Bermuda Triangle Fact

U.S. DEPARTMENT OF STATE INTERNATIONAL NARCOTICS CONTROL STRATEGY REPORTMARCH 1995BUREAU FOR INTERNATIONAL NARCOTICS AND LAW ENFORCEMENT AFFAIRS FINANCIAL CRIMES AND MONEY LAUNDERING11995 INTERNATIONAL NARCOTICS CONTROL STRATEGY REPORTOVERVIEWThere were a number of significant accomplishments in the world of money laundering in 1994, and a number of new and/or intensified concerns. Accomplishments and concerns are summarized here and explained in detailed sections below.Accomplishments. Several financial center governments, such as Singapore and Panama, have adopted broad, new anti-money laundering policies and/or laws, and a number of governments were in the final stages of presenting/adopting new legislation.The Financial Action Task Force completed the evaluations of each of its 26 member governments, all conducted by outside experts and all culminating in recommendations for changes and improvements which will be monitored through continuing examinations be ... [Read More]

International Narcotics Control Strategy Reports

US DEPARTMENT OF STATEBUREAU OF INTERNATIONAL NARCOTICS MATTERSINTERNATIONAL NARCOTICS CONTROL STRAGEGY REPORTAPRIL 1994FINANCIAL CRIMES AND MONEY LAUNDERING1994 INTERNATIONAL NARCOTICS CONTROL STRATEGY REPORTINTERNATIONAL MONEY LAUNDERINGOVERVIEWIntelligence findings from North and South America, Eastern and Western Europe, South and East Asia, Africa and the Middle East confirm that another significant shift has occurred in money laundering trends and methods, requiring changes in policy and strategy for 1994.The critical aspects are the volume of non-drug related money laundering; increased investment of illegal proceeds in legitimate business, including the financial industry; and the targeting of financial systems in countries/territories (some with little or no domestic involvement in drug trading or other serious proceeds-generating crimes) to launder drug and other proceeds generated by crimes committed in other jurisdictions.In 1988, when the United Nations Convention was ... [Read More]

Policy and Program Developments

Overview for 2000For U.S. international antidrug programs, the year 2000 was one of important accomplishments and serious challenges. Long-term cooperation with our Western Hemisphere allies continued to bear fruit. We successfully attacked drug crop expansion, enhanced interdiction efforts, worked to arrest leaders of drug trafficking syndicates, and narrowed the opportunities for the drug trade to launder drug profits. At the same time, we provided our partners essential training assistance to strengthen their law enforcement and judicial systems, while helping them with programs to reduce drug consumption in their own countries. The year’s most noteworthy accomplishment was to keep the total Andean coca crop from expanding significantly. Six years of joint ... [Read More]

Money Laundering and Financial Crimes

Thailand (Primary). Thailand's role as a transit country for Southeast Asian narcotics makes it a prime target for money launderers. Thailand's geography and economy are factors that help account for this role. Northern Thailand forms part of the Golden Triangle with Burma and Laos. Although Thailand has made significant strides in reducing the production of illicit narcotics, it still serves as a major narcotics trafficking route from the Golden Triangle because of its good transportation infrastructure and international connections. Thailand's sizable Chinese minority population maintains economic and cultural ties to China, Singapore, Hong Kong, and to Chinese communities in other Southeast Asian countries. This community is a particularly intensive user of the alternative remittance systems (ARS), which facilitates the transfer and laundering of criminal proceeds from narcotics consuming countries such as the United States to producer countries such as Burma and Laos. Corrup ... [Read More]

US Department Of State Post Report

No unusual clothing is required for Prague. A fall and winter wardrobe suitable for damp New York weather should be satisfactory. Bring many pairs of low-heeled, perhaps crepe-soled, shoes or boots for Prague’s cobblestone pavements. Overshoes, galoshes or boots, raincoats, and umbrellas are needed. Because of the soft coal used for heating in the Czech Republic, light-colored clothing requires frequent cleaning in the winter. ...

Czech law requires that cars be equipped with catalytic converters, left and right outside rear view mirrors, mud flaps for rear tires, a rear fog light, a European first-aid kit and “triangle” emergency breakdown marker (available locally or at the PX in Germany), a set of spare fuses and bulbs, one spare wheel screw, and one spare spark plug. Snow tires are recommended for winter driving and radials provide better traction in cities. Austrian and German authorities often require that vehicles entering their territory in winter have tire chains. ... [Read More]

US Department Of State Post Report

Under Argentine law an imported automobile may not be sold until it has been in Argentina for 24 months following customs clearance. Owners of automobiles sold between the 24th and 36th month must pay a tax representing 60% of the exempted taxes. Between the 36th and 48th month, the tax is 40% of the vehicle’s cost. The customs service will draw up the corresponding certification and determine the fees due. After 48 months a vehicle may be sold free of such tax. If an employee sells a locally manufactured automobile that was purchased tax free, the employee is liable for at least a portion of the automobile sales tax. For diplomatic personnel, if the vehicle is sold within 6 months of the purchase date, the employee is liable for 100% of the tax; if it is sold within 12 months of purchase, the employee must pay 75% of the tax; and if sold within 24 months, 25% of the tax. For diplomatic personnel only, the employee may sell a locally manufactured vehicle tax free when transferring to a ... [Read More]

M) Money Laundering and Financial Crimes

Switzerland. Switzerland’s central geographic location; relative political, social, and monetary stability; wide range of available financial services; and long tradition of bank secrecy are all factors that make Switzerland a major international financial center. These same factors make Switzerland attractive to potential money launderers. However, Swiss authorities are aware of this and waive bank secrecy rules in the prosecution of money laundering and other criminal cases. ... [Read More]

Money Laundering and Financial Crimes

(1) As DEA also points out, "In some cases, the agent (business) may represent a variety of remittance companies. When this is the case, the agent may suggest dividing the deposit, sending a portion with each of the represented businesses (companies). Thus, detection is increasingly challenging."Federal authorities at the conference also highlighted the recent growth of smaller independent remitters (beyond the more established Western Union and MoneyGram systems), particularly of those providing service to and from Mexico. DEA reported that although these remitters provide important legitimate services to migrant worker populations, the location of these businesses, "do not necessarily parallel the employment centers for these laborers. Rather, it appears that the agent locations are primarily located in states without regulations governing the money services industry." ... [Read More]

M) Money Laundering and Financial Crimes

All other countries and jurisdictions evaluated in the INCSR report are separated into the two remaining groups, "Jurisdictions of Concern" and "Other Jurisdictions Monitored," on the basis of a number of factors which can include: (1) whether the country’s financial institutions engage in transactions involving significant amounts of proceeds from serious crime; (2) the extent to which the jurisdiction is or remains vulnerable to money laundering, notwithstanding its money laundering countermeasures, if any (an illustrative list of factors that may indicate vulnerability is provided below) ; (3) the nature and extent of the money laundering situation in each jurisdiction (for example, whether it involves drugs or other contraband); (4) the ways in which the U.S. regards the situation as having international ramifications; (5) the situation’s impact on U.S. interests; (6) whether the jurisdiction has taken appropriate legislative actions to address specific problems; (7) whether there ... [Read More]

Persian Mirrors: The Elusive Face of Iran

Where do we stand as a country vis-à-vis Iran? This is the question on everybody's minds. I like to describe Iran as the Bermuda Triangle of American foreign policy. Many U.S. presidents have ventured into these waters and have gotten lost forever. It's interesting to me that from the Iranian point of view, there is delight that George W. Bush has been elected President. Why? Well, Bush's father was perceived as having the right views toward Iran. His Inaugural Address talked about goodwill, begetting goodwill vis-à-vis Iran. There weren't economic sanctions under Bush I except those that were necessary to limit proliferation. Let's not forget that George Herbert Walker Bush once picked up the phone, so eager to have a dialogue with Iran, thinking that President Rafsanjani was on the other line. It turned out to be a hoax. The head of the main conservative coalition said recently, "We weren't the ones who strained relations between our two countries; Bush can start anew." An American-e ... [Read More]