Joon H. Kim: Launder Proceeds of Crimes
on Thursday, May 18, 2017Joon H. Kim Money Quote saying as acting U.S. Attorney for Southern District of New York that Russian money laundering will not be tolerated. Joon H. Kim said:
“We will not allow the US financial system to be used to launder proceeds of crimes committed anywhere – here or in Russia” — Joon H. Kim
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Joon H. Kim is saying that the U.S. financial system will not tolerate being used to disguise or hide the source of money obtained through criminal acts, regardless of whether those crimes were committed in the United States or elsewhere in the world such as Russia.
The best interpretation is that U.S. authorities will not allow the laundering of illegally acquired funds through American banks and financial institutions, and this applies no matter where the underlying criminal offenses took place.
His statement aims to make it clear that those seeking to legitimize profits from illegal activities anywhere cannot rely on using the U.S. financial system to obscure the origins and nature of those funds.