OBAMA’S FIRST TERM AML REPORT CARD: NICE ARRESTS, SHAME ABOUT THE PUNISHMENTS

MUCH was expected on the anti-money laundering (AML) front from President Barack Obama’s first USA administration. But the verdict of professional AML observers is that while important gains were achieved in some areas, the overall effect was blighted by a curious failure of will to follow through. In the eyes of many American AML specialists, for instance, there was a glaring mismatch between the aggressive exposure by federal agencies such as the Department of Justice and local prosecutors such as the Manhattan district attorney (DA) of malpractices at major ...


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