News & Analysis as of August 3, 2025

Financial Crimes

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Key Measures for Mexican Entities to Prevent FinCEN Scrutiny

Foley & Lardner LLP on 7/31/2025

The recent Orders issued by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) on June 25, 2025, designating CIBanco, Intercam, and Vector as institutions of primary money laundering concern,...more

Risks Increase As U.S. Escalates Pressure Against Mexico With Regulatory Focus On The Financing Of Fentanyl

K2 Integrity on 7/29/2025

The evolving U.S.-Mexico geopolitical relationship is now fundamentally burdened by the growing regulatory, enforcement, and real risks tied to cartel activity, drug trafficking and the fentanyl trade, immigration, and a...more

Credibly Challenged Podcast: Interview with Ross Delston, Financial Crime Compliance Expert and Former FDIC Attorney

Mayer Brown on 5/9/2025

Matt Bisanz interviews Ross Delston, a financial crime compliance expert and former FDIC attorney. They discuss his views on the trends we should expect to see in financial crimefighting and AML compliance over the next few...more

Anti-Money Laundering Enforcement Risk Still Remains for Virtual Asset Services Providers

Paul Hastings LLP on 4/7/2025

Despite the Trump administration’s generally favorable stance toward cryptocurrency and blockchain innovation, virtual asset services providers (VASPs) must remain vigilant in complying with anti-money laundering (AML)...more

US Designation of Cartels as Terrorist Organizations Increases Risk of Doing Business in Mexico

Morgan Lewis on 3/25/2025

Recent US government actions indicate a possible increase in US financial crimes investigations and enforcement targeting drug cartels and transnational criminal organizations in Latin America....more

10 Keys to Conducting an Effective AML/BSA Audit in 2025

Oberheiden P.C. on 2/12/2025

Financial institutions need to remain vigilant about managing anti-money laundering and Bank Secrecy Act (AML/BSA) compliance in 2025. As the financial ecosystem becomes increasingly complex, and as transactions increasingly...more

Quality Control Unveiled: Insights from Transaction Monitoring

Ankura on 2/12/2025

Ensuring high-quality standards in any organization is an essential ingredient that must be rooted within a company’s Quality Management Program (QMP) – a program that creates a framework to ensure quality....more

What Is an “Effective AML/CFT Compliance Program”?

Perkins Coie on 8/23/2024

The Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies recently published the long-awaited notice of proposed rulemaking for the anti-money laundering/countering the financing of terrorism...more

Treasury Issues Request for Information on Use of AI in Financial Services

Ballard Spahr LLP on 6/17/2024

The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”). Written comments are...more

The Challenge of Transparency in Preventing Financial Crime: Navigating Financial Integrity in a Changing Risk Landscape

K2 Integrity on 12/20/2023

The landscape of financial crimes is constantly evolving, and the concept of transparency is being fundamentally challenged. A dynamic, innovative approach is imperative to preserve and shape the future of financial...more

Troutman Pepper Weekly Consumer Financial Services Newsletter - December 2023 # 2

Troutman Pepper Locke on 12/13/2023

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

FinCEN Issues Alert for Financial Institutions on Red Flags for “Pig Butchering” Schemes

Troutman Pepper Locke on 9/13/2023

On September 8, the Financial Crimes Enforcement Network of the U.S. Department of Treasury (FinCEN) issued an alert warning financial institutions to be vigilant against a prominent virtual currency investment scam called...more

FinCEN offers suspicious activity reporting guidance for human smuggling along U.S.- Mexico border

Orrick, Herrington & Sutcliffe LLP on 1/20/2023

On January 13, the Financial Crimes Enforcement Network (FinCEN) issued an alert advising financial institutions on how to detect and report suspicious financial activity that may be related to human smuggling along the...more

U.S. Authorities Amplify Enforcement Efforts to Address Financial Crime Risks in the Digital Asset Industry

K2 Integrity on 10/26/2022

The United States Department of the Treasury has continued to signal that it will focus policy, regulatory, and enforcement attention on the financial crime and sanctions risk in the crypto and digital asset ecosystem...more

FinCEN Announces Anti-Money Laundering Priorities

McDermott Will & Emery on 7/19/2021

The Financial Crimes Enforcement Network (FinCEN) recently issued its government-wide anti-money laundering (AML) and countering the financing of terrorism (CFT) priorities (AML/CFT priorities). FinCEN issued the AML/CFT...more

Agencies Request Information To Assist With BSA Laws And Regulations Compliance

Foodman CPAs & Advisors on 5/6/2021

On April 9, 2021, the federal banking regulatory agencies (the Federal Reserve, FDIC and OCC) together with FinCEN and the National Credit Union Administration issued a joint statement addressing how risk management...more

Human Trafficking and Banking: What Compliance Officers Need to Know

K2 Integrity on 1/27/2021

Human trafficking is a global crisis that has an impact on lives around the globe. Over time, there have been many initiatives taken by governments and nonprofits to identify and help victims while promoting enhanced...more

FinCEN Issues Human Trafficking Advisory (Part II of II)

The Volkov Law Group on 11/17/2020

Human traffickers, like all criminals, rely on the international financial system to facilitate their crimes and to disguise proceeds from their illegal activities. Traffickers open bank accounts to deposit and launder...more

Cybersecurity and Fraud Risks for Fund Managers in the Wake of Coronavirus

Proskauer - The Capital Commitment on 3/24/2020

COVID-19 has created many new concerns for private fund managers; however, managers should be particularly mindful of heightened cybersecurity and fraud risks. With increased numbers of employees teleworking, there are...more

China Emerging as an Increasing Driver of Global Illicit Finance Risk

K2 Integrity on 11/19/2019

Growing Chinese illicit finance threats, vulnerabilities, and exposure are combining to increase illicit financing risk in the international financial system, judging from a series of recent advisories, sanctions actions,...more

FinCEN Advisory Highlights Money Laundering Risks Related to Fentanyl Trafficking

Ballard Spahr LLP on 8/30/2019

On August 21, 2019, FinCEN issued an advisory (the “Advisory”) alerting financial institutions to various financial schemes and mechanisms employed by fentanyl and synthetic opioid traffickers to facilitate the illegal...more

A Winning Anti-Money Laundering Strategy: Strengthen Your Defense Against Financial Crimes

K2 Integrity on 1/15/2019

The stakes are high in combating global financial crime. If criminals succeed in hiding ill-gotten gains, they can continue to commit crimes and finance terrorism. ...more

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