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Treasury publishes money laundering report, urges banks to manage risks

( June 12, 2015, 19:52 GMT | Official Statement) -- MLex Summary: The US Treasury Department issued a national money laundering report and urged the banking industry to use it to help manage risks to comply with the Bank Secrecy Act and sanctions laws. "It is the view of the Treasury Department that financial institutions that establish and maintain appropriate risk-based anti-money laundering programs will be well positioned to effectively manage accounts, prevent illicit transactions, and avoid enforcement action," Adam Szubin, acting undersecretary for terrorism and financial intelligence, said in the report.Statement follows in full. Also see documents below....

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