FinCEN Alert – Bulk Cash Smuggling and Repatriation Schemes

by James | Apr 1, 2025 | Money Laundering, Regulatory, Trafficking, Transnational Crime

The U.S. Treasury’s FinCEN has issued a high-priority alert (FIN-2025-Alert001) concerning bulk cash smuggling and repatriation schemes orchestrated by Mexico-based transnational criminal organizations (TCOs). These cartels are increasingly leveraging...

Designating Cartels and Other Organizations as Foreign Terrorist Organizations and Specially Designated Global Terrorists

by James | Feb 8, 2025 | Regulatory, Sanctions, Terrorist Financing

U.S. President Donald J. Trump has issued an executive order (E.O. 14157) on January 20, 2025 to classify certain international criminal cartels and transnational organizations as Foreign Terrorist Organizations (FTOs) or Specially Designated Global Terrorists (SDGTs)...

FinCEN Alert to Financial Institutions to Counter Financing of Hizballah and its Terrorist Activities

by James | Nov 12, 2024 | Money Laundering, Payments, Regulatory, Terrorist Financing

The Financial Crimes Enforcement Network (FinCEN) has issued an alert (FIN-2024-Alert003) to help financial institutions detect and report financing activities linked to the Iran-backed Lebanese militia and designated Foreign Terrorist Organization (FTO), Hizballah....

Wells Fargo and Key Issues Highlighted in the Extensive AML Enforcement Order

by James | Sep 13, 2024 | Banking, Regulatory, Sanctions, Technical Compliance

The Office of the Comptroller of the Currency (OCC) has published an AML sanctions consent order for Wells Fargo, highlighting substantial compliance challenges that remain. The comprehensive 28-page order outlines several critical areas requiring attention, including...

FinCEN Releases Comprehensive Report on Mail Theft-Related Check Fraud

by James | Sep 9, 2024 | Fraud, Regulatory

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a comprehensive Financial Trend Analysis (FTA) on check fraud connected to mail theft, based on Bank Secrecy Act (BSA) data filed in the six months following FinCEN’s 2023...