AlterEgo
02-05-2010, 11:13 AM
Foreign leaders and their families are still able to channel hundreds of millions of dollars in potentially corrupt money into the United States despite post-Sept. 11 laws cracking down on money laundering, according to a report released at a Senate hearing Thursday.
Sen. Carl Levin, head of a Senate Homeland Security panel, said that while financial institutions have become better at detecting possibly tainted money, glaring loopholes remain in anti-money laundering law established in the 2001 Patriot Act. He said this has allowed lawyers, real estate agents, lobbyists and others to act as conduits for foreigners seeking to move their wealth into the United States.
http://www.memphisdailynews.com/editorial/Article.aspx?id=47671
Sen. Carl Levin, head of a Senate Homeland Security panel, said that while financial institutions have become better at detecting possibly tainted money, glaring loopholes remain in anti-money laundering law established in the 2001 Patriot Act. He said this has allowed lawyers, real estate agents, lobbyists and others to act as conduits for foreigners seeking to move their wealth into the United States.
http://www.memphisdailynews.com/editorial/Article.aspx?id=47671