{"id":9016,"date":"2008-11-02T00:00:00","date_gmt":"2008-11-02T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"money-laundering-risk-of-hedge-funds-gauged","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2008\/money-laundering-risk-of-hedge-funds-gauged.html","title":{"rendered":"Money-Laundering Risk Of Hedge Funds Gauged"},"content":{"rendered":"<p>Washington Post &#8211; Seven years ago the Patriot Act required every financial institution to establish a program to combat money-laundering. <\/p>\n<div>\n<p>But the roughly $2 trillion hedge-fund industry today remains free of any such government restrictions, and this week the Treasury Department formally withdrew its once proposed rules. <\/p>\n<p>&quot;Hedge funds do represent some risk because their operations and the identity of investors are generally not very transparent,&quot; said Steve Hudak, a spokesman for the Financial Crimes Enforcement Network of the Treasury Department. But &quot;that risk needs to be studied and carefully assessed prior to implementing any anti-money-laundering regulations.&quot; <\/p>\n<p>Hedge funds, which are largely unregulated investment pools whose investors are often wealthy individuals or sophisticated financial firms, have drawn increased scrutiny during the financial crisis. <\/p>\n<p><strong><a title=\"Read Complete Article\" href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2008\/10\/31\/AR2008103103210.html\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Washington Post &#8211; Seven years ago the Patriot Act required every financial institution to establish a program to combat money-laundering. But the roughly $2 trillion hedge-fund industry today remains free of any such government restrictions, and this week the Treasury [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1844,2796,707,2197,276,1107,1835,3138,1748,83,2341,511],"class_list":["post-9016","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-contagion","tag-dealer-operations","tag-december-31","tag-emirates","tag-fourth-quarter","tag-investment-risks","tag-kenneth-heinz","tag-law-experts","tag-law-professor","tag-medallion","tag-treasury-secretary","tag-uk-residents"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9016"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9016\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}