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United States Department of StateBureau of International Narcotics and LawEnforcement AffairsInternationalNarcotics ControlStrategy ReportVolume IIMoney LaunderingMarch 2020
INCSR 2020 Volume IIMoney LaunderingTable of ContentsCommon Abbreviations . 6Definitions . 9Legislative Basis and Methodology for the INCSR . 14Overview. 16Training Activities . 19Board of Governors of the Federal Reserve System (FRB) . 19Department of Homeland Security . 20Customs and Border Patrol (CBP). 20Department of Justice . 21Drug Enforcement Administration (DEA) . 21Federal Bureau of Investigation (FBI) . 21Office of Overseas Prosecutorial Development, Assistance andTraining (OPDAT) . 22Department of State . 24Department of the Treasury . 27Financial Crimes Enforcement Network (FinCEN) . 27Internal Revenue Service, Criminal Investigations (IRS-CI) . 27Office of the Comptroller of the Currency (OCC) . 28Office of Technical Assistance (OTA) . 28Comparative Table Key . 30Comparative Table . 32Afghanistan . 37Albania. 39Algeria . 41Antigua and Barbuda. 43Argentina . 45Armenia . 47Aruba . 49Azerbaijan . 51Bahamas. 53Barbados . 55Belgium . 57Belize . 592
INCSR 2020 Volume IIMoney LaunderingBenin . 61Bolivia . 63Bosnia and Herzegovina . 65Brazil . 67British Virgin Islands . 69Burma . 72Cabo Verde. 74Canada. 76Cayman Islands . 78China, People’s Republic of . 80Colombia . 82Costa Rica . 84Cuba . 86Curacao . 88Cyprus . 90Dominica . 95Dominican Republic . 96Ecuador . 98El Salvador . 101Georgia . 103Ghana . 105Guatemala . 107Guyana . 109Haiti. 111Honduras . 113Hong Kong . 115India . 117Indonesia . 119Iran . 121Italy . 123Jamaica . 125Kazakhstan . 127Kenya . 129Kyrgyz Republic. 1323
INCSR 2020 Volume IIMoney LaunderingLaos . 134Liberia . 135Macau . 137Malaysia. 139Mexico . 141Morocco. 144Mozambique . 146Netherlands . 148Nicaragua . 150Nigeria . 152Pakistan . 154Panama . 156Paraguay . 159Peru . 161Philippines . 163Russian Federation . 165St. Kitts and Nevis . 167St. Lucia. 169St. Vincent and the Grenadines . 171Senegal . 173Sint Maarten . 176Spain . 178Suriname . 180Tajikistan . 182Tanzania . 184Thailand . 186Trinidad and Tobago . 187Turkey . 189Turkmenistan . 191Ukraine . 193United Arab Emirates . 196United Kingdom . 198Uzbekistan. 200Venezuela . 2024
INCSR 2020 Volume IIMoney LaunderingVietnam. 2045
INCSR 2020 Volume IIMoney LaunderingCommon Abbreviations1988 UN DrugConvention1988 United Nations Convention against Illicit Traffic in NarcoticDrugs and Psychotropic SubstancesAMLAnti-Money LaunderingAPGAsia/Pacific Group on Money LaunderingARSAlternative Remittance SystemBMPEBlack Market Peso ExchangeCBPCustoms and Border ProtectionCDDCustomer Due DiligenceCFATFCaribbean Financial Action Task ForceCFTCombating the Financing of TerrorismCTRCurrency Transaction ReportDEADrug Enforcement AdministrationDHSDepartment of Homeland SecurityDHS/HSIDepartment of Homeland Security/Homeland Security InvestigationsDNFBPDesignated Non-Financial Businesses and ProfessionsDOJDepartment of JusticeDOSDepartment of StateEAGEurasian Group to Combat Money Laundering and Terrorist FinancingECEuropean CommissionECOWASEconomic Community of West African StatesEOExecutive OrderESAAMLGEastern and Southern Africa Anti-Money Laundering GroupEUEuropean UnionFATFFinancial Action Task ForceFBIFederal Bureau of InvestigationFinCENDepartment of the Treasury’s Financial Crimes Enforcement NetworkFIUFinancial Intelligence UnitFTZFree Trade ZoneGABACAction Group against Money Laundering in Central AfricaGAFILATFinancial Action Task Force of Latin America6
INCSR 2020 Volume IIMoney LaunderingGDPGross Domestic ProductGIABAInter Governmental Action Group against Money LaunderingIBCInternational Business CompanyILEAInternational Law Enforcement AcademyIMFInternational Monetary FundINCSRInternational Narcotics Control Strategy ReportINLBureau of International Narcotics and Law Enforcement AffairsIRSInternal Revenue ServiceIRS-CIInternal Revenue Service, Criminal InvestigationsISILIslamic State of Iraq and the LevantKYCKnow-Your-CustomerMENAFATFMiddle East and North Africa Financial Action Task ForceMERMutual Evaluation ReportMLATMutual Legal Assistance TreatyMONEYVALCommittee of Experts on the Evaluation of Anti-Money LaunderingMeasures and the Financing of TerrorismMOUMemorandum of UnderstandingMSBMoney Service BusinessMVTSMoney or Value Transfer ServiceNGONon-Governmental OrganizationNPONon-Profit OrganizationOASOrganization of American StatesOAS/CICADOAS Inter-American Drug Abuse Control CommissionOECDOrganization for Economic Cooperation and DevelopmentOFACOffice of Foreign Assets ControlOPDATOffice of Overseas Prosecutorial Development, Assistance andTrainingOTAOffice of Technical AssistancePEPPolitically Exposed PersonSARSuspicious Activity ReportSTRSuspicious Transaction ReportTBMLTrade-Based Money Laundering7
INCSR 2020 Volume IIMoney LaunderingTTUTrade Transparency UnitUNUnited NationsUNCACUnited Nations Convention against CorruptionUNGPMLUnited Nations Global Programme against Money LaunderingUNODCUnited Nations Office on Drugs and CrimeUNSCRUnited Nations Security Council ResolutionUNTOCUnited Nations Convention against Transnational Organized CrimeUSAIDUnited States Agency for Interna
frequently used in the “layering” stage of money laundering. Integration: The last stage of the money laundering process. The laundered money is introduced into the economy through methods that make it appear to be normal business activity, to include real estate purchases, investing in the stock market, and buying automobiles, gold, and
