Senators push Obama for improved money regulations

With the report termed “The Buck stops here: Improving U.S. Anti-Money Laundering Practices” Sens. Dianne Feinstein and Chuck Grassley are calling upon the Obama administration and Congress to clamp down on international “blood money” laundering operations that annually wash well over $1 trillion for drug traffickers and other criminals.

Feinstein (D-Calif.) and Grassley (R-Iowa), the leaders of the Senate Caucus on International Narcotics Control, contend that a combination of regulatory actions in the United States would effectively curtail laundering and, in turn, the drug trade.

“Drug traffickers are motivated by one thing: money,” Feinstein said. “The illicit proceeds from their crimes are blood money, and blood money has no place in our financial system.”
THE BUCK STOPS HERE: IMPROVING U.S. AML PRACTICES

THE BUCK STOPS HERE:
IMPROVING U.S. ANTI-MONEY
LAUNDERING PRACTICES