September 11, 2019

Cassidy Set to Speak on Panel of Experts on Trade-Based Money Laundering

WASHINGTON– U.S. Senator Bill Cassidy, M.D., (R-LA) announced today he will participate in a panel of experts at George Mason University to discuss the hijacking of international trade networks by cartel and terrorist organizations to transfer funds across international borders, thus circumventing traditional, monitored banking systems. This practice is commonly known as trade-based money laundering (TBML). 

The event will take place on September 18 and will feature Dr. Cassidy, and other public and private officials committed to solving this national security crisis. 

“Cartels and terrorists are moving billions of dollars unchecked to fund their violent organizations. Trade-based money laundering is America’s biggest national security threat that almost no one is paying attention to,” said Dr. Cassidy. “In order to solve this crisis, we need to bring it into the national conversation. This conference elevates the issue.”  

Cassidy released his white paper addressing TBML as a top national security concern in September. The white paper outlined TBML as a threat which ties together drug trafficking, terrorism, and dangerous counterfeit consumer products. 

This Congress, Cassidy introduced a bipartisan bill to combat money laundering and terrorism by expanding the capacity of the Financial Crimes Enforcement Network (FinCEN). FinCEN recently announced the formation of a unit focused specifically on money laundering on a global scale – Cassidy voiced support 

Cassidy commends George Mason University on the formation of the Anti-Illicit Trade Institute of Terrorism, Transnational Crime and Corruption Center (TraCCC), the “first center in the United States to devoted to understanding the links among terrorism, transnational crime and corruption, and to teach, research, train and help formulate policy on these critical issues,” (