Major anti-money laundering conference set in South Florida
HOLLYWOOD, Fla. (AP) — A major conference on combatting global money laundering is drawing bankers, government regulators, law enforcement officials and hundreds of others to South Florida.
The three-day event opening Monday at a Hollywood hotel is sponsored by the Association of Certified Anti-Money Laundering Specialists. It comes amid an international controversy over leaked documents from a Panama law firm showing how offshore shell corporations are used to launder money from crimes such as drug trafficking and government corruption.
The conference also coincides with a U.S. Treasury Department effort to more closely monitor large, cash-only real estate purchases in Miami and New York for money laundering activity. A senior Treasury official responsible for that initiative is set to speak Tuesday.
Authorities say South Florida has long been a hub for international money laundering.