{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: CRACKDOWN ON DRUG MONEY LAUNDERING' data-url='/boclips/videos/5c54bc43d8eafeecae12b553' data-video-url='/boclips/videos/5c54bc43d8eafeecae12b553' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: CRACKDOWN ON DRUG MONEY LAUNDERING\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/Nat In Washington the Treasury Department has warned companies in the U-S of a crackdown on a widespread drug money-laundering scheme involving purchases of American products for export to Colombia. Witnesses, including an...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat \u003cbr/\u003eIn Washington the Treasury Department has warned companies in the U-S of a crackdown on a widespread drug money-laundering scheme involving purchases of American products for export to Colombia. \u003cbr/\u003eWitnesses, including an anonymous and hooded money launderer say the black-market peso exchange system  launders an estimated five billion (b) dollars a year in drug profits.\u003cbr/\u003eAnd is squeezing out legitimate businesses in Colombia.\u003cbr/\u003eIt wasn't business as usual in the United States Congress on Monday.\u003cbr/\u003eA key witness before the Senate Caucus on International Narcotics Control was a hooded, anonymous figure, referred to as \"Carlos\".\u003cbr/\u003eHe told lawmakers how, as a broker in the black-market, he helped launder drug money.\u003cbr/\u003eHe did this by buying products from major corporations, including Sony, Whirlpool, Kodak and General Electric.\u003cbr/\u003eThe hearing was chaired by Republican Senator Grassley. \u003cbr/\u003eIt is looking into how the black-market exchange with Colombia works.\u003cbr/\u003eWhat is now known is that it developed as a way for money launderers to  carry out large financial transactions without drawing attention.\u003cbr/\u003eCarlos' voice is muffled to protect his identity.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"If you really want to stop the black market, you can do it, I would say today. But if you reduce drastically those tariffs and the taxes, it will last about a month, and everybody will become legal.\"\u003cbr/\u003eSUPER CAPTION: \"Carlos\", Anonymous Peso Broker\u003cbr/\u003eCarlos and Colombian peso brokers act as middlemen in the money-laundering scheme and give Colombian importers I-O-Us in exchange for pesos. \u003cbr/\u003eThe pesos are then used to buy U-S dollars from drug cartels.\u003cbr/\u003eThis provides the cartels with clean currency.\u003cbr/\u003eThe brokers then use the dollars to purchase goods from American companies and smuggle them into Colombia.\u003cbr/\u003eBy doing this, the importers avoid government tariffs and taxes on foreign currency exchanges.\u003cbr/\u003eTreasury Undersecretary James Johnson says the peso exchange system is one of the largest avenues for laundering the profits from drug sales.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"This system is perhaps the most dangerous and damaging form of money laundering that we have ever encountered.\"\u003cbr/\u003eSUPER CAPTION: James Johnson, Under Secretary for Enforcement, U-S Department of the Treasury\u003cbr/\u003eJohnson says household appliances and cigarettes are some of the products most commonly involved in these illegal trade schemes. \u003cbr/\u003eAnd that major U-S corporations may be participants, either knowingly or unwittingly. \u003cbr/\u003eAnd he says the long arm of the law will prosecute those companies that are found to be engaging partners in the drug laundering market.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"So that if there are those who are out there that are facilitating this, willingly facilitating this criminal enterprise, this criminal system, they should know that we will be vigilante and were intending to pursue this matter with a great deal of vigour. \"\u003cbr/\u003eSUPER CAPTION: James Johnson, Under Secretary for Enforcement, U-S Department of the Treasury\u003cbr/\u003eAlso testifying on Monday was former Ambassador Skol and analyst on laundering issues in Latin America.\u003cbr/\u003eHe says the dangers of black market contraband money laundering are little known and therefore not acted upon by those outside the business enforcement community.\u003cbr/\u003eHe points to American businesses as having the responsibility of knowing who \"their customers, customers are\".\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"But there is also, in my opinion, a business ethics responsibility for the free market, for the private sector community, the business community in the United States not to undermine, actively undermine in any way the business community in another country which is trying to make a buck - legitimately, if it possibly can.\"\u003cbr/\u003eSUPER CAPTION:  Michael Skol, former Ambassador and President, Skol and Associates\u003cbr/\u003eAlso testifying was a leading figure in the customs division of the Colombian government.\u003cbr/\u003eShe believes the black market peso exchange system is a universal problem and that Colombia needs U-S help in financial and administrative matters to choke the system. \u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"So I think as long that as long narcotic trafficking exists, there will be contraband. Because there is always the economic incentive to launder this money through this mecanism.\"\u003cbr/\u003eSUPER CAPTION: Fanny Kertzman, Director General of Taxes and Customs, Government of Columbia.\u003cbr/\u003eThe U-S Department of Treasury plans to launch a campaign to educate exporters about the problem.\u003cbr/\u003eCompanies will be encouraged to watch for signs that a customer might be using illegal funds, such as paying for an order with checks or bank drafts issued by a third party - unrelated to the transaction.\u003cbr/\u003eWashington, D-C, U-S - 21 June 1999\u003cbr/\u003e1. \"Carlos\", an anonymous peso broker walks in\u003cbr/\u003e2. Cutaway Senator Charles Grassley and Senator Jeff Sessions\u003cbr/\u003e3. Cutaway Senator Charles Grassley, Chairman of the Senate Caucus on International Narcotics Control\u003cbr/\u003e4. SOUNDBITE: (English) \"Carlos\", Anonymous peso broker\u003cbr/\u003e5. Cutaway of Fanny Kertzman (woman- right front row) director general taxes and customs, Government of Colombia\u003cbr/\u003e6. Medium shot James Johnson, Under Secretary for Enforcement, U-S Department of the Treasury\u003cbr/\u003e7. SOUNDBITE: (English) James Johnson, Under Secretary for Enforcement, U-S Department of the Treasury\u003cbr/\u003e8. Wide shot Senators Grassley and Senator Sessions\u003cbr/\u003e9. SOUNDBITE: (English) James Johnson, Under Secretary for Enforcement, U-S Department of the Treasury\u003cbr/\u003e10. Wide shot Ambassador Michael Skol and Fanny Kertzman\u003cbr/\u003e11. SOUNDBITE: (English) Ambassador Michael Skol\u003cbr/\u003e12. Medium shot Kertzman and Skol\u003cbr/\u003e13. Medium shot Kertzman and Skol testifying\u003cbr/\u003e14. SOUNDBITE: (English) Fanny Kertzman, Director General of Taxes and Customs, Government of Colombia\u003cbr/\u003e15. 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