Presentations

20th Parliamentary Intelligence-Security Forum – Opening remarks

Senator Bill Cassidy stated that over the past several decades, Congress, Private Industry, law enforcement, Regulatory Agencies have an active reform making it harder for illicit organizations to move money to the formal banking system, as a result, criminals have been forced to turn

to trade markets, legal trade, to launder money rather than traditional money laundering schemes. They misrepresent the price, quantity, or quality of imports and exports, and when an undervalued product moves at a below market price through illicit networks, those networks sell them for a profit, that exchange of value is how they move illegal money through a legal trade system. He then stated that the Allies have to follow the money, then identify the sources behind these Illicit Trade networks.

What are the solutions?

Modernize the custom system

Stepping up law enforcement activities under the existing laws is another key component

Sustain a meaningful relationship between the public and private sectors

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