Anti Trade Money Laundering Bill Introduced
A bipartisan bill that would create an international financial crime center within Homeland Security Investigations, and protect funding for the Trade Transparency Unit at DHS, was recently introduced by Sens. Sheldon Whitehouse, D-R.I., Bill Cassidy, R-La., and Angus King, an independent from Maine. The Trade Transparency Unit establishes agreements with foreign governments to share import-export data.
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In a news release announcing the bill, Cassidy said: “The U.S. needs a coordinated effort to combat counterfeit and illegal goods crossing our border. Our current approach is simply not working. A Fusion Center dedicated to fighting illicit trade will protect Americans and stop drug traffickers, Chinese counterfeiters, and other bad actors from profiting off of gaps in our customs laws.”
Whitehouse said criminals, corrupt government officials from foreign countries and drug cartels exploit U.S. enforcement gaps to launder their money in the U.S.: “My bipartisan bill with Senator Cassidy will better coordinate our whole-of-government response to financial crimes and help ensure the kleptocrats and criminals hiding their money in America will be held to account.”