That concern is exactly what motivated the FATF to upgrade their recommendations and their special recommendations so that member countries would have a strengthened regime, given some of the innovations that the criminal element has come up with. By putting those recommendations into our own regime through this act, we will again be in the top tier of international countries fighting terrorist financing and international money laundering. So the whole purpose of this bill is to make sure that any cracks are solidly filled in with cement.
On October 31st, 2006. See this statement in context.