Bankers & Law Enforcement Prepare for Increase in Financial Crimes On Guam

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Guam- Over 200 local and federal officials are training together at the first Bank Secrecy Act/ Anti-Money Laundering/ Financial Crimes: Bankers & Law Enforcement Conference at the Hilton hotel.

At Wednesday’s media event, U.S. Attorney Alicia Limtiaco and several representatives from banking institutions and law enforcement agencies spoke about working hand-in-hand to identify red flags and prevent financial crimes from happening. Guest speakers from the Federal Bureau of Investigation (FBI), Bureau of Alcohol, Tabacco, Firearms and Explosives (ATF), Secret Service, Internal Revenue Service (IRS), International Association of Financial Crime Investigators (IAFCI) and Bank of Guam (BOG) were also present. Limtiaco says they are preparing for the expected rise in financial crimes during the military buildup.

“This particular conference will provide training and improve upon the skill set of our law enforcement community, our regulatory personnel and our banking and financial industry personnel to be better able to identify to assist in investigations and prosecution of financial crimes” said Limtiaco.

Officials note procurement and contractor fraud is anticipated to increase in the construction phase of the buildup. The conference ends Thursday. Another one will be planned in the next couple of years.