Reporting, discovering, and researching drug trafficking SARs is hindered by the lack of a drug trafficking SAR checkbox.
Drug Trafficking
9 posts
A recent VICE article on human smuggling and migrant kidnapping quotes DSA president, Alison Jimenez.
The Wall Street Journal published an article that extensively cited Dynamic Securities Analytics analysis of the impact of the coronavirus pandemic on SARs.
Dynamic Securities Analytics' 2020 SAR Insights focuses on the interplay between COVID-19 and Suspicious Activity Reports filed by Depository Institutions.
Several key threats including Drug Trafficking, Organized Crime and Tax Evasion do not have SAR category checkboxes. SAR data is only "useful" to government authorities inasmuch as it is discoverable. Structured data is more easily searchable and will lead to improved AML effectiveness.
The overwhelming majority of laundered funds originate from income tax evasion, yet there is no corresponding SAR category.
There is a complete disjoint between what financial institutions are asked to report, what they do report, and national illicit finance priorities.
