September 2004

Chairman Shelby, Senator Sarbanes, and distinguished Members of the Committee, I appreciate the opportunity to appear before you to discuss the issues and challenges before us as we establish an effective and comprehensive anti-money laundering regulatory regime for two diverse and important sectors in the financial industry – money services businesses and casinos. We applaud your leadership Mr. Chairman, as well as the leadership of Senator Sarbanes and the other members of this Committee on these issues.

Chairman Shelby, Senator Sarbanes, and distinguished Members of the Committee, I appreciate the opportunity to appear before you to discuss the issues and challenges before us as we attempt to establish an effective and comprehensive antimoney laundering regulatory regime for two diverse and important sectors in the financial industry – money services businesses and casinos. Again, we applaud your leadership Mr. Chairman and the leadership of Senator Sarbanes and the other members of this Committee on these issues.

Let me say first how much I appreciate the opportunity to be part of the 22nd annual Cambridge International Symposium on Economic Crime. I am honored to share keynote responsibilities this morning with such a distinguished panel of luminaries. It is also great to have the opportunity to interact with the many other participants of this Symposium. It is often the case that the conversations that occur on the side at events like this are as important as the formal presentations.