This is the second article–Teen Sextortion Victim Payments– in a five-part series on the financial […]
Transnational Organized Crime
15 posts
This series focuses on the financial mechanisms used to obtain and launder illicit proceeds of financially motivated sextortion of minors.
The theory that cryptocurrency traceability will deter and thwart criminals is based on numerous unsound assumptions.
Criminals who need to move large amounts of value far, fast, irreversibly, anonymously, and to a third party are most likely to see crypto as the financial product that meets their needs.
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.