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Some criminal groups use a process called trade-based money laundering to hide their illicit funds. These schemes can include things like falsely describing goods and services in trade transactions.
Schemes can involve many types of illicit activity that cut across multiple federal agencies' roles.
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.
Five years after the terrorist attacks of September 11, 2001, GAO is taking stock of key efforts by the President, Congress, federal agencies, and the 9/11 Commission to strengthen or enhance critical layers of defense in aviation and border security that were directly exploited by the 19 terrorist hijackers....
As the world's leading trading nation, the United States depends on a vast marine transportation system. Ninety-five percent of overseas trade tonnage moves by water, and the cargo moving through the U.S. marine transportation system contributes hundreds of billions of dollars to the U.S.
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.