This paper explains that money laundering is a principal element in organized crime and in terrorism. The author points out
that, recently, the focus of federal law regarding money laundering has undergone drastic changes as
legislators think of it less in terms of the obfuscation of ill-gotten gains and more in terms of terrorism and national security. The paper relates the Enron and Worldcom banking scandals of late 2001 and 2002 also prompted legislators to review money laundering
legislation. Table of Contents Introduction Recent Developments Money Laundering and Terrorism The International Attempt to Combat Terrorism, Fraud and Criminal Activity Legislation since the RICO and the 'War on Drugs' Future Threats