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The State of Financial Crime 2024: Download our latest research

The Americas

More than a year after the US Office of Foreign Assets Control (OFAC) designated Garantex for facilitating illicit activity, the Russian crypto exchange is enjoying higher profits than ever, according to research by the Wall Street Journal (WSJ). According to […]

The US Office of Foreign Assets Control (OFAC) has designated 27 China-based entities and individuals involved in a drug trafficking network that globally distributed tons of synthetic drugs and their precursors, including fentanyl. The sanctions also designated one other individual […]

The US Financial Crimes Enforcement Network (FinCEN) has proposed extending some companies’ final beneficial ownership information (BOI) reporting deadlines. The amendment would change the initial reporting deadline for firms created or registered in 2024 from 30 to 90 days. The […]

Spokespersons for the Southern District of New York and the Federal Bureau of Investigations (FBI) have announced multiple corruption-related charges against Senator Robert Menendez (Menendez), his spouse Nadine Menendez (Nadine), and three others. The unsealed indictment alleged that Menendez offered […]

Credit unions’ operations put them in a similar financial crime risk category as banks. It is therefore of utmost importance that these firms fully understand their risks and associated obligations for anti-money laundering and counter-terrorist financing (AML/CFT) under federal law. […]

In the past, businesses created in the United States were not obliged to publicly disclose or maintain a record of the names of their shareholders or ultimate beneficial owners (UBOs). This lack of transparency meant it was possible for anonymous […]

To enhance the fight against sanctions violations, the US Financial Crimes Enforcement Network (FinCEN) has announced a Financial Trend Analysis (FTA) highlighting critical trends for Russian export controls sanctions evasion. The patterns came from Bank Secrecy Act (BSA) suspicious activity […]

76 percent of firms say complicated and lengthy processes lead them to give up onboarding a financial service or product. This infographic explores three ways firms can improve their KYB processes to deliver a better customer experience and reduce onboarding times.

Since 2017, many US financial institutions (FIs) have relied on the Automated Clearing House (ACH) or The Clearing House (TCH) Real-Time Payment Network rails for their payment transactions. However, given that TCH is privately held by some of the world’s […]