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Oklahoma Senate
Senate OKs Measure to Prevent Money Laundering by Mexican Meth Dealers
Sen. Jay Paul Gumm
State Senators Monday approved a measure to reduce the flow of methamphetamines into Oklahoma by cutting off the cash flow that allows drug dealers to smuggle “Mexican Ice” into the state.
Senate Bill 1664 by Assistant Majority Leader Jay Paul Gumm passed the Senate by a 47-0 vote.
“This bill will identify and prevent money laundering and other financial crimes connected to drug trafficking and terrorist funding,” said Gumm, a Democrat from Durant. “By singling out those who assist these dangerous drug dealers in their crimes and cutting off their money, we are hitting them where it really hurts.”
The measure requires companies that offer wire transfers of money to register with and be licensed by the Oklahoma Banking Department. It further allows the Oklahoma Banking Commission to share information with other state agencies, including the Oklahoma Bureau of Narcotics and Dangerous Drugs and the Oklahoma State Bureau of Investigation.
