,h4 ,,res4 #bjf ,9 ! ,h\se ( ,repres5tatives1 ,u4 ,s41 ,m>* #ac1 #bjai ,,resolution ,:]eas money laund]+ & o!r f9ancial crimes are s]i\s ?reats to our national & economic security2 ,:]eas ! ,unit$ ,nations ,(fice on ,drugs & ,crime has report$ ,! e/imat$ am\nt ( money laund]$ globally 9 "o ye> is #b -- #e ( global ,,gdp1 or #hjj billion -- #b trillion 9 curr5t ,,u doll>s2 ,:]eas ! scale1 effici5cy1 & complexity ( ! ,u4,s4 f9ancial sy/em make x a prime t>get = ^? :o seek to conceal1 laund]1 & move ! proce$s ( illicit activity2 ,:]eas money laund]]s1 t]rori/ f9anci]s1 corrupt individuals & organizations1 & _! facilitators h prov5 to adapt quickly 9 ord] to avoid detection2 ,:]eas giv5 ! global nature ( money laund]+ & t]rori/ f9anc+1 & ! increas+ int]relat$ness )9 ! f9ancial sy/em1 a secure national & multilat]al framework is ess5tial to ! integrity ( ! ,u4,s4 f9ancial sy/em2 ,:]eas ext5sive collaboration among f9ancial regulators1 ! ,dep>tm5t ( ! ,treasury1 law en=cem5t1 & ! private sector is requir$ to curtail ! illicit fl[ ( money ?r\gh\t ! ,unit$ ,/ates2 ,:]eas despite h[ ext5sive & effective ^! ef=ts are 9 ! ,unit$ ,/ates1 !re is /ill sub/antial room = improvem5t2 ,:]eas f9ancial compliance1 report+1 inve/igation1 & collaboration1 z well z c\rage\s :i/lebl[]s & inve/igative report+ h _h significant impact 9 %9+ sunlight on ! p & in/itutions beh9d d>k money & m>kets2 ,:]eas 9 #bjaf1 ! ,f9ancial ,action ,task ,=ce 7,,fatf71 ! int]national /&>ds sett+ body1 evaluat$ ! ,unit$ ,/ates' anti-money laund]+_/combat+ ! f9anc+ ( t]rorism measures & det]m9$ ! ,unit$ ,/ates has significant gaps 9 its framework2 ,:]eas 9 #bjaf1 ! ,,fatf f\nd t 9 ! ,unit$ ,/ates1 ,m9imal measures are impos$ on designat$ non-f9ancial bus9esses & pr(essions 7,d,n,f,b,ps71 o!r ?an cas9os & deal]s 9 preci\s metals & /ones2 ,:]eas 9 #bjaf1 ! ,,fatf recomm5d$1 ,! ,u4,s4 %\ld conduct a vuln]ability analysis ( ! m9imally cov]$ ,,dnfbp sectors to address ! high] risks to :i* ^! sectors are expos$1 & consid] :at measures c\ld be introduc$ to address !m2 ,:]eas deal]s 9 arts & antiquities are n1 by def9ition1 cov]$ f9ancial in/itutions requir$ to comply ) ! ,bank ,secrecy ,act2 ,:]eas ,f$]al au?orities h caution$ t art collectors & deal]s to be p>ticul>ly c>eful trad+ ,ne> ,ea/]n antiquities1 w>n+ t artifacts plund]$ by t]rori/ organizations su* z ! ,islamic ,/ate ( ,iraq & ! ,levant are ent]+ ! m>ketplace2 ,:]eas1 accord+ to ! ,antiquities ,coalition1 because ! ,unit$ ,/ates is ! l>ge/ de/9ation = ar*aeological & e?nological objects f ar\nd ! _w1 ! discov]y ( rec5tly loot$ & traffick$ artifacts 9 our c\ntry n only makes ,am]icans & our in/itutions accessories to crimes1 b also ?reat5s our relations ) o!r c\ntries2 ,:]eas ! real-e/ate indu/ry1 bo? comm]cial & resid5tial1 is exempt f hav+ to develop & implem5t a f\r-pill> anti-money laund]+ program pursuant to ! ,bank ,secrecy ,act2 ,:]eas x 0 ass]t$ 9 a #bjah ,conf]5ce ,report by ! ,t]rorism1 ,transnational ,crime & ,corruption ,c5t] at ! ,s*> ,s*ool ( ,policy & ,gov]nm5t ( ,george ,mason ,univ]sity1 money laund]+ 9 real e/ate 7,,mlre7 has damag+ effects on local economies by negatively impact+ prop]ty prices & dislocat+ resid5ts2 ,:]eas 9 #bjag1 9 response to evid5ce ab\t significant money laund]+ ?r\gh real e/ate 9 ! ,unit$ ,/ates1 ! ,f9ancial ,crimes ,en=cem5t ,network 7,fin,c,e,n7 issu$ ,geographic ,t>get+ ,ord]s 7,g,t,os7 requir+ limit$ b5eficial own]%ip disclosure 9 c]ta9 transactions involv+ high-end luxury real e/ate & f\nd t ab\t #cj p]c5t ( ! transactions cov]$ by ! ,g,t,os involve a b5eficial own] or pur*as] repres5tative t is also ! subject ( a previ\s suspici\s activity report2 ,:]eas ! influx ( illicit money1 includ+ f ,russian olig>*s1 has fl[$ l>gely unimp$$ into ! ,unit$ ,/ates ?r\gh ^! anonym\s %ell companies & into ,u4,s4 inve/m5ts1 includ+ luxury high-end real e/ate2 ,:]eas ! ,unit$ ,/ates has n fulfill$ ! recomm5d$ /eps to address ! money-laund]+ loopholes t ! ,,fatf has id5tifi$ ) ,,dnfbp sectors2 ,:]eas high-pr(ile en=cem5t actions aga9/ "s ( ! l>ge/ & mo/ sophi/icat$ f9ancial in/itutions raise tr\bl+ que/ions ab\t ! effectiv5ess ( ,u4,s4 dome/ic anti-money laund]+ & c\nt]t]rorism f9anc+ regulatory1 compliance1 & en=cem5t ef=ts2 ,:]eas !re are f9ancial in/itutions & individuals employ$ !re9 :i* cont9ue to engage 9 egregi\s violations ( ! ,bank ,secrecy ,act & ent] into def]r$ prosecution agreem5ts & non-prosecution agreem5ts r ?an fac+ convictions & s5t5ces correspond+ to ! sev]ity ( _! violations2 ,:]eas effective anti-money laund]+ programs mu/ emphasize s\nd corporate gov]nance1 includ+ bus9ess-l9e acc\ntability & cle> l9es ( legal responsibility = individuals2 & ,:]eas anti-money laund]+ exam9ations 9 rec5t ye>s at times fail$ to recognize ! cumulative effect ( ! violations !y cit$1 in/ead n>r[ly focus+ _! att5tion on individual bank+ units1 ?us p]mitt+ national banks to avoid & delay correct+ problems1 :i* all[$ massive problems to occur be=e s]i\s en=cem5t actions 7 tak53 ,n[1 !re=e1 be x ,t ! ,h\se ( ,repres5tatives-- 7#a7 ackn[l$ges t ! lack ( sunlight & transp>5cy 9 f9ancial transactions poses a ?reat to our national security & our economy's security2 7#b7 supports ef=ts to close loopholes t all[ corruption1 t]rorism1 & money laund]+ to infiltrate our c\ntry's f9ancial sy/em2 7#c7 enc\rages transp>5cy to detect1 det]1 & int]dict individuals1 entities1 & networks engag$ 9 money laund]+ & o!r f9ancial crimes2 7#d7 urges f9ancial in/itutions to comply ) ! ,bank ,secrecy ,act & anti-money laund]+ laws & regulations2 & 7#e7 affirms t f9ancial in/itutions & individuals %\ld be held acc\ntable = money laund]+ & t]ror f9anc+ crimes & violations4 ,cl]k4