Tag: FinCEN Files

Documents from the US Financial Crimes Enforcement Network (FinCEN) were leaked to the press and published globally in September 2020. The leak involved over 2,100 documents and around $2trn in transactions and showed how some of the world’s largest banks enabled criminals to move dirty money around the globe. A year on, has the industry been able to clean up its act?

In response to the FinCEN Files revealing that more must be done to fight money laundering, regulators around the world has snapped into action, which is welcomed by Sigma Ratings.

The European Council has removed the Cayman Islands from its list of non-cooperative jurisdictions for tax purposes. However, not everyone is happy about the decision.

Following the release of the FinCEN Files in September, RegTech Sigma Reporting shows how old risk ratings on financial crime are often static and out of date.