We are telling the drug lords that every democratic nation in the hemisphere intends to strengthen its laws and regulations to make money laundering a crime, and to make it easier to detect, prosecute, and punish money launderers. Rubin chaired the conference, which was hosted by Argentina and was one of a series of meetings to discuss how the 34 countries that participated in the Summit of the Americas a year ago could work together to enact the goals set forth in the Summit's Declaration of Principles and Plan of Action. They rightly recognized the very dangerous and destructive effect money laundering has on our economies, and on both our private and public institutions.
Money laundering is central to profit taking in the drug trade.
This communique marks an important milestone in our efforts to protect the integrity of our economies and the health of our societies. Today, the nations of this hemisphere have declared there can be no sanctuary for money launderers. Today, the nations of this hemisphere are telling organized crime that we will work together to make it harder for criminals to legitimize the proceeds of crime. We are telling the drug lords that every democratic nation in the hemisphere intends to strengthen its laws and regulations to make money laundering a crime, and to make it easier to detect, prosecute, and punish money launderers. This communique provides the countries of this hemisphere a powerful vantage point to attack the drug trade by denying a haven for its profits.