NCJ Number
158400
Date Published
1990
Length
36 pages
Annotation
In July 1989, the Heads of State or Government of the seven major industrial nations meeting at the 15th annual Economic Summit, as well as the Commission of the European Communities, convened a task force to examine the problem of money laundering and to recommend law enforcement measures.
Abstract
Three working groups were created, dealing with money laundering statistics and methods, legal questions, and administrative and financial cooperation. This final report begins with a detailed analysis of the international money laundering process, its extent, and methods. The international instruments and national programs that already exist in terms of law enforcement are described. Recommendations are presented with a view toward enhancing the role of the financial system, improving national legal systems to combat money laundering, and strengthening international cooperation.