US TRAVEL AGENTS MONEY LAUNDERING
February 1st, 2005
BY ALAN OSBORNCAN a travel agency be considered a financial institution, and if so how vulnerable is it to money laundering? Should it have to meet the same reporting requirements, for instance, as banks and insurance brokers? These are tricky questions and they have dogged the American anti-money laundering authorities for some three years now, as they try to frame comprehensive controls following the September 11 attacks. No clear answers are in sight.Following the passage of the Patriot Act in October 2001, the US Treasury's Financial Crimes Enforcement ...
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