News
printRelated News
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.
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.
In light of growing militant threats and increasing sophistication in terrorist funding networks, a handful of banks are rethinking how to monitor and act upon financial intelligence.
The U.S. House of Representatives Tuesday unanimously passed a bill aimed at foreign banks that provide financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
A transactional data handover mandated under a $102 million settlement disclosed Tuesday between the U.S. Justice Department and a defunct Beirut bank will likely lead to new financial crime investigations.
As U.S. officials work to shield American prepaid cards from abuse by financial crooks, foreign-issued stored value products remain a relatively easy avenue to move money into the United States anonymously.
A decision by the U.S. Second Circuit Court of Appeals affirming sanctions against Jordan's largest bank for not turning over data on suspicious accounts could leave some financial institutions with an unwanted choice, say attorneys.
The U.S. Treasury Department Friday fined a Sioux Falls, SD bank branch $10 million for not properly reporting instances of suspected structuring and terrorist financing.
Increases in the rates that U.S. states tax cigarette purchasers has led to a rise in tobacco smuggling by organized crime groups and terrorist financiers, say governmental officials.
U.S. officials have launched a criminal investigation after linking data seized at Osama bin Laden's compound in Abbottabad, Pakistan to a Bank Secrecy Act report, counterterrorism investigators said Monday.
The U.S. Justice Department seized $150 million held for a Lebanese financial institution at accounts at five U.S. banks, as part of a crackdown on a purported terrorist financing network.
The U.S. Treasury Department's ability to freeze the funds of suspected terror financiers without a warrant is likely curtailed to emergency circumstances under a court order handed down last week.
Lawmakers are asking the U.S. Justice Department to clarify how it will prosecute individuals and groups that aid terrorist organizations, and whether those cases could involve innocent charity groups.
U.S. efforts to clamp down on terror financiers have been largely a success, a federal official told American lawmakers at a hearing in downtown Manhattan Tuesday.
U.S. lawmakers Thursday questioned how a blacklisted Lebanese terrorist organization works with political leaders and narco-traffickers in Latin America.
The Senate Thursday named David Cohen the nation's top sanctions official after legislators agreed to end a standoff over the U.S. Treasury Department's implementation of financial measures aimed at Iran.
Less than two years after U.S. diplomats mentioned concerns that Qatar's terrorist financing problems may be "the worst in the region," the country has done little to effectively limit the crime, say experts.
Last year, depository institutions filed 687 suspicious activity reports citing possible terrorist financing, according to Financial Crimes Enforcement Network data. That represents a 7 percent decline from 2006.
Since 2000, organized criminal syndicates and terrorist organizations have "dramatically" increased efforts to counterfeit goods, a crime that can be both highly profitable and difficult to detect, money laundering experts say.
The Justice Department, following high-profile failures in terrorism-related cases is prosecuting suspected terrorists on lesser, white collar charges. That may resonate in the financial world as institutions find themselves under greater scrutiny for AML and counter-terrorism financing compliance.
