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.
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.
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.
This is in response to a request for a copy of the GAO draft report on bank regulatory agencies, and copies of the agreements entered into between GAO and the Federal Reserve Board, Comptroller of the Currency, and F.D.I.C., respectively.