FT LAUDERDALE (CBSMiami/AP) – Government regulators, law enforcement and bankers are just a few of the groups represented at a conference on combating global money laundering which kicked off Monday in Hollywood.READ MORE: Miami Police Need Help Finding Missing Teen Mahogany Porter
The three-day event is sponsored by the Association of Certified Anti-Money Laundering Specialists. It comes amid an international controversy over leaked documents from a Panama law firm showing how offshore shell corporations are used to launder money from crimes such as drug trafficking and government corruption.READ MORE: Kendall Neighborhood Fights Back Against Planned Development On Norman Brothers Produce Property
The conference also coincides with a U.S. Treasury Department effort to more closely monitor large, cash-only real estate purchases in Miami and New York for money laundering activity. A senior Treasury official responsible for that initiative is set to speak Tuesday.
South Florida has long been a hub for international money laundering.MORE NEWS: Report: 25 AR-15 Rifles Missing From Miami Police Department's Inventory
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