If we are to make progress in our efforts to combat money laundering, we must focus on jurisdictions that provide the raw material and on those that provide the finished product. That is to say, we should focus on countries that have become major sources or destinations for dirty money. But the U.S. and its partners are taking aggressive action to curb money laundering. Today I want to highlight countries that have yet to take action against dirty money before discussing what we are doing to encourage them to combat money laundering without our existing authorities. Lax jurisdictions .
Crime is universal.
But some countries export more of it than others. Countries lacking an effective rule of law pose a disproportionate threat to the wellbeing of more stable societies. They are a major source of cross-border flows of dirty money. And some countries appear more willing than others to import the proceeds of crime. Jurisdictions with inadequate financial supervision are often the ultimate destination of these flows.