Financial Crimes Enforcement Network

Delaying the Effective Date of the AML/CFT Program and SAR Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers

5 Ways to Curb Iran’s Oil Exports to China

Better enforcement of the re-imposed snapback sanctions on Iran could have a decisive effect on its oil exports to China.

China’s money launderers are bankrolling America’s fentanyl epidemic

Money laundering isn’t new — and neither is China’s role in it. Millennia ago, Chinese merchants developed schemes to “clean” the profits of commercial trade and avoid taxation....

U.S. Severs Ties With Mexican Banks Enabling China-Fueled Fentanyl Trade

The war on fentanyl is entering a new phase. The U.S. Treasury Department moved decisively on June 25 against several Mexican financial institutions accused of laundering drug money and fueling the fentanyl...

U.S. Takes Aim at Enablers of Mexican Cartel Oil Smuggling

U.S. law enforcement is cracking down on Mexican cartels — but not in the way you think. In late May, the United States charged members of a Utah family with 1) conspiracy to materially support Mexico’s...

New Syria sanctions relief (and risks) explained

Firms relying on the recent wave of lifted sanctions and exceptive relief will face significant hurdles in verifying that transactions do not benefit excluded actors

Keep the Door Closed to Anonymous Shell Companies

A Comment on FinCEN’s Interim Final Rule Exempting Domestic Companies From Beneficial Ownership Reporting Requirements Under the Corporate Transparency Act (CTA)

Economic Statecraft and Advancing U.S. Interests Abroad

Modernizing U.S. Economic Statecraft

Treasury Report Highlights Role of Financial Transactions in America’s Fentanyl Crisis

The Trump administration is intensifying its efforts to resolve America’s fentanyl crisis. On April 9, the U.S. Department of the Treasury released a financial trend analysis of data linked to suspicious...

An Axis of Autocracy?

China’s Relations with Russia, Iran, and North Korea

Chinese Money Launderers’ Guilty Pleas Highlight China’s Role in America’s Fentanyl Crisis

Two Chinese-born individuals pleaded guilty last week to laundering tens of millions of dollars of drug proceeds in coordination with individuals in China and other countries. The case highlights the role...

How to Give Americans Back Control of Their Digital Identities

Putting data privacy first amounts to more than a technical upgrade; it will be nothing short of a strategic shift toward a more secure and resilient society.

Hamas’ Cryptocurrency Use Draws Attention to Terror Finance Enforcement Gaps

More than 100 Democratic and Republican members of Congress sent a letter to the White House last Tuesday urging the Biden administration to take action to stop terrorist organizations from raising funds...

Potential Consequences of FinCEN’s Beneficial Ownership Rulemaking

China in Our Backyard: How Chinese Money Laundering Organizations Enrich the Cartels

More than 100,000 Americans died from drug overdoses in the 12-month period ending in November 2022.1 The Biden administration noted that “most of these deaths are caused by illicit synthetic drugs like clandestinely manufactured fentanyl and methamphetamine, often in combination with other drugs, including cocaine and heroin.”2 These deaths increased during the Trump administration and continue to increase today. This is simultaneously a national and local challenge. More Americans die every two weeks on average from overdose deaths than died as a result of the September 11 terror attacks, making this both a national security and a public health crisis that requires bipartisanship to meet the challenge. 

The Underside of the Coin: Illicit Finance Risks in Virtual Assets

How American Lawyers and Accountants Help Fuel the War in Ukraine

These enablers are successful because U.S. law exempts them from the rules that make it hard for American banks to do business with criminals.

Treasury Sanctions Cryptocurrency Exchange, But International Enforcement Still Lacking

The U.S. Department of the Treasury in May sanctioned a major digital-currency mixer, Blender.io, which North Korea has used to launder $20.5 million in funds stolen from a gaming-focused blockchain project...

Consider Designating Russia as a Jurisdiction of Primary Money Laundering Concern

Senator Steve Daines (R-MT) last week called on the Treasury Department to designate a Russian bank and two related entities as institutions of “primary money laundering concern” (PMLC) under Section...

Taking Stock of China, Inc.: Examining Risks to Investors and the U.S. Posed by Foreign Issuers in U.S. Markets

Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets