Money Laundering and Foreign Corruption: Enforcement and Effectiveness of the Patriot Act - Supplemental Staff Report on U.S. Accounts Used by Augusto Pinochet

Publication

Money Laundering and Foreign Corruption: Enforcement and Effectiveness of the Patriot Act - Supplemental Staff Report on U.S. Accounts Used by Augusto Pinochet

Abstract

The Permanent Subcommittee on Investigations of the Senate Committee on Homeland Security and Governmental Affairs conducted an investigation into the role of Riggs Bank in assisting former Chilean President Augusto Pinochet launder money into the U.S. financial system. The Subcommittee reviewed countless financial reports and documents from Riggs Bank during the period in which they were involved with Pinochet. The report found Riggs Bank's relationship was more extensive than originally thought and Riggs' assistance was deliberate.