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To: cypherpunks@toad.com
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Raw Date: Sun, 21 Jan 1996 15:40:59 +0800
From: cpunk@remail.ecafe.org (ECafe Anonymous Remailer)
Date: Sun, 21 Jan 1996 15:40:59 +0800
To: cypherpunks@toad.com
Subject: E-Cash and the Treasury Department
Message-ID: <199601201435.OAA19801@pangaea.hypereality.co.uk>
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[POSTED BY: PUBLICUS ANONYMOUS
("Oh! That Publicus.")
("Oh! That Anonymous.")
INTELLIGENCE
N. 269, 24 July 1995
(Vol. 16, N. 15)
Publishing since 1980
Editor
Olivier Schmidt
Intelligence, N. 269, 24 July 1995, p. 11
RONALD K. NOBLE - U.S.A.
This time the U.S. Treasury Department hasn't jumped the
gun in announcing that Ronald K. Noble, the hard-line
Undersecretary for Enforcement at Treasury, was the new
chairman of the Financial Action Task Force on Money Laundering
(FATF) set up in Paris by the G-7 group of industrialized
nations in 1988. Last year at this time, the Netherlands took
over the chair but U.S. Treasury wrongly issued an announcement
that Noble was occupying the post. Asked by "Intelligence" for
an explanation, Treasury simply stated that it had "made a
mistake." Last year in Washington, Noble backed bankers
complaining about the several million Currency Transaction
Reports (CTR) they were required to file every year. Noble and
the banks said that filing was not necessary on deposits by
businesses like department, grocery and convenience stores that
routinely make fluctuating large deposits in cash, and Treasury
intended to slash CTR filings by 30 percent. Critics contend
that businesses exempt from CTR filing will quickly be used by
criminal organizations to launder their cash.
As Undersecretary for Enforcement at Treasury, Noble
oversees five of the eight largest federal law enforcement
agencies in the U.S.: the Secret Service, U.S. Customs, the
Bureau of Alcohol, Tobacco and Firearms (ATF), and the IRS
Criminal Investigation Division, and the Financial Crimes
Enforcement Network (FinCEN) which was taken over by Treasury's
Office of Financial Enforcement under Noble last year at this
time. At the FATF, Noble replaced Leo Verwoerd of the
Netherlands on 1 July 1995 and will direct the FATF for one
year. Following last year's resolution to "monitor
implementation of the forty Recommendations of 1990 by its
members," Noble intends to use forceful methods including open
criticism in annual FATF reports of non-complying members,
followed by written reprimands from the FATF chairman to
recidivist member countries, and finally high-level mission
visits to the faulty country. Greece has already been
criticized twice for its lack of progress in implementing FATF
recommendations.
.
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1996-01-21 (Sun, 21 Jan 1996 15:40:59 +0800) - E-Cash and the Treasury Department - cpunk@remail.ecafe.org (ECafe Anonymous Remailer)