House Money Laundering Bill Reaches Critical Stage

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Wednesday, January 1, 1986
Author: 
Bruce Zagaris
Volume: 
2
Issue: 
1
Abstract: 
The House Banking, Finance & Urban Affairs Committee has announced that it will hold hearings examining the Bank Secrecy Act.  The hearings, which will be held at a yet to be determined time, will focus on the Bank Secrecy Act and how it relates to Currency Transaction Report filings, the present level of compliance with the Act, and the practice of "laundering" money from illegal activities.  The critical action, however, is now in the Crime Subcommittee of the House Judiciary Committee.