,,iv  #aaf? ,,congress  #a/ ,session    
,h4 ,,res4 #bjf  ,,9 ,,! ,,h\se ,,(     
,,repres5tatives  ,m>* #h1 #bjai,ms4    
,wat]s submitt$ ! foll[+ resolution2 :i*
 0 ref]r$ to ! ,committee on ,f9ancial  
,s]vices  ,,resolution  ,ackn[l$g+ t !  
lack ( sunlight & transp>5cy 9 f9ancial 
transactions & corporate =mation poses a
 ?reat to our national security & our   
economy's security & support+ ef=ts to  
close relat$ loopholes4  ,:]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+ 7su* z
 ! ,panama ,pap]s7 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 9 a         
,conf]5ce ,report by ! ,t]rorism1       
,transnational ,crime & ,corruption     
,c5t] at ! ,s*> ,s*ool ( ,policy &      
,gov]nm5t ( ,george ,mason ,univ]sity1  
/at$ ,! lack ( b5eficial own]%ip        
transp>5cy is ! mo/ important s+le      
factor facilitat+ ,,mlre 9 ! ,u4,s42    
,:]eas ! lack ( b5eficial own]%ip       
disclosure has be5 f\nd 9 sev]al        
reports1 su* z ^? by ! ,,fact ,coalition
 & ,pol>is1 to facilitate human         
traffick+1 corruption1 t]rorism1        

sanctions evasions1 & num]\s o!r        
f9ancial crimes2 ,:]eas ! e/abli%m5t (  
national-level b5eficial own]%ip regi/]s
 has be5 adopt$ by o!r develop$ nations1
 includ+ ^? ( ! ,european ,union2 ,:]eas
 9 #bjaf1 ! ,,fatf f\nd t ,lack ( timely
 access to adequate1 accurate & curr5t  
b5eficial own]%ip in=mation rema9s "o ( 
! fundam5tal gaps 9 ! ,u4,s4 context2   
,:]eas ! ,,fatf recomm5d$ ! ,unit$      
,/ates ,take /eps to ensure t b5eficial 
own]%ip in=mation ( ,u4,s4 legal p]sons 
is available to compet5t au?orities 9 a 
timely mann]1 by requir+ t su* in=mation
 is obta9$ at ! ,f$]al level2 ,:]eas !  
,unit$ ,/ates has n fulfill$ ! recomm5d$
 /eps to address ! money-laund]+        
loopholes t ! ,,fatf has id5tifi$ )     
,,dnfbp sectors & ! lack ( b5eficial    
own]%ip disclosure2 ,:]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 =          
individuals1 includ+ bo>d memb]s & *ief 
executive (fic]s2 & ,:]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
 corporate 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 laws & regulations2 &
  7#e7 affirms t f9ancial in/itutions & 
individuals %\ld be held acc\ntable =   
money-laund]+ & t]ror-f9anc+ crimes &   
violations4