Bill Overview
Title: The INCSR Improvement Act
Description: This bill adds a requirement to the President's annual international narcotics control strategy report, which currently includes information on adoption of law and regulations to prevent narcotics-related money laundering in countries determined to be major money laundering countries. The additional requirement is to provide examples of improvement in each country in preventing narcotics-related money laundering, where such information is available.
Sponsors: Rep. Waters, Maxine [D-CA-43]
Target Audience
Population: People in countries identified by the INCSR as major narcotics-related money laundering regions
Estimated Size: 1000000
- The International Narcotics Control Strategy Report (INCSR) assesses countries on money laundering related to narcotics. This report influences international and domestic policies.
- Countries identified as major money laundering entities due to narcotics would be affected due to changes in reporting requirements.
- The bill requires examples of improvements in money laundering prevention, potentially affecting international relationships and practices.
- The focus is on countries where narcotics-related money laundering is a significant issue, which includes countries across different continents and economic statuses.
- Financial institutions globally might be influenced by changes in international money laundering assessments.
Reasoning
- The INCSR Improvement Act primarily targets international financial and narcotics control policies, affecting countries identified as major money laundering hubs due to narcotics. The impact on U.S. residents is primarily indirect, as the policy aims to improve international collaboration and reporting on narcotics-related money laundering.
- Given the relatively indirect impact of the policy on the average U.S. citizen, the influence on self-reported wellbeing is likely modest. Most direct effects will be observed in agencies and individuals working in international finance, law, and policy spaces.
- The budget constraints suggest a focus on small, significant impacts rather than broad-reaching changes that would require significant financial and logistical support.
- Interviews include a mix of individuals who might experience direct changes in their professional work and others who might see indirect benefits through improved international security and reduced global narcotics issues.
- The commonness scores reflect how frequently a person similar to those interviewed can be found in the general U.S. population, ensuring a diverse range of perspectives from common citizens to niche professionals.
Simulated Interviews
Financial Analyst (New York, NY)
Age: 34 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 12/20
Statement of Opinion:
- I think it's good that we're paying closer attention to how countries handle money laundering. My work involves a lot of compliance and regulation, so having clearer guidelines and examples can only help.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Policy Advisor (Washington, DC)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- It's crucial we have these improvements detailed. They provide leverage in international negotiations and help us understand where more work is needed.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Software Engineer (San Francisco, CA)
Age: 29 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 10/20
Statement of Opinion:
- I'm interested in how changes in international policy might affect financial technology. It seems like detailed reporting can lead to better security measures globally.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Retired (Austin, TX)
Age: 62 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 15/20
Statement of Opinion:
- It's encouraging to see ongoing efforts against international narcotics-related issues. These policies are a step in the right direction for global safety.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Customs Officer (Miami, FL)
Age: 39 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 2.0 years
Commonness: 8/20
Statement of Opinion:
- Having more detailed international reports could streamline our workflow, knowing where illicit flow is decreasing gives us a clearer target. It's a positive move.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Community Organizer (Chicago, IL)
Age: 51 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 18/20
Statement of Opinion:
- While this international policy might not directly impact our local work, knowing that the global approach to narcotics is evolving could mean fewer drugs on the streets in the long run.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
International Law Professor (Seattle, WA)
Age: 44 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- This provides great material for teaching. It highlights the growing complexity and necessity of international cooperation.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Graduate Student (Los Angeles, CA)
Age: 28 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 9/20
Statement of Opinion:
- This move can enrich my studies. Understanding detailed examples of change can influence future research directions and policies.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Journalist (Denver, CO)
Age: 37 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 4.0 years
Commonness: 7/20
Statement of Opinion:
- Having more comprehensive records and examples is always beneficial for reporting with depth and accuracy on international issues.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Investment Consultant (Boston, MA)
Age: 56 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 7.0 years
Commonness: 6/20
Statement of Opinion:
- These reports could provide a clearer picture of global investment risks associated with certain regions, benefiting my advisory work.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Cost Estimates
Year 1: $2000000 (Low: $1500000, High: $3000000)
Year 2: $2100000 (Low: $1580000, High: $3150000)
Year 3: $2200000 (Low: $1650000, High: $3300000)
Year 5: $2400000 (Low: $1800000, High: $3600000)
Year 10: $2800000 (Low: $2100000, High: $4200000)
Year 100: $3500000 (Low: $2600000, High: $5250000)
Key Considerations
- Coordination with international partners will be crucial to gather reliable and comprehensive data on money laundering improvements.
- The policy relies heavily on the availability of data in foreign countries and the willingness of governments to share detailed examples of their progress.
- Technological and human resource investments may be necessary to meet the increased reporting standards required by the bill.