Acts of terror, illicit drugs and money laundering

Abstract

Highlights the connexions between terrorism, illicit drugs and money laundering; the author is General Counsel for the Executive Office of the President, Office of National Drug Control Policy in the USA. Describes how money laundering is intimately linked to terrorism and drug trafficking in Colombia, using the example of the Black Market Peso Exchange, a complex underground financial system to evade reporting and record‐keeping requirements of the Bank Secrecy Act. Indicates the efforts that the USA is making to deprive terrorists of the money they need to finance their activities, including Executive Order 13223 and the PATRIOT Act, and progress in international cooperation to the same end.

Citation

Jurith, E. (2003), "Acts of terror, illicit drugs and money laundering", Journal of Financial Crime, Vol. 11 No. 2, pp. 158-162. https://doi.org/10.1108/13590790410809086