HOUSE_OVERSIGHT_024117.txt

The document discusses the differences between money laundering and terrorist financing, with the former involving disguising funds from illegal activity to use them without detection, while the latter involves using legally derived money for illegal activities. It also touches on how these two are approached differently in terms of combatting them. Key U.S. laws and regulations related to combating both money laundering and terrorist financing include the Bank Secrecy Act of 1970 (BSA) and the Uniting and Strengthening America by Providing Appropriate Tools Required to lntercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act).