The Nation - News from Nov. 5, 1985

The Justice Department asked Congress to make money laundering a crime, but the ACLU said the administration bill is a “serious threat” to civil liberties. Assistant Attorney General Stephen Trott told a Senate Judiciary subcommittee that the Bank Secrecy Act, which requires banks to report cash transactions of more than $10,000, is not enough to combat money laundering -- a growing problem for prosecutors trying to crack down on drug smuggling. The administration is pushing a money laundering bill to clamp down on the huge amounts of cash being funneled by the illegal drug trade through legitimate banking institutions.