WASHINGTON - A Senate panel plans to issue subpoenas today to about ten banks in connection with an ongoing money laundering probe.

The Senate's permanent subcommittee on investigations is seeking information on correspondent bank accounts held by certain foreign banks at these U.S. institutions, said an aide to Sen. Carl Levin of Michigan, the subcommittee's ranking Democrat. Sen. Levin, who introduced anti-laundering legislation last year, has been investigating parts of the financial system that are susceptible to criminals who want to disguise their proceeds as legitimate funds.

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