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Insurance Laundering

NPR's Phillip Davis reports that federal investigators say international drug dealers use life insurance policies in the United States and offshore as a way to launder their money. They say millions worth of ill-gotten cash may have been moved through hundreds of policies, and that the insurance industry requires tighter regulation.

Copyright 2002 NPR

Phillip Davis
Correspondent Phillip Davis covers South Florida and beyond for NPR. He joined NPR in January 1993, and has reported on such topics as the Elian Gonzalez affair, the disputed 2000 presidential election, and the growing cultural diversity of South Florida. Davis has also filed reports from England, West Africa, and South America for NPR. His pieces can be heard on NPR's award-winning newsmagazines Morning Edition, Weekend Edition, and All Things Considered.