Financial institutions should be mindful of any number of strategies that retreating Islamic State fighters may employ to move their funds into and through the formal banking system as the terrorist group continues yielding ground in Iraq and Syria, say analysts.
Bankers and other financial services professionals have a role to play in tackling the epidemic of prescription-based opioid abuse in the United States, current and former law enforcement officials say.
Officials from U.S. government agencies and executives of the world's largest financial institutions comprehend their critical role in preventing terrorist groups from raising funds and are working together to achieve that objective, but more needs to be done, according to a U.S. lawmaker.
Islamic State's rise and ongoing crises in Syria and Iraq have increased the likelihood that terrorist groups will raise and move money through Southeast Asia and Australia, six nations said Wednesday.
In an ideal world for compliance officers, the finances of individuals plotting mass casualty attacks would exhibit enough anomalies to draw attention to their plans before they could carry them out, assuming such plans were made at all.
U.S. legislators on Tuesday voiced support for measures intended to restrict terrorist groups from profiting from the sales of cultural artifacts stolen from Syria.
The U.S. Treasury Department must deploy more personnel to developing nations to disrupt the flow of funds to Islamic State militants and other global terrorist organizations, lawmakers and congressional witnesses said Tuesday.
France will seek to implement the European Union's latest anti-money laundering directive by September, nine months ahead of a mandated deadline, according to a French official.
An intergovernmental watchdog will soon review how nations are contending with legal obstacles to sharing financial intelligence on terrorism as part of a broader effort to clamp down on militant funding.
Terrorist attacks in Europe over the past year have done more than spur talk of new rules from the EU. They've also prompted major financial institutions to adjust their compliance controls in an effort to root out terrorism's financial backers. Such has been the case for Western Union Europe.
EU finance ministers broadly endorsed a French plan to tackle terrorist financing ahead of the expected issuance in the coming weeks of related regulatory proposals by the European Commission.
The French government intends to move quickly to strengthen protections against terrorist financiers, including broadening investigatory access to data on suspected militants and toughening oversight of prepaid cards, a top official said Monday.
EU interior ministers on Friday will consider new steps to cut off financial flows to terrorist groups, including a proposal to create a bloc-wide database of bank accounts, according to sources.
U.S. financial institutions have identified funds potentially linked to last week's terrorist attacks in Paris, according to a top counterterrorism investigator with the FBI.
U.S. officials on Tuesday levied asset freezes and travel bans against 30 individuals and entities for joining the Islamic State or otherwise aiding the group's military operations and territorial expansion.
Representatives of over 20 nations meeting in Paris endorsed a plan to choke off international funding of Islamic State militants and prevent the organization from financing its growing cadre of foreign affiliates.
Turkey's vulnerability to illicit financiers has grown over the past year, in part due to its deepening economic relationship with Iran and turmoil along its southern border, say policy advocates.
U.S. efforts to disrupt Islamic State funding will focus on blacklisting its leadership, penalizing entities that help the group reap illegal profits and identifying co-opted bankers in Iraq and Syria.
Federal regulators and law enforcement agencies are using Bank Secrecy Act data to identify financial transactions tied to Islamic State, the Sunni terrorist group operating in Syria and Iraq.
Banks will find it difficult to identify the proceeds of illicit crude oil sales linked to Islamic State, the blacklisted terrorist organization now controlling a handful of Iraqi and Syrian oil fields.