,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #cebc  ,,in ,,the ,,house ,,of  
,,representatives  ,may #bj1 #bjbe,mr4  
,shreve 7for himself and ,ms4 ,van      
,duyne7 introduced the following bill2  
which was referred to the ,committee on 
,foreign ,affairs1 and in addition to   
the ,committees on ,financial ,services1
 and ,energy and ,commerce1 for a period
 to be subsequently determined by the   
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to require the ,secretary of
 the ,treasury to designate certain     
covered organizations as ,foreign       
,financial ,threat ,organizations1 and  
for other purposes4  #a4 ,designation of
 ,foreign ,financial ,threat            
,organizations  7a7 ,designation ,the   
,secretary of the ,treasury shall       
designate covered organizations to be   
known as ,foreign ,financial ,threat    
,organizations4 ,the ,secretary shall   
make the first such designations not    

later than #ij days after the date of   
the enactment of this ,act4  7b7        
,procedure  7#a7 ,notice ,before making 
a designation under this section1 the   
,secretary shall notify1 in writing1 the
 ,speaker and ,minority ,leader of the  
,house of ,representatives1 the         
,president pro tempore1 ,majority       
,leader1 and ,minority ,leader of the   
,senate1 and the members of the relevant
 committees of ,congress of the intent  
to designate an organization under this 
section as a ,foreign ,financial ,threat
 ,organization and the factual basis for
 such designation4  7#b7 ,publication in
 ,federal ,register ,the ,secretary     
shall publish a designation made under  
this section in the ,federal ,register  
seven days after providing the          
notification under paragraph 7#a74  7#c7
 ,freezing of assets ,upon notification 
under paragraph 7#a71 the ,secretary may
 require ,united ,states financial      
institutions possessing or controlling  
any assets of a ,foreign ,financial     

,threat ,organization to block all      
financial transactions involving those  
assets until further direction from the 
,secretary of the ,treasury1 an ,act of 
,congress1 or an order of a court4  7#d7
 ,effect of designation ,a ,foreign     
,financial ,threat ,organization shall  
be subject to the same penalties and    
procedures as an organization that has  
been designated as a specially          
designated global terrorist organization
 by the ,secretary of ,state or the     
,secretary of the ,treasury1 as the case
 may be1 pursuant to ,executive ,order  
#acbbd 7#ej ,u4,s4,c4 #agja note2       
relating to blocking property and       
prohibiting transactions with persons   
who commit1 threaten to commit1 or      
support terrorism74  7c7 ,enforcement   
,the ,federal ,government may take such 
actions as necessary against a ,foreign 
,financial ,threat ,organization to     
protect the cybersecurity of the ,united
 ,states and limit the ability of the   
,foreign ,financial ,threat             

,organization to access internet or     
cellular services4  7d7  ,prohibition on
 contact  ,the ,secretary of the        
,treasury shall take such actions as may
 be necessary to prevent a ,foreign     
,financial ,threat ,organization from   
contacting ,united ,states citizens or  
aliens who are lawful permanent         
residents of the ,united ,states by     
phone1 internet1 or email4  7e7 ,report 
7#a7 ,in general ,not later than #b     
years after the date of the enactment of
 this ,act1 and annually thereafter1 the
 ,secretary of the ,treasury shall      
submit to ,committees on ,foreign       
,affairs and ,financial ,services of the
 ,house of ,representatives and the     
,committees on ,foreign ,relations and  
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate a report on the          
implementation of this ,act4  7#b7      
,contents ,such report shall include--  
7,a7 an identification of covered       
organizations that have been designated 
as ,foreign ,financial ,threat          

,organizations2  7,b7 the amount of     
assets seized from such ,foreign        
,financial ,threat ,organizations2  7,c7
 the actions taken by the ,secretary to 
identify such ,foreign ,financial       
,threat ,organizations2 and  7,d7 the   
amount of funds the ,secretary was able 
to return to victims of fraud by such   
,foreign ,financial ,threat             
,organizations4  7#c7 ,form ,the        
,secretary shall make publicly available
 a version of the report required under 
this subsection that does not include   
any sensitive information4  7f7 ,covered
 organization defined ,in this ,act1 the
 term covered organization means a      
foreign entity 7as defined in section   
#hjj4bbj7;a7 of title #ca1 ,code of     
,federal ,regulations71 including any   
subsidiary or affiliate of a foreign    
entity1 that engages in fraudulent      
activity in an attempt to deceive       
,united ,states citizens or aliens who  
are lawful permanent residents of the   
,united ,states to provide cash or other

 assets to such foreign entity1 as      
jointly determined by the ,secretary of 
the ,treasury and the ,attorney         
,general4