Anti-money laundering, U.S. efforts to combat narcotics-related money laundering in the Western Hemisphere : report to the Ranking Member, Committee on Foreign Affairs, House of Representatives.

Format:

Book

Government document

Author/Creator:

United States. Government Accountability Office, author.

Contributor:

United States. Congress. House. Committee on Foreign Affairs, sponsoring body.

Language:

English

Subjects (All):

United States. Department of the Treasury.

United States.

Money laundering--United States--Prevention.

Money laundering.

Drug traffic--United States--Prevention.

Drug traffic.

Money laundering--Prevention.

Genre:

Online resources.

Physical Description:

1 online resource (iv, 60 pages) : color illustrations

Other Title:

U.S. efforts to combat narcotics-related money laundering in the Western Hemisphere

Anti-money laundering, United States efforts to combat narcotics-related money laundering in the Western Hemisphere

Place of Publication:

[Washington, D.C.] : United States Government Accountability Office, 2017.

Summary:

Proceeds from narcotics-related illicit activities are one of the most common sources of money laundering in the United States. Though difficult to accurately determine, in 2015, Treasury estimated that drug trafficking generated about $64 billion annually from U.S. sales. Moreover, the Western Hemisphere accounts for about a third of the jurisdictions designated by State as of primary concern for money laundering. GAO was asked to provide information on U.S. efforts to impede illicit proceeds from drug trafficking from entering the financial systems of the United States and other Western Hemisphere countries. This report describes (1) U.S. agency oversight and monitoring of compliance with the BSA, including collaboration with counterparts in other Western Hemisphere countries, and (2) State's and Treasury's efforts to build capacity in other Western Hemisphere countries to combat narcotics-related money laundering.

Contents:

Background.

U.S. financial regulators provide oversight and work with counterparts to identify and reduce financial sector risks.

State and Treasury support capacity building efforts and collaborate to combat money laundering in Western Hemisphere countries.

Agency comments.

Notes:

"GAO-17-684."

"August 2017."

Includes bibliographical references.

Online resource, PDF version; title from cover (GAO, viewed Sept. 18, 2017).

OCLC:

1004235793