What was the name of the first multi-agency money laundering task force assembled?

Prepare for the Money Laundering Test. Study with flashcards and multiple-choice questions, each question includes hints and explanations. Get ready for your exam!

The first multi-agency money laundering task force was called Operation Greenback, which was launched in the 1980s in the United States. This operation marked a significant step in the fight against money laundering by bringing together various agencies, including the Drug Enforcement Administration (DEA), the Internal Revenue Service (IRS), and the Federal Bureau of Investigation (FBI), among others. The goal of Operation Greenback was to identify and disrupt the financial networks connected to drug trafficking and other illegal activities, thereby addressing the issue of money laundering on a broader scale.

The name "Greenback" refers to the U.S. dollar, which is often associated with money laundering activities due to its widespread use in global transactions. This operation laid the groundwork for future efforts to combat money laundering by emphasizing the importance of cooperation among different law enforcement agencies to effectively tackle complex financial crimes. The establishment of this task force set a precedent for subsequent initiatives aimed at disrupting money laundering operations and enforcing financial regulations.

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