Money Laundering

U.S. Efforts to Combat Money Laundering Overseas Gao ID: T-GGD-96-84 February 28, 1996

Money laundering is a global problem requiring collective international efforts to combat it. This testimony describes U.S. efforts to deter this activity, including (1) regulation by the United States and seven European nations of financial institutions regarding money laundering; (2) U.S. bank regulators' oversight of money-laundering controls at overseas branches of U.S. banks; (3) U.S. law enforcement agencies' efforts to coordinate their overseas anti-money-laundering activities with those of host countries' law enforcement agencies; and (4) U.S. participation in international anti-money-laundering arrangements.

The Justia Government Accountability Office site republishes public reports retrieved from the U.S. GAO These reports should not be considered official, and do not necessarily reflect the views of Justia.