A recent federal sentencing further unsealed the veil behind a money-laundering system that American authorities have identified as a major national security threat given the increasingly destabilizing nature of the business, as well as its close geographic proximity to the United States. Last week, a Chinese national was sentenced to 15 years in federal prison […]
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For years, the fight against human smuggling, that being the facilitation of illegal entry or movement of individuals illicitly for financial gain, has largely played out in areas where more traditional crime has often been affiliated: Along international borders, remote roads and back alleys, inside stash houses and in the vehicles used to transport migrants. […]
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Foreign bribery remains one of the most persistent threats to the integrity of today’s global financial system. As multinational corporations and financial institutions increasingly facilitate transactions involving foreign governments, politically exposed individuals, and billions of dollars in international capital, opportunities for corruption can emerge alongside legitimate commercial activity. In recent years, U.S. authorities have intensified […]
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For years, sanctions against long-time international opponents of the U.S.; a group including Iran, Russia, and North Korea, amongst others have focused heavily on restricting weapons development and illicit trade, while targeting the very financial networks which continue to provide a lifeline to these countries in wake of these stringent penalties. With respect to North […]
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For years, the United States and its international counterparts have struggled to answer one of the more fundamental questions surrounding cryptocurrencies: Who is responsible for regulating the digital asset markets? This ongoing lack of a clear regulatory jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC); the two […]
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Over the better part of the past two decades, anti-money laundering (AML) enforcement has continued to intensify across the globe. Regulators have moved away from viewing compliance failures as simply administrative shortcomings and increasingly treat them as systemic threats to national security given their capability to facilitate organized crime, sanctions evasion, corruption, terrorist financing, and […]
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The unsettled truce between the United States and Iran once again showed signs of fraying this past week as both nations exchanged accusations over ceasefire violations while simultaneously attempting to keep diplomatic negotiations alive. Renewed disputes over maritime security in the Strait of Hormuz, U.S. military strikes following attacks on commercial shipping, and the Trump […]
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For years, the United States’ battle against Mexican cartels has centered almost exclusively on drugs: cocaine in the 1980’s, methamphetamine in the 90’s and 2000’s, and, most recently, fentanyl; the synthetic opioid responsible for tens of thousands of American overdose deaths on an annual basis. Yet a recent series of actions announced by the U.S. […]
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A recent report from Europol, the European Union’s primary law enforcement and criminal intelligence agency confirms that organized crime is undergoing a profound transformation across the continent. No longer defined solely by rigid structures and territorial control as seen historically, today’s criminal enterprises have reportedly begun to increasingly resemble multinational corporations that can quickly adapt […]
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Fraud and money laundering are converging into one financial crime problem. From the AML Intelligence roundtable at the European Parliament: why prevention beats reimbursement, why responsibility is shifting to platforms, and what compliance officers should change now.
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