GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
Some criminal groups use a process called trade-based money laundering to launder their illicit money. These schemes can include things like falsely describing goods and services in trade transactions.
Banks are required to report suspicious financial transactions to the Treasury Department.
To disguise illegally obtained funds, money launderers have traditionally targeted banks, which accept cash and arrange domestic and international fund transfers. However, criminals seeking to hide illicit funds may also be targeting the U.S. securities markets.
International crimes, such as drugs and arms trafficking, terrorism, money laundering, and public corruption, transcend national borders and threaten global security and stability. The National Security Council (NSC) told GAO that international crime and the framework for the U.S.
Pursuant to a congressional request, GAO reviewed the Department of the Treasury's fiscal year (FY) 1999 performance report and FY 2001 performance plan required by the Government Performance and Results Act of 1993.
Pursuant to a congressional request, GAO reviewed software change controls at the Department of the Treasury, focusing on: (1) whether key controls as described in agency policies and procedures regarding software change authorization, testing, and approval complied with federal guidance; and (2) the...
GAO provided information on U.S. efforts to combat international money laundering, focusing on: (1) U.S. money-laundering controls; (2) how U.S. law enforcement agencies coordinate their anti-money-laundering activities with European officials; and (3) U.S.