Money laundering and terrorism financing are global problems that transcend national boundaries, and launderers and terrorists are constantly adapting their techniques to exploit vulnerabilities in the financial system to disguise the movement of funds.
The swift and near-simultaneous arrests late last month of 11 individuals allegedly preparing to bomb U.S. and other Western targets throughout Java, Indonesia's most populated island, should serve as a wake-up call to Asia's national security establishment, lawmakers and leaders. The foiled plot would have been just the latest in a flurry of terrorist activity by members of Islamist organizations, all of which are registered and legally sanctioned by the Indonesian government.
The security of many countries is being endangered by the United Arab Emirates, a confederation of seven small states located in the Arabian Peninsula. Usually considered a Western ally, this false friend also serves as a regional financial hub for mob figures, arms dealers, drug traffickers, jihadis, and rogue regimes. The White House and the Financial Action Task Force—set up by the G7 to combat money laundering and terrorism financing—have so far failed to take action to stop this emerging threat.
Following a 2-year investigation, U.S. prosecutors have submitted a mindboggling 30,000 pages of documentation and 2,000 recorded phone calls that paint an extensive picture of how one of Mexico's most powerful drug-trafficking organizations raises, moves and eventually washes its illicit funds.