The Intelligence Bill approved overwhelmingly by the US Senate last week is now awaiting the President's signature.
The legislation contains several provisions designed to boost the government's fight against money laundering and terrorist financing, including the authorisation of $35.5 million in new funding for the anti-money laundering programs run by the Treasury's Financial Crimes Enforcement Network (FinCEN).
Other key measures include granting the Treasury Department the power to require designated financial institutions to report cross-border electronic fund transfers, and permitting the Securities and Exchange Commission to take action in an emergency situation to restore order in the US securities markets.
Speaking following the Senate vote on Wednesday, President Bush praised the passage of "historic legislation that will better protect the American people and help defend against ongoing terrorist threats".
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