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Recent military setbacks have diminished the Islamic State's control over local populations, natural resources and cultural antiquities in Iraq and Syria, raising the possibility that the group may turn to drug trafficking and other criminal schemes to generate revenue, say sources.
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.
Among the many challenges of identifying terrorist funds is the fact that they can be hidden in plain sight, according to Colin P. Clarke, an associate political scientist at the RAND Corporation who studies the subject.
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.
In the financial compliance world, debt repayment doesn't usually attract much in the way of negative attention. But in the context of other red flags, sudden debt reimbursement can signal that a client is following a little-known stricture for Islamic soldiers who may soon die in battle.
The House Financial Services Committee approved the formation of a taskforce Wednesday to recommend how to better cut off funding networks used by terrorist organizations.
A global watchdog against financial crime removed Turkey from a list of jurisdictions that haven't sufficiently complied with its standards, despite the country's failure to meet several of the group's goals.
The world's premier financial crime watchdog declined Friday to suspend Turkey's membership and disclosed how its assessors will begin evaluating jurisdictions on the efficacy with which they fight illicit finance.
Global banks with business in Turkey are anticipating the outcome of an intergovernmental organization's plenary meeting this month that could see the country suspended from the group or removed from a blacklist.
The Turkish government's longstanding relationship with Hamas has stalled the country's passage of counterterrorist financing measures and threatened its involvement with an influential intergovernmental group, analysts say.
The Financial Action Task Force threatened Friday to suspend Turkey's membership if the country fails to pass counterterrorist financing laws ahead of a Feb. 22 meeting by the group.
Turkey announces plans to impose sanctions against Syria due to violence against government protestors, FinCEN asks for comments on proposed revised MSB registration form, and more, in this week's roundup.
Awareness of anti-money laundering (AML) responsibilities is low among government authorities and nonbank financial institutions in Turkey and Georgia, according to reports by two international groups focused on global AML standards.
