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U.S. Notes Weaknesses in Global Fight Against Drugs, Money Laundering
By Matt Squire
printThe international community isn't doing enough to catch money launderers, the U.S. State Department said today in a report on global efforts to battle narcotics trafficking. In its 2007 International Narcotics Control Strategy Report, the department identified Venezuela, Bolivia and Afghanistan as deficient in the war on drugs. Venezuela failed to adhere to international narcotics agreements, Afghanistan remains the top producer and trafficker of heroin, and Bolivia's efforts took a step backward, the report said. To avoid regulatory scrutiny, financial institutions must exercise more care with transactions involving these and other countries identified in the report, said Bruce Zagaris a...
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