Written testimony of U.S. ICE Homeland Security to U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History



Chairman Levin, Ranking Member Coburn, and distinguished members of the Subcommittee:

On behalf of Secretary Napolitano and Director Morton, thank you for the opportunity to appear before you today to discuss the efforts of U.S. Immigration and Customs Enforcement (ICE) to combat transnational criminal organizations (TCOs) and the illicit proceeds used to fund their criminal activities. With expansive investigative authority, ICE is well-positioned, in partnership with U.S. Customs and Border Protection (CBP), to disrupt and dismantle transnational criminal networks and terrorist organizations that seek to exploit our borders and America’s legitimate trade, travel, communications, and financial systems.

ICE’s expertise in combating TCOs that take advantage of vulnerabilities in the sea, air, and land environments has proven essential in countering the smuggling of narcotics, money, dangerous goods, people, and materials that threaten the well-being of the United States. Our law enforcement presence is global, and ICE’s Homeland Security Investigations (HSI) has a wide network of agents in Attaché offices at embassies and consulates worldwide, all working in concert to target TCOs.

Subtopics covered:

  • Illicit Finance and Bulk Currency
  • National Bulk Cash Smuggling Center
  • Operation Firewall
  • Cornerstone Outreach Initiative
  • Trade-Based Money Laundering (TBML)
  • Other Evolving Methods Including Prepaid Cards and Stored-Value Devices
  • Illicit Pathways Attack Strategy (IPAS)
  • Working with Mexican Authorities

Detailed testimony link: click here