Cash still king
This from an article by Tom Brown from Reuters yesterday:
Times have changed since U.S. money laundering laws were beefed up in the 1980s -- and more recently under the USA Patriot Act. Financial innovations such as "cyber cash" were one focus of an anti-money laundering conference in Hollywood, just north of Miami, this week.
Nevertheless, it could be years before electronic money and other sophisticated payment systems replace cash as a major money-laundering or terrorism-financing threat.
Times have changed since U.S. money laundering laws were beefed up in the 1980s -- and more recently under the USA Patriot Act. Financial innovations such as "cyber cash" were one focus of an anti-money laundering conference in Hollywood, just north of Miami, this week.
Nevertheless, it could be years before electronic money and other sophisticated payment systems replace cash as a major money-laundering or terrorism-financing threat.



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