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National Money Laundering Strategy 2007

NCJ Number
Date Published
112 pages
In responding to the unprecedented U.S. Federal interagency Money Laundering Threat Assessment completed in December 2005, this 2007 National Money Laundering Strategy breaks new ground in focusing exclusively on deterring money laundering, independent of efforts to combat the financing of terrorism.
One of the nine goals of the strategy is to safeguard the banking system through the collaborative efforts of the Financial Crimes Enforcement Network (FinCEN), the Federal banking regulators, and the Federal law enforcement community. The second goal is to enhance financial transparency in money services businesses (MSBs) through the collaboration of relevant regulatory, supervisory, and law enforcement agencies in improving and expanding MSB’s outreach initiatives while aggressively identifying and prosecuting MSBs that facilitate money laundering. The third goal of the strategy to counter money laundering is to stem the flow of illicit bulk cash out of the United States and then reentering the country as seemingly legitimate funds. This involves both domestic and international capacity-building and cooperation. The fourth goal is to attack trade-based money laundering at home and abroad by identifying and dismantling trade-based money laundering schemes. The fifth goal is to promote transparency in the ownership of legal entities, in order to facilitate identification of suspicious transactions for law enforcement investigations and possible prosecutions. The sixth goal is to examine antimoney-laundering regulatory oversight and enforcement at casinos, which constitute a high-volume cash-intensive industry. Casinos are among a broad and varied group of nonbank financial institutions that offer money laundering opportunities outside the traditional financial services system. Remaining goals of the strategy are to implement and enforce antimoney-laundering regulations for the insurance industry, support global antimoney-laundering capacity-building and enforcement efforts, and to improve how progress is measured in countering money laundering. Appended U.S. Money Laundering Threat Assessment, antimoney-laundering statistics, law enforcement data and intelligence centers, and the strategic use of asset forfeiture