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| U.S. Senate Gives More Powers to Police for Fighting Terrorism |
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FRI, OCT 12, 2001
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The U.S. Senate on Thursday night approved a bill to give the law-enforcing forces more powers to fight terrorism.
The legislation included toughening laws against money laundering, which may have connections with terrorism, drug trafficking or organized crime.
The bill will bar U.S. banks from dealing with shadowy foreign "shell" banks and require them to more closely review the so- called correspondent accounts they maintain for other foreign counterparts.
Under it, the U.S. Treasury is also given new powers to target foreign countries or banks deemed to present a major money- laundering threat, and it can ask U.S. banks to keep detailed records of dealings with those institutions or ban U.S. banks to do business with them.
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