Illicit finance occurs both within and by crypto exchanges as demonstrated by the recent criminal actions against SBF, Binance, and CZ.
FinCEN
76 posts
Summary: DSA analyzed nine Crypto Suspicious Activity Report enforcement actions to identify common reasons for […]
Summary: The portion of law enforcement 314(a) requests involving money laundering has increased in recent […]
Alison Jimenez was quoted in a MoneyLaundering.com article regarding FinCEN's advisory on Human Smuggling.
After years of neglect, it appears that Human Smuggling financing is a priority to government agencies. Human Smuggling Suspicious Activity Reports (SARs) filed by MSBs have skyrocketed since mid-2021 while banks' filings have remained flat. FinCEN issued then deleted a Human Smuggling Alert on 12/16/2022.
Weaponized KYC is when organizations collect KYC information and then use the data to inflict harm on customers.
Reporting, discovering, and researching drug trafficking SARs is hindered by the lack of a drug trafficking SAR checkbox.
DSA identified key trends in foreign corruption and kleptocracy Suspicious Activity Reports filed between January 2019 and March 2022.