H.R. 6988 — Trade Transparency Unit Strategy Act

This section expresses the sense of Congress that Trade Transparency Units (TTUs)—bilateral and multilateral partnerships that analyze trade data to detect trade-based money laundering—are a critical tool to disrupt international money laundering networks. It directs the Secretary of Homeland Security, in coordination with the Secretaries of State, Commerce, and the Treasury, to submit to the appropriate congressional committees within 180 days of enactment an unclassified strategy (which may include a classified annex) to (1) expand information sharing between U.S. Customs and Border Protection, Homeland Security Investigations, appropriate Department of Commerce elements, the Financial Crimes Enforcement Network, and foreign customs counterparts through TTUs; and (2) improve intra-agency, inter-agency, and multilateral TTU information sharing. It further requires the Comptroller General to submit to the committees, within 180 days after the strategy's submission, a report assessing the strategy.