We know that criminals manipulate financial systems in the United States and abroad to further a wide range of illicit activities. Left unchecked, money laundering can erode the integrity of our nation's financial institutions. FinCEN is a network, a link between the law enforcement, financial and regulatory communities. Because the changing financial world creates vast opportunities for criminals, FinCEN strives to work with its domestic and international partners to maximize the information sharing network and find new ways to prevent and detect financial crime. The profits of crime that creep into the United States' financial system each year are staggering and detrimental by any calculation.
Drug trafficking alone generates tens of billions of dollars a year.
Many believe that it is simply not possible to pinpoint the amount. It is clear, however, that the problem is enormous. It is also clear that money laundering extends far beyond hiding narcotics profits. The dimension of the problem increases rapidly when one considers, for example, trade fraud and tax evasion subject to the money laundering statutes, as well as organized crime and arms smuggling. Intense financial investigations are essential if we are to beat criminals at their trade-whether it's narcotics trafficking, organized crime, money laundering or bank fraud.