Justice Department Forms New Anti-Money Laundering Unit to Focus on Banks, Sophisticated Criminals

By Kieran Beer and Brian Monroe

The U.S. Justice Department has created a new unit within its anti-money laundering section to focus on criminal violations committed by financial institution employees and professional money launderers. The Money Laundering and Bank Integrity Unit will operate as part of the department's Asset Forfeiture and Money Laundering Section (AFMLS), said Assistant Attorney General Lanny Breuer Tuesday in a speech at the American Bankers Association's anti-money laundering (AML) conference in Washington, D.C. "The new unit will be devoted to investigating complex, national and international criminal cases," said Breuer, in the speech. Specifically, the group will focus on cases involving financial institutions,...