Nydia M. Velazquez: “second, I want to express my concern over language included in the report accompanying the Treasury-Postal…”

“second, I want to express my concern over language included in the report accompanying the Treasury-Postal appropriations bill. On page 12 of the report, in the section explaining the committee's recommendations for funding the grant program, the committee has included language about the National Money Laundering Strategy and the grant program that I find troubling. The committee's concerns about adequate program oversight are laudable; however, some of the language used in the report mischaracterizes the intent of the national strategy, the grant program and the authorizing legislation. Some of the language in this section of the report could be interpreted as calling into question the appropriateness of the grant program for State and local law enforcement officials to combat money laundering. The committee expresses concern that the strategy will focus the fight against money laundering solely in local geographic areas. I want to respond to that concern and explain the intent of my 1998 legislation and the grant program. Currently, counter-money laundering funding is concentrated at the Federal level. The intent of the authorizing legislation in question, the Money Laundering and Financial Crimes Strategy Act of 1998, is to foster cooperation between State, local, and Federal law enforcement officials.”