During 2002, the Department's Criminal Investigations Bureau (CIB) participated in a wide range of activities related to anti-money laundering efforts and issues related to identifying and freezing funds linked to terrorist organizations. CIB personnel continued to work closely with federal, state, and local law enforcement agencies involved in various anti-terrorist initiatives.
CIB was instrumental in producing a video on identity theft to promote awareness and offer ways in which consumers can protect themselves against the fastest growing crime in the nation.
The Department has been successful in fighting tax evasion as well. CIB referred suspicious transaction activity at Tyco International to the Manhattan District Attorney's Office. The ensuing investigation revealed widespread abuses and resulted in indictments of several officers, including the company's CEO.
Highlights of CIB 2002 Anti-Terrorism Efforts:
- CIB reviewed all Bank Secrecy Act/Anti-Money Laundering/USA PATRIOT Act compliance examinations prepared by Department examiners on banks and other financial institutions. CIB personnel performed the majority of examinations for money service businesses such as money transmitters and check cashers. Where required, corrective action was recommended.
- CIB Investigative Counsel participated in a SAR Symposium sponsored by the Federal Reserve Bank of New York to educate the industry and law enforcement about important Bank Secrecy Act/USA PATRIOT Act compliance matters.
- CIB staff participated in the U.S. Department of State's International Visitor Program and met with representatives of several countries, including Germany, Malaysia, and various Eastern Caribbean nations. Discussions centered on international anti-money laundering efforts, terrorism-related financing, and bank regulation in general in the United States.