I take it the events of the movie happened within a few days or even a week and there wasn't much time or evidence for the Feds or LAPD to get a full grasp on what was going down. Plus the U.S. government at the time was preoccupied with Communism and the drugs wars in Miami/South America.
An overweight Colombian bitch in Miami ran one of the largest cocaine smuggling rackets and hit squads for 10 years unnoticed. A Dutch a-hole with credentials isn't that much of a stretch to get by unnoticed.
The Feds knew money laundering was involved when Leo turned himself over as a witness, he never got to testify as to what he was involved in or who his clients were. Riggs and Murtaugh got lucky by being assigned to protect Leo, and the bad guys stupidly invaded Murtaughs house which gave away their accents.
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