Tag: FinCEN

Despite major investments in compliance and artificial intelligence (AI), financial institutions continue to face major challenges in detecting and preventing illicit financial flows. Chinese...

Identifying UBOs remains one of the most complex challenges in CDD. These individuals, who ultimately control or benefit from a legal entity, must be...

The Bank Secrecy Act (BSA), enacted in 1970, remains a cornerstone of the United States’ fight against financial crime. Its purpose is to ensure...

Fentanyl is one of the most lethal narcotics in circulation, and the funds that sustain its trade often slip past traditional financial crime controls....

Financial criminals are often flagged in the news long before they appear on sanctions or politically exposed persons (PEP) lists. Regulators worldwide—including FATF, FinCEN,...

Tax evasion remains one of the most costly crimes in the global financial system, depriving governments of an estimated half a trillion dollars every...

The risk-based approach (RBA) has become a central pillar of financial crime compliance worldwide, replacing outdated one-size-fits-all models with flexible frameworks that adapt to...

The Financial Conduct Authority (FCA) has put anti-money laundering (AML) failures firmly in its sights as part of its five-year strategy plan for 2025–2030....

Centralised oversight of anti-money laundering (AML) and counter-terrorism financing (CTF) is gaining traction as governments look to combat increasingly complex, cross-border financial crimes. According to...

Human trafficking and money laundering are two interlinked crimes that together enable vast networks of exploitation. With human trafficking generating billions in illicit revenue...