T4 B10 Rueda Fdr- Entire Contents- Summer 2001 Andres Rueda Paper- 1st Pg Scanned For Reference- Fair Use 823
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32 of 100 DOCUMENTS Copyright (c) 2001 Michigan State University-DCL Journal of International Law Summer, 2001 10MSU-DCLJ. Int'lL. 141
LENGTH: 33739 words ARTICLE: INTERNATIONAL MONEY LAUNDERING LAW ENFORCEMENT & THE USA PATRIOT ACT OF 2001
Andres Rueda* •"Cornell, B.A., Georgetown, J.D., LLM. This article is dedicated to my sister Monica Rueda, for her love and support. Comments welcome at ruedaa [email protected].
SUMMARY: ... Money laundering may be generally defined as making the funds used in, or resulting from, criminal activity appear legitimate. ... The continuing presence of money laundering havens aggravates the difficulties that engulf law enforcement. ... The ever-changing face of money laundering means that law enforcement is constantly playing a game of catch-up. ... It is static, and does not allow for a tailored law enforcement approach responsive to the latest moneylaundering gimmick. ... Second, whoever conducts a financial transaction to conceal the origins of dirty money is also guilty of money laundering. Third, whoever conducts a financial transaction with the intent to avoid a transaction reporting requirement is guilty of money laundering. ... In the U.S., the mainstay of anti-money laundering efforts is the country's extensive cash and financial transaction reporting system. ... Accordingly, money laundering performed abroad through a foreign bank is explicitly within its purview. ... Third, Treasury is directed to take actions that are sufficient to uphold the purposes international money laundering law enforcement. ... Before law enforcement officials can even begin to follow the money trail, they must recreate the original money laundering scheme. ... Sting operations are of course not limited to international money laundering law enforcement.... "If governments don't find ways of crossing international boundaries as fast as the criminals can use computers to move across boundaries, the criminals are going to win." - Jonathan Winer, U.S. deputy assistant secretary of the State Department's Bureau of International Narcotics and Law Enforcement
TEXT-1: [*141] Introduction
LENGTH: 33739 words ARTICLE: INTERNATIONAL MONEY LAUNDERING LAW ENFORCEMENT & THE USA PATRIOT ACT OF 2001
Andres Rueda* •"Cornell, B.A., Georgetown, J.D., LLM. This article is dedicated to my sister Monica Rueda, for her love and support. Comments welcome at ruedaa [email protected].
SUMMARY: ... Money laundering may be generally defined as making the funds used in, or resulting from, criminal activity appear legitimate. ... The continuing presence of money laundering havens aggravates the difficulties that engulf law enforcement. ... The ever-changing face of money laundering means that law enforcement is constantly playing a game of catch-up. ... It is static, and does not allow for a tailored law enforcement approach responsive to the latest moneylaundering gimmick. ... Second, whoever conducts a financial transaction to conceal the origins of dirty money is also guilty of money laundering. Third, whoever conducts a financial transaction with the intent to avoid a transaction reporting requirement is guilty of money laundering. ... In the U.S., the mainstay of anti-money laundering efforts is the country's extensive cash and financial transaction reporting system. ... Accordingly, money laundering performed abroad through a foreign bank is explicitly within its purview. ... Third, Treasury is directed to take actions that are sufficient to uphold the purposes international money laundering law enforcement. ... Before law enforcement officials can even begin to follow the money trail, they must recreate the original money laundering scheme. ... Sting operations are of course not limited to international money laundering law enforcement.... "If governments don't find ways of crossing international boundaries as fast as the criminals can use computers to move across boundaries, the criminals are going to win." - Jonathan Winer, U.S. deputy assistant secretary of the State Department's Bureau of International Narcotics and Law Enforcement
TEXT-1: [*141] Introduction
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