Nydia M. Velazquez: “the explosion of finance crimes, money laundering, credit card fraud and counterfeiting is draining our communities of…”

“the explosion of finance crimes, money laundering, credit card fraud and counterfeiting is draining our communities of valuable resources. For that reason, I introduced H.R. 1756, the Money Laundering and Financial Crimes Strategy Act. Under this bill Federal, State, and local law enforcement agencies will at last be able to coordinate their efforts to combat this rising criminal tide. The effect of this criminal activity is chilling. In my district there is a section of Roosevelt Avenue in Jackson Heights, Queens, that prosecutors and investigators call Ground Zero. That neighborhood is home to many hard-working families. It is also an area where an exploited wire transfer industry sends up to $1.3 billion in illegal drug money abroad. My colleagues, the effects of these crimes reach far beyond New York, Texas, California. Yet Congress has done little. As a partner in this war, it is time for Congress to send a clear message to these criminal organizations by cosponsoring H.R. 1756.”