Tag: national security council
US Sending Urgently Needed Vaccine Components And Medical Gear To India

US Sending Urgently Needed Vaccine Components And Medical Gear To India

By Andrea Shalal WILMINGTON (Reuters) -The United States will immediately provide raw materials for COVID-19 vaccines, medical equipment and protective gear to help India respond to a massive surge in COVID-19 infections, a White House spokeswoman said on Sunday. "The United States is working around the clock to deploy available resources and supplies," National Security Council spokeswoman Emily Horne said in a statement. Horne said the materials would help India manufacture the Covishield vaccine. The United States would also send therapeutics, rapid diagnostic test kits and ventilators. Was...

How Biden Can Curtail Terrorism, Tax Evasion, And Money Laundering

How Biden Can Curtail Terrorism, Tax Evasion, And Money Laundering

Reprinted with permission from DC Report

Money laundering, both for terrorist finance and tax evasion, threatens national security. Now a private group that watches the quality of anti-money laundering efforts has put forth a smart plan to modernize and upgrade our government's capacity to track illicit cross-border financial transactions.

This is news you will be hard-pressed to find elsewhere.

Global Financial Integrity has a plan, and it's a good one, to better America's Financial Crimes Enforcement Network. FinCEN, as it's known, is a critical government agency housed at Treasury and staffed heavily with IRS financial sleuths. It doesn't get nearly the respect or budget it deserves.

Global Financial Integrity is itself an under-appreciated Washington nonprofit funded by a host of sources including the Ford Foundation and five governments, though not the United States. On a budget of not much more than $1 million per year, it has done solid work calling attention to the growing problem of illicit finance.

Jim Henry, DCReport's economics correspondent, has spent decades documenting the flow of illicit money. He estimates from analysis of official banking and trade documents that at least $40 trillion of illicit money sloshes around the globe. The total may be $50 trillion.

To get an idea of the gigantic size of that bag of corrupt money consider this: Henry's lower-end estimate almost equals the combined annual economic output of the world's two largest economies, America and China.

Global Financial Integrity, in a report titled "Enhancing National Security by Re-imagining FinCEN," makes these recommendations:

  1. Give the FinCEN director a seat on the Deputies Committee of the National Security Council (NSC) to raise the agency's stature within the national security community.
  2. Create within FinCEN a National Anti-Money Laundering Data Center for advanced data collection, synthesis, analysis, and distribution to law enforcement for AML activity.
  3. Establish a "Manhattan Project" to identify, develop, and use state-of-the-art technologies needed to fulfill the technology for that data center.
  4. Launch within FinCEN a National Anti-Money Laundering Training Center which will be an anti-money laundering knowledge and education hub for FinCEN staff, financial institution regulators, law enforcement at the federal, state, and local levels and for both state and federal prosecutors.
  5. Create a Strategic Analysis Team to examine emerging and long-term trends in money laundering methods and computer technologies to counter those threats.

Those are superb ideas all. But will Congress care?

A core problem with hunting for terrorist finance is that the tools used to sift through billions of transactions involving trillions of dollars are the financial equivalent of trawling the ocean bottom for cod. Trawlers catch plenty of cod, but they also drag in many unwanted species.

Tax Cheats Off The Hook

The George W. Bush administration was averse to a serious hunt for big-league tax cheats. It disconnected from a nascent movement by major countries to coordinate their tax policies, a boon to tax cheats. It even refused to hire 80 more IRS investigators to hunt for transactions by Al Qaeda and other terrorist groups in the wake of 9/11.

Source: UN Office on Drugs and Crime

The official excuse was that taxpayers couldn't afford an extra $12 million in spending. That is an absurdity when trillions were being spent on the wars in Afghanistan, still underway, and Iraq. But the funding denial made perfect sense if you knew that anti-money laundering nets catch tax cheats along with terrorists. And since the political donor class is rife with tax cheating, catching tax cheats can be inconvenient for politicians in power, and fellow party members, as a Congressional staffer recently reminded me.

In writing about money laundering in casinos since 1988, in my coverage of taxes since 1995, and on terrorist finance after 9/11, I developed a deep appreciation for the unsung work of FinCEN – and recognition of its weaknesses.

More People, Better Tech

What is needed now to strengthen FinCEN: more staff, super-sophisticated computers on par with the National Security Agency, and, most of all, adding a seat for FinCEN at White House National Security Council meetings.

A FinCEN director once told me that given enough time and resources his staff could find a single $19.99 credit card transaction anywhere in the world. The 9/11 attacks were cheap, costing only about $100,000. We shouldn't forget that relatively small expenditures can be used to cause enormous harm.

To find the little transactions behind big attacks in the future FinCEN needs enormous computer power to separate golden nuggets of fact from the massive overburden of routine financial transactions. FinCEN also needs to be set free to find not just terrorists, but tax cheats.

With trillions of dollars of illicit money in the hands of criminals, kleptocrats, and terrorists, and hundreds of billions of dollars of federal income taxes evaded each year, it's long past time to upgrade FinCEN.

Donald Trump

Inside Trump’s Decision To Leave The World Health Organization

ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.

Right before President Donald Trump unveiled punitive measures against China on May 29, he inserted a surprise into his prepared text.

“We will be today terminating our relationship with the World Health Organization," he announced during a press conference in the Rose Garden.

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John Bolton

Trump Threatens Bolton With 'Criminal Problems’ Over Book

Donald Trump has threatened his former national security adviser, John Bolton, with a vague "criminal problem" if the former national security adviser proceeds to publish a memoir that describes the president's foreign policy as perilous, self-serving, and possibly unlawful.

While Trump pointed to Attorney General William Barr as the source of any potential charges against Bolton, he strongly suggested that his estranged adviser will encounter imminent legal problems. "We'll see what happens. They're in court — or they'll soon be in court," Trump said about the book, set to be released early next week.

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