News

FBI, Banks Tracking Russian Funds Through ‘FinCEN Exchange Program’

By Valentina Pasquali

U.S. investigators over the past eight months have regularly shared Russian transactional data with banks through a new program run by the Treasury Department's Financial Crimes Enforcement Network. Under the "FinCEN Exchange Program," anti-money laundering compliance officers and FBI officials discuss the specific strategies and financial channels Russian nationals may be using to buy prohibited goods or fund weapons of mass destruction, Treasury claimed in a report to federal lawmakers last month. U.S. officials hope the program will improve the quality of suspicious activity reports and thus help uncover "complex Russian illicit financial networks and develop actionable leads," according to...

TO READ THE FULL STORY