News
Direct Communication with Investigators is ‘Invaluable,’ Says ICE Official
printPersonally letting law enforcement agents know about clients' questionable activity can be crucial to identifying money launderers, according to Hector Colon, unit chief of the Illicit Finance and Proceeds of Crime Unit of Homeland Security Investigations (HSI) at U.S. Immigration and Customs Enforcement (ICE). Calling investigators can insure that law enforcement gets involved and takes a look at activity that may require immediate attention, he said, adding that "human communication is invaluable" to helping investigators to detect crimes and identify co-conspirators. Colon, who has worked for ICE HSI for 15 years, spoke with reporter Larissa Bernardes about HSI's initiatives and...
TO READ THE FULL STORY
Related News
Federal law enforcement agencies will ask multiple financial institutions next week to take part in a pilot program intended to improve how banks identify suspicious clients and communicate with investigators.
Mexico has lost as much $91 billion per year to capital flight associated with tax evasion and corruption during the last decade, according to a report by an American advocacy group.
Displeased with proposed regulations, federal and state law enforcement officials are asking lawmakers and the U.S. Treasury Department to strengthen controls on the cross-border movement of prepaid access products.
Key features of an anti-money laundering strategy to combat drug trafficking organizations pitched last year by Mexican officials may ultimately be dropped by lawmakers, say industry advisors.
Restricting transfers between unrelated individuals and requiring IDs to load value are among over a dozen ways financial institutions can limit compliance risks with prepaid access products, an association of banks said Friday.
The U.S. Treasury Department Tuesday prescribed new compliance rules on the prepaid product industry, a sector largely unregulated despite concerns about its vulnerability to money launderers.
American officials are investigating whether banks accepting cash declared by individuals entering the United States from Mexico are filing regulatory reports with the U.S. Treasury Department, say compliance professionals.
Concerns about drug cartel money smuggling could shape expected U.S. Treasury Department compliance rules on how companies should treat stored value cards, according to investigators.
The rise of violence tied to drug and weapons trafficking along the U.S.-Mexico border has drawn political attention to a perennial problem in the world of anti-money laundering: cash smuggling.
New York HIFCA director discusses the importance of well written SARs and the organization's efforts to bridge the communication gap between the financial sector and law enforcement.