expect$  
to provide ! employee b5efit plan )--   
7i7 a l[] rate ( return ?an alt]native  
inve/m5ts ) comm5surate degrees ( risk2 
or  7ii7 a high] degree ( risk ?an      
alt]native inve/m5ts ) comm5surate rates
 ( return2 &  7#b7 by dive/+ assets or  
avoid+ ! inve/m5t ( assets z describ$ 9 
p>agraph 7#a71 ! fiduci>y is n brea*+ ! 
responsibilities1 obligations1 or duties
 impos$ ^u ! fiduci>y by subp>agraph    
7,a7 or 7,b7 ( section #djd7;a77#a7 ( ! 

,employee ,retirem5t ,income ,security  
,act ( #aigd 7#bi ,u4,s4,c4             
#aajd7;a77#a774  #bjd4 ,rule (          
con/ruction ,no?+ 9 ?is title1 an       
am5dm5t made by ?is title1 or any o!r   
provision ( law au?oriz+ sanctions )    
respect to ,nor? ,korea %all be con/ru$ 
to affect or displace--  7#a7 ! au?ority
 ( a ,/ate or local gov]nm5t to issue & 
en=ce rules gov]n+ ! safety1 s\ndness1 &
 solv5cy ( a f9ancial in/itution subject
 to its jurisdiction2 or  7#b7 !        
regulation & taxation by ! sev]al ,/ates
 ( ! bus9ess ( insurance1 pursuant to ! 
,act ( ,m>* #i1 #aide 7#ei ,/at4 #cc1   
*apt] #bj2 #ae ,u4,s4,c4 #ajaa et seq47 
7commonly kn[n z ! ,mc,carran-,f]guson  
,act74  ,,iii ,f9ancial indu/ry guidance
 to halt traffick+  #cja4 ,%ort title   
,?is title may be cit$ z ! ,f9ancial    
,indu/ry ,guidance to ,halt ,traffick+  
,act or ! ,,fight ,act4  #cjb4 ,f9d+s   
,congress f9ds ! foll[+3  7#a7 ,! t]ms  
human traffick+ & traffick+ 9 p]sons are
 us$ int]*angeably to describe crimes   

involv+ ! exploitation ( a p]son = !    
purposes ( compell$ labor or comm]cial  
sex ?r\gh ! use ( =ce1 fraud1 or        
co]cion4  7#b7 ,accord+ to !            
,int]national ,lab\r ,organization1 !re 
are an e/imat$ #bd1ijj1jjj p worldwide  
:o are victims ( =c$ labor1 includ+     
human traffick+ victims 9 ! ,unit$      
,/ates4  7#c7 ,human traffick+ is       
p]petrat$ = f9ancial ga94  7#d7 ,accord+
 to ! ,int]national ,lab\r              
,organization1 ( ! e/imat$              
#aej1jjj1jjj1jjj or m 9 global pr(its   
g5]at$ annually f human traffick+--     
7,a7 approximately #b_/c are g5]at$ by  
comm]cial sexual exploitation1 exact$ by
 fraud or by =ce2 &  7,b7 approximately 
#a_/c are g5]at$ by =c$ labor4  7#e7    
,mo/ pur*ases ( comm]cial sex acts are  
paid = ) ca%1 mak+ traffick+ proce$s    
difficult to id5tify 9 ! f9ancial sy/em4
 ,none!less1 traffick]s rely heavily on 
access to f9ancial in/itutions z        
de/9ations = traffick+ proce$s & z      
conduits to f9ance e /ep ( ! traffick+  

process4  7#f7 ,"u section #aief ( title
 #ah1 ,unit$ ,/ates ,code 7relat+ to    
money laund]+71 human traffick+ is a    
specifi$ unlawful activity &            
transactions conduct$ ) proce$s e>n$ f  
traffick+ p1 or us$ to fur!r traffick+  
op]ations1 c be prosecut$ z money       
laund]+ (f5ses4  #cjc4 ,s5se ( ,congress
 ,x is ! s5se ( ,congress t-- 7#a7 !    
,presid5t %\ld aggressively apply1 z    
appropriate1 exi/+ sanctions = human    
traffick+ au?oriz$ "u section #aaa ( !  
,traffick+ ,victims ,protection ,act (  
#bjjj 7#bb ,u4,s4,c4 #gajh72  7#b7 !    
,f9ancial ,crimes ,en=cem5t ,network ( !
 ,dep>tm5t ( ! ,treasury %\ld cont9ue-- 
7,a7 to monitor report+ requir$ "u      
sub*apt] ,,ii ( *apt] #ec ( title #ca1  
,unit$ ,/ates ,code 7commonly kn[n z !  
,bank ,secrecy ,act7 & to update        
advisories1 z w>rant$2  7,b7 to         
p]iodically review its advisories to    
provide cov]$ f9ancial in/itutions1 z   
appropriate1 ) a li/ ( new r$ flags =   
id5tify+ activities ( conc]n1 p>ticul>ly

 human traffick+2  7,c7 to enc\rage     
entities cov]$ by ! advisories describ$ 
9 subp>agraph 7,b7 to incorporate       
relevant elem5ts provid$ 9 ! advisories 
into _! curr5t transaction & acc\nt     
monitor+ sy/ems or 9 policies1          
proc$ures1 & tra9+ on human traffick+ to
 enable f9ancial in/itutions to ma9ta9  
ongo+ ef=ts to exam9e transactions &    
acc\nts2  7,d7 to use geographic t>get+ 
ord]s1 z appropriate1 to impose         
additional report+ & recordkeep+        
requirem5ts "u section #ecbf7;a7 ( title
 #ca1 ,unit$ ,/ates ,code1 to c>ry out !
 purposes (1 & prev5t evasions ( ! ,bank
 ,secrecy ,act2 &  7,e7 to utilize !    
,bank ,secrecy ,act ,advisory ,gr\p &   
o!r relevant entities to id5tify        
opportunities = nongov]nm5tal           
organizations to %>e relevant actionable
 in=mation on human traffick]s' use ( ! 
f9ancial sector = nef>i\s purposes2     
7#c7 ,f$]al bank+ regulators1 !         
,dep>tm5t ( ! ,treasury1 relevant law   
en=cem5t ag5cies1 & ! ,human ,smuggl+ & 

,traffick+ ,c5t]1 9 p>tn]%ip )          
repres5tatives f ! ,unit$ ,/ates        
f9ancial community1 %\ld adopt regul>   
=ms ( %>+ in=mation to disrupt human    
traffick+1 includ+ develop+ protocols & 
proc$ures to %>e actionable in=mation   
betwe5 & among/ cov]$ in/itutions1 law  
en=cem5t1 & ! ,unit$ ,/ates intellig5ce 
community2  7#d7 tra9+ front l9e bank & 
money s]vice bus9ess employees1 s*ool   
tea*]s1 law en=cem5t (fic]s1 =eign      
s]vice (fic]s1 c\nselors1 & ! g5]al     
public is an important factor 9 id5tify+
 traffick+ victims2  7#e7 ! ,dep>tm5t ( 
,homel& ,security's ,blue ,campaign1    
tra9+ by ! ,,be/ ,employ]s ,alliance1 & 
simil> ef=ts by indu/ry1 human rights1 &
 nongov]nm5tal organizations focus$ on  
human traffick+ provide good examples ( 
curr5t ef=ts to educate employees (     
critical sectors to save victims &      
disrupt traffick+ networks2  7#f7 !     
,presid5t %\ld int5sify diplomatic      
ef=ts1 bilat]ally & 9 appropriate       
int]national =a1 su* z ! ,unit$         

,nations1 to develop & implem5t a       
coord9at$1 consi/5t1 multilat]al /rategy
 = address+ ! int]national f9ancial     
networks support+ human traffick+2 &    
7#g7 9 delib]ations betwe5 ! ,unit$     
,/ates ,gov]nm5t & any =eign c\ntry1    
includ+ ?r\gh p>ticipation 9 ! ,egmont  
,gr\p ( ,f9ancial ,intellig5ce ,units1  
reg>d+ money laund]+1 corruption1 &     
transnational crimes1 ! ,unit$ ,/ates   
,gov]nm5t %\ld-- 7,a7 enc\rage          
coop]ation by =eign gov]nm5ts & relevant
 int]national =a 9 id5tify+ ! ext5t to  
:i* ! proce$s f human traffick+ are be+ 
us$ to facilitate t]rori/ f9anc+1       
corruption1 or o!r illicit f9ancial     
crimes2  7,b7 enc\rage coop]ation by    
=eign gov]nm5ts & relevant int]national 
=a 9 id5tify+ ! nexus betwe5 human      
traffick+ & money laund]+2  7,c7 advance
 policies t promote ! coop]ation ( =eign
 gov]nm5ts1 ?r\gh in=mation %>+1 tra9+1 
or o!r measures1 9 ! en=cem5t ( ?is     
title2  7,d7 enc\rage ! ,f9ancial       
,action ,task ,=ce to update its ,july  

#bjaa typology reports entitl$1 ,laund]+
 ! ,proce$s ( ,corruption & ,money      
,laund]+ ,risks ,aris+ f ,traffick+ 9   
,human ,be+s & ,smuggl+ ( ,migrants1 to 
id5tify ! money laund]+ risk aris+ f !  
traffick+ ( human be+s2 &  7,e7 enc\rage
 ! ,egmont ,gr\p ( ,f9ancial            
,intellig5ce ,units to /udy ! ext5t to  
:i* human traffick+ op]ations are be+   
us$ = money laund]+1 t]rori/ f9anc+1 or 
o!r illicit f9ancial purposes4  #cjd4   
,coord9ation ( human traffick+ issues by
 ! ,(fice ( ,t]rorism & ,f9ancial       
,intellig5ce  7a7 ,functions ,section   
#cab7;a77#d7 ( title #ca1 ,unit$ ,/ates 
,code1 is am5d$-- 7#a7 by r$esignat+    
subp>agraphs 7,e71 7,f71 & 7,g7 z       
subp>agraphs 7,f71 7,g71 & 7,h71        
respectively2 &  7#b7 by ins]t+ aft]    
subp>agraph 7,d7 ! foll[+3  7,e7 combat+
 illicit f9anc+ relat+ to human         
traffick+2  4  7b7 ,int]ag5cy           
coord9ation ,section #cab7;a7 ( su*     
title is am5d$ by add+ at ! end !       
foll[+3  7#h7 ,int]ag5cy coord9ation ,! 

,secret>y ( ! ,treasury1 aft]           
consultation ) ! ,und]secret>y =        
,t]rorism & ,f9ancial ,crimes1 %all     
designate an (fice )9 ! ,,otfi t %all   
coord9ate ef=ts to combat ! illicit     
f9anc+ ( human traffick+ )--  7,a7 o!r  
(fices ( ! ,dep>tm5t ( ! ,treasury2     
7,b7 o!r ,f$]al ag5cies1 includ+--  7i7 
! ,(fice to ,monitor & ,combat          
,traffick+ 9 ,p]sons ( ! ,dep>tm5t (    
,/ate2 &  7ii7 ! ,int]ag5cy ,task ,=ce  
to ,monitor & ,combat ,traffick+2  7,c7 
,/ate & local law en=cem5t ag5cies2 &   
7,d7 =eign gov]nm5ts4  4  #cje4 ,/r5g!n+
 ! role ( anti-money laund]+ & o!r      
f9ancial tools 9 combat+ human traffick+
  7a7 ,int]ag5cy task =ce recomm5dations
 t>get+ money laund]+ relat$ to human   
traffick+  7#a7 ,9 g5]al ,n lat] ?an    
#bgj days aft] ! date ( ! enactm5t ( ?is
 ,act1 ! ,int]ag5cy ,task ,=ce to       
,monitor & ,combat ,traffick+ %all      
submit to ! ,committee on ,bank+1 ,h\s+1
 & ,urban ,affairs1 ! ,committee on     
,=eign ,relations1 & ! ,committee on !  

,judici>y ( ! ,s5ate1 ! ,committee on   
,f9ancial ,s]vices1 ! ,committee on     
,=eign ,affairs1 & ! ,committee on !    
,judici>y ( ! ,h\se ( ,repres5tatives1 !
 ,secret>y ( ! ,treasury1 & ea*         
appropriate ,f$]al bank+ ag5cy-- 7,a7 an
 analysis ( anti-money laund]+ ef=ts ( !
 ,unit$ ,/ates ,gov]nm5t1 ,unit$ ,/ates 
f9ancial in/itutions1 & multilat]al     
developm5t banks relat$ to human        
traffick+2 &  7,b7 appropriate          
legislative1 adm9i/rative1 & o!r        
recomm5dations to /r5g!n ef=ts aga9/    
money laund]+ relat+ to human traffick+4
  7#b7 ,requir$ recomm5dations ,!       
recomm5dations "u p>agraph 7#a7 %all    
include--  7,a7 be/ practices bas$ on   
successful anti-human traffick+ programs
 curr5tly 9 place at dome/ic &          
int]national f9ancial in/itutions t are 
suitable = broad] adoption2  7,b7       
fe$back f /akehold]s1 includ+ victims ( 
sev]e traffick+ 9 p]sons1 advocates (   
p]sons at risk ( becom+ victims ( sev]e 
=ms ( traffick+ 9 p]sons1 ! ,unit$      

,/ates ,advisory ,c\ncil on ,human      
,traffick+1 civil society organizations1
 & f9ancial in/itutions on policy       
proposals d]iv$ f ! analysis conduct$ by
 ! task =ce ref]r$ to 9 p>agraph 7#a7 t 
w\ld enhance ! ef=ts & programs (       
f9ancial in/itutions to detect & det]   
money laund]+ relat$ to human traffick+1
 includ+ any recomm5d$ *anges to int]nal
 policies1 proc$ures1 & controls relat$ 
to human traffick+2  7,c7 any recomm5d$ 
*anges to tra9+ programs at f9ancial    
in/itutions to bett] equip employees to 
det] & detect money laund]+ relat$ to   
human traffick+2 &  7,d7 any recomm5d$  
*anges to exp& human traffick+-relat$   
in=mation %>+ among f9ancial in/itutions
 & betwe5 su* f9ancial in/itutions1     
appropriate law en=cem5t ag5cies1 &     
appropriate ,f$]al ag5cies4  7b7        
,additional report+ requirem5t ,section 
#aje7;d77#g7 ( ! ,traffick+ ,victims    
,protection ,act ( #bjjj 7#bb ,u4,s4,c4 
#gajc7;d77#g77 is am5d$-- 7#a7 9 ! matt]
 prec$+ subp>agraph 7,a7--  7,a7 by     

ins]t+ ! ,committee on ,f9ancial        
,s]vices1 aft] ! ,committee on ,=eign   
,affairs2 &  7,b7 by ins]t+ ! ,committee
 on ,bank+1 ,h\s+1 & ,urban ,affairs1   
aft] ! ,committee on ,=eign ,relations12
  7#b7 9 subp>agraph 7,q77vii71 by /rik+
 2 & & ins]t+ a semicolon2  7#c7 9      
subp>agraph 7,r71 by /rik+ ! p]iod at ! 
end & ins]t+ 2 &2 &  7#d7 by add+ at !  
end ! foll[+3  7,s7 ! ef=ts ( ! ,unit$  
,/ates to elim9ate money laund]+ relat$ 
to human traffick+ & ! numb] (          
inve/igations1 arre/s1 indictm5ts1 &    
convictions 9 money laund]+ cases ) a   
nexus to human traffick+4  4  7c7       
,requir$ review ( proc$ures ,n lat] ?an 
#ahj days aft] ! date ( ! enactm5t ( ?is
 ,act1 ! ,f$]al ,f9ancial ,in/itutions  
,exam9ation ,c\ncil1 9 consultation ) ! 
,secret>y ( ! ,treasury1 victims ( sev]e
 =ms ( traffick+ 9 p]sons1 advocates (  
p]sons at risk ( becom+ victims ( sev]e 
=ms ( traffick+ 9 p]sons1 ! ,unit$      
,/ates ,advisory ,c\ncil on ,traffick+1 
civil society organizations1 ! private  

sector1 & appropriate law en=cem5t      
ag5cies1 %all-- 7#a7 review & enhance   
tra9+ & exam9ations proc$ures to improve
 ! surveillance capabilities (          
anti-money laund]+ & c\nt]+ ! f9anc+ (  
t]rorism programs to detect human       
traffick+-relat$ f9ancial transactions2 
7#b7 review & enhance proc$ures = ref]r+
 pot5tial human traffick+ cases to !    
appropriate law en=cem5t ag5cy2 &  7#c7 
det]m9e1 z appropriate1 :e!r requirem5ts
 = f9ancial in/itutions & cov]$ f9ancial
 in/itutions are suffici5t to detect &  
det] money laund]+ relat$ to human      
traffick+4  7d7 ,limitations ,no?+ 9 ?is
 section %all be con/ru$ to-- 7#a7 grant
 rulemak+ au?ority to ! ,int]ag5cy ,task
 ,=ce to ,monitor & ,combat ,traffick+2 
or  7#b7 au?orize f9ancial in/itutions  
to d5y s]vices to or violate ! privacy (
 victims ( traffick+1 victims ( sev]e   
=ms ( traffick+1 or individuals n       
responsible = promot+ sev]e =ms (       
traffick+ 9 p]sons4  #cjf4 ,s5se (      
,congress on res\rces to combat human   

traffick+ ,x is ! s5se ( ,congress t--  
7#a7 adequate fund+ %\ld be provid$ =   
critical ,f$]al ef=ts to combat human   
traffick+2  7#b7 ! ,dep>tm5t ( !        
,treasury %\ld h ! appropriate res\rces 
to vigor\sly inve/igate human traffick+ 
networks "u section #aaa ( ! ,traffick+ 
,victims ,protection ,act ( #bjjj 7#bb  
,u4,s4,c4 #gajh7 & o!r relevant /atutes 
& ,executive ord]s2  7#c7 ! ,dep>tm5t ( 
! ,treasury & ! ,dep>tm5t ( ,ju/ice %\ld
 ea* h ! capacity & appropriate res\rces
 to support te*nical assi/ance to       
develop =eign p>tn]s' ability to combat 
human traffick+ ?r\gh /rong national    
anti-money laund]+ & c\nt]+ ! f9anc+ (  
t]rorism programs2  7#d7 ea* ,unit$     
,/ates ,attorney's ,(fice %\ld be       
provid$ appropriate fund+ to increase ! 
numb] ( p]sonnel = community education &
 outrea* & inve/igative support & =5sic 
analysis relat$ to human traffick+2 &   
7#e7 ! ,dep>tm5t ( ,/ate %\ld be provid$
 additional res\rces1 z necess>y1 to    
c>ry out ! ,survivors ( ,human          

,traffick+ ,emp[]m5t ,act 7section #aae 
( ,public ,law #aad-bb2 #abi ,/at4      
#bdc74