Financial Crimes Enforcement Network

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

Biden Administration Should Not Provide Sanctions Relief for Terrorism

As President Joe Biden looks to rejoin the 2015 Iran nuclear agreement, or Joint Comprehensive Plan of Action (JCPOA), Iran is likely to pressure the Biden administration to provide broad sanctions relief,...

Biden, Congress Should Defend Terrorism Sanctions Imposed on Iran

Hezbollah’s Global Threat

Iran

Why Biden’s Plan to Rejoin the Iran Deal Makes No Sense

This week’s escalation of tensions by Tehran looks like blackmail to force Biden to abandon sanctions—and give up leverage over the regime.

Designating Iran’s Financial Sector Would Not Impact Humanitarian Trade

According to an exclusive Bloomberg report this week, the Trump administration may be considering a sanctions designation of Iran’s financial sector in its entirety pursuant to Executive Order (E.O.)...

Iran’s Turkey-Based Sanctions-Evasion Scheme More Extensive Than Previously Reported

Iran’s sanctions-evasion schemes involving Turkey “started earlier, lasted longer, extended further, and involved more people and countries” than previously known, according to a series of deeply...

Hezbollah Finance in Lebanon

A Primary-Source Review

Time to Close the Legal Loopholes that Facilitate Russian Illicit Finance

It is long past time to close this gaping hole in America’s defenses against illicit finance and malign influence.