Trade-Based Money Laundering

Foreword

My introduction to the name John Cassara 13 years ago created an early and instantly classic memory in my emerging career as a counter–illicit financing policy official at the U.S. Department of the Treasury. I was traveling through the Middle East on a Treasury mission to facilitate implementation of anti–money laundering (AML) systems and to explain and inform our evolving strategy to counter the financing of terrorism (CFT). Working with allies and other financial centers, the United States had recently fused many elements of the CFT strategy with global AML standards and was pressing for worldwide implementation as a collective security priority following the terrorist attacks of 9/11. After joining the Treasury mission only months before, I was both honored and a bit anxious participating in these pivotal discussions with experienced senior policymakers and AML/CFT practitioners from such a crucial region. On the margins of these discussions, and on more than one occasion, I was asked an unusual question: “Are you John Cassara?”

The clear respect, bordering on awe, with which the question was asked made the answer as disappointing as it was awkward. I returned to Washington with some frustration and abundant curiosity—who is John Cassara?

Upon my return, I quickly learned that being confused with John Cassara was a tremendous compliment. John's legendary status in the global financial investigative community at that time was mirrored by his reputation among peers ...