17. Iowa Financial Crimes Task Force
The Area Prosecutions Division of the Attorney General's Office and the Intelligence Bureau of the Iowa Department of Public Safety work together to address the problem of money laundering and other financial crime in Iowa. The Iowa Financial Crimes Task Force (FCTF) implements intelligence-led policing efforts to address money laundering in Iowa and coordinates money laundering investigation and prosecution efforts in the state. The FCTF also coordinates its efforts with other money laundering actions in other jurisdictions.
Money laundering is the process by which illegally-earned ("dirty") money, often in the form of cash generated by drug trafficking or other criminal conduct, is made to appear legitimate ("clean"). Among other things, money laundering distorts the economy, promotes negative role models and criminal activity, facilitates continuing criminal networks, and represents the weakest link in a criminal enterprise.
The FCTF conducts a money laundering threat assessment for Iowa, provides analytical and investigative support and prosecution efforts in state and federal court, and delivers training to local, state and federal government officials and private industry representatives.
The Financial Crimes Enforcement Network (FinCEN) has said that an effective money laundering response requires three components: access to financial intelligence from financial transaction reports, an effective money laundering law, and a designated team to investigate and prosecute violations related to money laundering offenses. The Iowa Financial Crimes Task Force provides the third prong in this approach to financial crime in Iowa.