6 money laundering reforms that experts say need to happen right now
from International Consortium of Investigative Journalists
The biggest banks in the world are moving vast amounts of money for drug cartels, corrupt regimes, arms traffickers and other international criminals after having pledged repeatedly to do more to staunch the flow of dirty money. The system-wide failures exposed by the FinCEN Files, a 16-month investigation by more than 400 journalists, have led to calls for reform from prominent politicians and government bodies. The reporting even prompted the Financial Crimes Enforcement Network, the U.S. agency known as FinCEN tasked with overseeing bank compliance with money laundering laws, to ask for ideas about how to “enhance the effectiveness” of its operations.
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