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Yellen Says U.S. May Be the Best Place to Launder Dirty Money

  • U.S. anti-corruption efforts must start at home, she says
  • Nation can’t allow wealthy to ‘break our laws with impunity’
Janet Yellen
Janet YellenPhotographer: Al Drago/Bloomberg

Treasury Secretary Janet Yellen said the U.S. must fight money-laundering and tax evasion at home if it wants to promote anti-corruption efforts throughout the world.

“The United States cannot be a credible voice for free and fair government abroad if, at the same time, we allow the wealthy to break our laws with impunity,” Yellen said in the text of remarks she’s scheduled to deliver Thursday. “If we want free institutions to thrive the world over, then first, we must model what they look like at home.”