The Treasury Department laid out recommendations Friday for tightening laws to guard against money laundering and illicit threats to the U.S. financial system, citing the conduct of Russians backing the invasion of Ukraine as evidence of how loopholes are being exploited.
Treasury’s 32-page strategy document outlines recommendations to close loopholes in anti-money laundering laws, combat the use of real estate for money laundering schemes and enhance information-sharing between the government and private sector financial firms.
