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U.S. unveils money laundering plan to seize foreign-held assets

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WASHINGTON, May 4 (RIA Novosti) - The U.S. Administration announced plans Thursday to expose and forfeit funds and assets illegally obtained by foreign senior officials and politicians and their families and business partners.

The 105-page strategy, drawn up by the Treasury, Justice and Homeland Security Departments, also pursues the goal of thwarting access for such officials to the international financial system.

In a preface to the document, heads of the three departments, Henry Paulson, Alberto Gonzales and Michael Chertoff, said the strategy was a response to the money laundering trends and technologies taking shape inside and outside the country.

The ministers said money laundering was a serious threat to the national and economic security, which spawns organized crime, feeds corruption and undermines trust in the supremacy of law.

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