Bush Administration Issues Money Laundering Strategy Report

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Sunday, September 1, 2002
Bruce Zagaris
On July 24, 2002, the Bush Administration issued its second National Money Laundering Strategy Report (NMLSR 2002), which highlighted international initiatives. In his remarks explaining the report, Under Secretary Jimmy Gurul? underscored several successes of the Administration in anti-money laundering efforts. A goal of the NMLSR 2002 is to improve international efforts to dismantle terrorist financing networks, particularly international anti-money laundering regimes. Five objectives were outlined in the report: to advance initiatives of the Financial Action Task Force (FATF) and FATF-style regional organizations; to ensure that technical assistance is available to jurisdictions willing and committed to strengthening their anti-money laundering efforts; to work with the international financial institutions (IFIs) to incorporate international standards on combating money laundering and terrorist financing into their operations; to use all available tools to deter and punish money laundering and terrorist financing; and to improve international cooperation and effectiveness in investigating and prosecuting money launderers.