The US$11 trillion US private investment industry presents major national security and corruption threats and represents a gaping hole in the country’s anti-money laundering (AML) framework according to a joint report released yesterday by the Financial Accountability and Corporate Transparency (FACT) Coalition, Global Financial Integrity and the Transparency International US Office.

The report, Private Investments, Public Harm, says this makes the US an attractive destination for illicit financial flows (IFFs), sometimes facilitated by trade-based money laundering (TBML).

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