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The Editors

Biden’s Baby Steps on Dirty Money

The administration is moving in the right direction, but the U.S. is still a haven for ill-gotten gains.

Switzerland on the Big Sioux.

Switzerland on the Big Sioux.

Photographer: Dan Brouillette/Bloomberg

President Joe Biden’s administration has a message for the world: After many years of inaction, the U.S. is finally ready to do its part in the global fight against tax evasion, money laundering and terrorist financing.

The sentiment is welcome, but a lot more action is needed.