Forcing discreet money into the open. (bank accounts with money from criminal operations)

No one likes to talk about it, but handling discreet money generated by criminal operations has been a growth area for banks. Now there is a threat to their business. New legislation, better co-operation among enforcement agencies and a flurry of mutual assistance treaties have at least a fighting chance of denting the money-laundering game.

“Handling discreet money has been a booming business for banks,” said Stephen Trott, assistant attorney general in the US Justice Department in Washi”But in the last five years wave negotiated anetwork of co-operative agreement all over the world aimed at cleaning up international banking.