U.S. to Offer Strategy on Money Laundering
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The Treasury Department plans to roll out its heavily promoted anti-money laundering program today as part of the Clinton administration’s effort to combat international financial crime. In what it bills as a ”national money laundering strategy for 2000,” the Treasury Department will offer an array of legislative and regulatory initiatives aimed at money laundering, including the designation of metropolitan areas deemed as high-risk zones for such activities. Among the areas that the Treasury Department will cite as particularly attractive to money launderers are metropolitan New York, Los Angeles and San Juan, P.R., according to people with knowledge of the initiative. Other metropolitan areas are expected to be added to the list. Last week, Treasury Secretary Lawrence H. Summers said that the Clinton administration planned to ask Congress for broad new powers to combat money laundering, including the authority to ban financial transactions between United States banks or brokerage houses and offshore financial centers. More : query.nytimes.com |