Terrorist Use of Crowdfunding

Debt & Duty

December 4, 2025

Chinese Money Laundering Networks target students to operate as money mules to launder cartel proceeds. Learn more about the methods used for recruitment and control, and the red flags that financial institutions can use to identify and respond.

When Holiday Cheer Meets Fraud Pressure

November 26, 2025

This article breaks down the key scam patterns emerging this season, why December has become a true test of institutional readiness, and the steps teams can take to reduce losses and respond with confidence.

Navigating the Convergence of Sanctions Evasion, Export Control Evasion, and Money Laundering

October 22, 2025

Explore the convergence of illicit finance domains through real-life examples including Russia’s procurement of drone components, Iran’s evasion networks, and China’s acquisition of restricted chips.

Operation Mouse

October 8, 2025

Synthetic identities are increasingly used to perpetrate fraud. Delve into real-life examples of synthetic identity fraud in Canada, along with the actions financial institutions can take in response, in this article.

Laundering Luxury

September 17, 2025

‘Daigou’ buyers purchasing luxury items in the U.S. for sale in China are often funded by Chinese Money Laundering Networks using financial proceeds of cartel activities. Learn how these methods operate, the red flags financial institutions can identify, and the actions to take in response.

Terrorist Drug Trafficking Organizations

September 11, 2025

This article provides background on designated cartels — their geographic reach, how they raise and move money, the risks they pose to financial institutions, and common red flags that may help financial institutions to identify suspicious activity.

FATF’s Recent Risk Map Update

September 5, 2025

FATF’s June 2025 update—new grey list additions and unchanged high-risk jurisdictions mean updated risk scores, stronger due diligence, and sharper monitoring for compliance teams. Here are three actions to take now.

Deepfake Deep Dive

August 27, 2025

Artificial intelligence (AI) can increase the volume, value, and effectiveness of fraud attacks such as CEO fraud. Financial institutions should take action to protect themselves – and their customers.

Blockchain & Ballistics

July 25, 2025

The Houthis are pioneering a new model of terrorist financing by using digital assets to purchase advanced weapons systems. This article explores the new dimensions of this convergence, and red flags associated with these evolving risks.

Out of the Shadows

July 23, 2025

Iran’s shadow banking system has laundered billions of dollars for the regime. In this article, we detail how the system works and how financial institutions can identify red flags associated with Iran’s oil smuggling and concealed payment networks.

Cartels & Crypto

July 17, 2025

Cartels and the professional money launderers that service them have integrated digital assets throughout the narcotics trade, from precursors to sales and laundering proceeds.

Canada’s Strong Borders Act

July 8, 2025

Canada’s Strong Borders Act represents a sweeping overhaul of the country’s AML/CFT regime. The legislation introduces tougher penalties, expanded oversight, and stricter compliance and enforcement expectations.

A Dangerous Alliance

June 26, 2025

Today, on United Nations International Day Against Drug Abuse and Illicit Trafficking, we spotlight a dangerous financial alliance accelerating the fentanyl crisis: transnational partnerships between Mexican cartels and Chinese money laundering networks.

From Fraud to Flow

June 18, 2025

Fraud is often the entry point into a complex web of financial crime from money laundering to terrorism financing. Understanding this gateway role is essential for those defending the integrity of the global financial system.

The Network, Not the Node

June 5, 2025

Data analytics and advanced technologies are critical tools to take effective action against increasingly complex criminal networks. In this article we consider the best practices a financial institution could apply when implementing data analytics strategies and solutions, and what the future holds.

Sweeping AML Requirements for RIAs and ERAs

May 1, 2025

FINCEN issued a final rule with new AML requirements for investment advisers. With the January 1, 2026 deadline approaching, RIA and ERA firms must begin building and implementing their compliance programs as soon as possible.

Cartels, Cash, and Capital Flows

April 22, 2025

Cartels and their money laundering networks represent an increasing threat to our security and citizens, as well as being a priority for enforcement action. This article sets out five actionable steps a financial institution can take to ensure it is effectively identifying and responding to cartel risk.

Syndicates of Terror

April 4, 2025

Eight Latin American drug cartels were recently designated by the United States as Foreign Terrorist Organizations and Specially Designated Global Terrorists. The U.S. designation enhances compliance risks for financial institutions and other companies transacting in Latin America.

Navigating the Convergence of Sanctions & AML Regimes

March 11, 2025

In our recent webinar, the director of compliance and enforcement at OFAC and three financial integrity industry leaders discussed the importance of breaking down silos and shared other advice for AML/CFT and sanctions professionals.

Interlocking Action

February 27, 2025

Transnational crime requires a coordinated response. Examine the characteristics of transnational crime, breakdowns in internal cooperation within financial institutions that resulted in enforcement action, and the actions Chief Compliance Officers must take to ensure an effective and coordinated response within their institution.

The Heat is On

February 24, 2025

Explore the key insights and implications from Transparency International’s 2024 Corruption Perceptions Index.

The New Counter-Illicit Finance Regime

February 13, 2025

The convergence of AML/CFT and sanctions regimes has led to a paradigm shift. These disciplines may now be viewed as overlapping parts of a broader global counter-illicit finance regime.

Examining Evasion

February 10, 2025

Explore three recent examples with Russia, Iran, and North Korea, which represent some of the most common methods illicit actors have embraced to evade sanctions. Understanding them is an important starting point for private sector firms in assessing and responding to their exposure.

Wicked Games

February 4, 2025

Casinos are a convenient money-laundering venue. Discover effective strategies gaming venues can use to structure a robust AML compliance program and avoid being exploited by illicit actors.

The Chips Are Down

January 28, 2025

Recent enforcement actions indicate regulators are tightening their focus on the illicit cash that traverses the gaming industry. This article explores why casinos are a convenient money laundering venue and recent enforcement cases that highlight the risks the gaming industry faces globally.

2024’s Top 10 Major Developments

January 17, 2025

Explore the highlights from our recent webinar including an overview of the current illicit finance landscape, major events in 2024 as well as noted possible future developments as the global illicit finance regime grows and evolves.

Syria Sanctions Relief

January 16, 2025

The U.S. Treasury has issued a Syria General License to provide gradual sanctions relief for the Syrian people after the regime of Bashar al-Assad was toppled in December 2024. What does this sanctions relief mean to financial institutions and other firms hoping to transact in the country?

Shell Companies as an Enabler of Export Control Violations

January 8, 2025

Shell companies are a key enabler of export control violations, which represents an extension of their well-established use in other financial crimes. This article provides red flags financial institutions can use to identify shell companies in the export control context and to take action accordingly – which can provide one element in an export control compliance program.

Toward a Financial Integrity Risk Management Program

December 19, 2024

This article explores the commonalities between AML, sanctions compliance, ABC, fraud risk management, and export control compliance programs and recommends that organizations consider using a holistic financial integrity risk management and compliance framework.

Webinar Recap – The Dos, Don’ts & Expert Insights on Beneficial Ownership

December 10, 2024

In our recent webinar, regulatory, investigative, and anticorruption policy experts discussed some of the nuances relating to the U.S. Corporate Transparency Act (CTA) and its Beneficial Ownership reporting requirement. Explore the highlights in this article.

Cold Turkey

December 3, 2024

Consumer spending over the holiday season is expected to top $1.66 trillion this year in the U.S. alone. This article describes five holiday season frauds to be aware of along with associated red flags to avoid being scammed.

The Sanctions Evasion Threat

November 26, 2024

It’s more important than ever for compliance officers to understand and recognize sanctions evasion typologies. In this article, we explore six of the most common techniques illicit actors use to evade sanctions.

How to be a Digital Asset Detective

November 21, 2024

Step into the role of a digital asset investigator. From tracing complex ownership structures to leveraging blockchain transparency, discover the tools and techniques that bring clarity to a sector often seen as cryptic. Follow along with our investigation into a digital asset business and come away with a step-by-step guide for uncovering hidden risks.

Side Quest

November 19, 2024

“Side quests” are initiatives that align staff motivations, interests, and experience with discretionary projects. They provide solutions to enhance staff engagement, performance, and retention, and are particularly valuable where resource constraints may slow promotions or pay increases, or where compliance tasks involve repetitive work.

Big Fines, Bigger Lessons

October 30, 2024

TD Bank’s $3 billion fine highlights a growing trend: regulators are cracking down hard on weak AML programs. Discover why fines are skyrocketing and how strong AML training can help safeguard your institution.

Risky Convergences

October 28, 2024

New digital solutions in money laundering and underground banking have facilitated the expansion of the criminal business environment in Southeast Asia, integrate billions of criminal proceeds into the formal financial system and enabling the growth of new criminal organizations.

A PEP Talk

October 24, 2024

Politically exposed persons are individuals who, due to their positions of power, influence, or proximity to government, are susceptible to becoming involved in corruption, bribery, or other financial crimes. And because moving and hiding misappropriated assets often involves money laundering, financial institutions across the globe are tasked with the challenge of identifying and managing these risks.

A $3 Billion Mistake

October 22, 2024

TD Bank was recently slammed with a record $3 billion fine for failing to comply with AML laws. With $18 trillion in unmonitored transactions, the bank became a hotbed for criminal activity. What went wrong, and what can other financial institutions learn from this?

Beneficial Ownership: Who Owns What?

October 17, 2024

U.S. efforts to curb illicit finance are in full swing, as the requirement to reveal the beneficial owners of certain entities registered or operating in the United States came into effect this year. In this article, we explore key requirements, benefits, and deadlines as well as address some of the concerns organizations may have about the new regulation.

From Cash to Clicks – AML Challenges & Typologies for Digital Payments

October 2, 2024

Dive into the dynamic world of digital payments, where convenience meets innovation. Learn the challenges Payment Service Providers are navigating with smarter, technology-driven Anti-Money Laundering practices to ensure secure and efficient transactions.

How has Terrorism Financing Changed Since 9/11?

September 12, 2024

While financial provisions enacted after the terrorist attacks of 9/11 have succeeded in addressing vulnerabilities in the global financial system, terrorist organizations have developed new methods of fundraising and moving assets, including digital assets and online platforms. In this article we examine how new technologies facilitate terrorism financing and the risks financial institutions should consider.

A Review of the Financial System Post 9/11

September 11, 2024

After the terrorist attacks on September 11, 2001, the private sector, especially financial institutions, began to play a vital part in protecting the U.S. and global financial systems. In this article we examine the changes to the financial system that resulted after 9/11 and discuss how the role of financial institutions has changed with respect to deterring and detecting the financing of terrorism.

AML Compliance for Small Businesses

September 4, 2024

Small businesses face the challenge of navigating the intricate landscape of anti-money laundering (AML) regulations. Despite the challenges posed by evolving global standards and limited resources, small businesses can use tailored strategies to fortify their compliance frameworks and thrive in a complex regulatory environment.

Collaboration Between Chinese Money Laundering Organizations & Drug Cartels

August 28, 2024

Global regulators are highlighting the growing threat of Chinese money laundering organizations that help transnational criminal organizations—particularly drug cartels—access and move assets through the global financial system. Global financial institutions must enhance their due diligence efforts, given the growing scope of the problem and the increasingly sophisticated methods used to launder drug proceeds.

Elevating Defenses

August 22, 2024

Dive into the cutting-edge strategies that financial institutions are implementing to combat the evolving threat of AI-driven fraud. From deploying advanced detection technologies to fostering robust networks of allies, learn how the financial sector is bolstering its defenses against sophisticated scams like deepfakes and biometric fraud.

Deepfakes and Dollars

August 20, 2024

While AI has the potential for transformative impact in the financial sector, it also introduces new challenges. From biometric mimicry to the alarming rise of deepfakes, this blog highlights emerging threats and challenges in countering AI-driven fraud.

Working Together to Fight Transnational Financial Crime

July 30, 2024

The transnational nature of criminal networks, cross-border financial flows, and sometimes the international nature of crimes themselves, mean a unified response between the public, private sector, and “third sector” is critical. This article uses the example of human trafficking to identify the capabilities of each sector and how they can achieve the greatest effect by working together.

The Convergence of Sanctions & AML

July 24, 2024

The convergence of sanctions and anti-money laundering efforts has significantly accelerated since Russia’s full-scale invasion of Ukraine in February 2022. FINTRAC in June 2024 released a special bulletin focusing on financial activity associated with suspected sanctions evasion. The report highlighted shared methodologies and insights to help compliance teams collaborate on best practices.

Three Lines of Defense: Case Study

July 18, 2024

The “three lines of defense” model is a widely recognized approach for effectively managing financial crime and regulatory risk. But how does it work in practice? This article explores how the three lines of defense applies using client due diligence as a real-life case study.

Crypto Under the Microscope

July 11, 2024

In the fast-evolving digital assets market, compliance is not just a regulatory requirement—it's a strategic imperative. From Binance's multi-billion-dollar settlement to the dramatic collapse of FTX, recent enforcement actions have sent shockwaves through the industry, underscoring the critical need for a robust compliance system.

Three Lines of Defense

July 9, 2024

The “three lines of defense” is a well-established model for implementing an organizational structure to effectively manage financial crime risk and regulatory compliance. Explore the three lines of defense, their responsibilities and the advantages of the three line model in this article.

Understanding and Addressing Fraud and Corruption Risks

July 2, 2024

In our recent webinar, industry experts delved into the crucial topic of fraud and corruption risks. From seasoned professionals to anti-corruption activists, the webinar featured a panel of distinguished speakers: Steve Burgess, Nikki Kenyon, Chris Williams, and James Wasserstrom. This blog post aims to summarize the key points discussed during the session, equipping readers with the knowledge necessary to navigate these risks effectively.

Embracing Emerging Technologies through Capability Development

June 27, 2024

Risk is perceived to be higher when a subject area is unfamiliar, which is particularly likely for emerging technologies and products. One solution is to develop the capability of staff through training and experience, where Chief Compliance Officers can utilize partners to support upskilling and augment internal capability where required. Digital assets provide a good case study: detailed knowledge within financial institution compliance and business teams to manage risks while enabling business growth.

Corruption in Construction

June 21, 2024

Corruption in the construction sector can include everything from fraud, to extortion, embezzlement, and other abuses. Corruption doesn’t just undermine good governance; it endangers lives and threatens the reputation of any financial institution involved in construction projects that are rife with fraud and abuse. How can government organizations and financial institutions mitigate corruption risks when funding or supporting infrastructure projects? How can they detect suspicious transactions?

OFAC’s Compliance Guidance in Action

June 18, 2024

The Treasury Department’s Office of Foreign Assets Control (OFAC) five years ago published its Framework for OFAC Compliance Commitments. This guidance remains the most comprehensive articulation of OFAC’s compliance expectations to date. Although it notably stopped short of mandating a sanctions compliance program (SCP), recent enforcement actions demonstrate the implications of not having an SCP in place.

Corruption Kills

June 13, 2024

Construction projects are especially vulnerable to corruption because of their complexity, high price tags, and the number of intermediaries and other parties involved. Corruption in the construction sector does not merely result in financial losses, environmental destruction, and inequality, but it can also result in loss of life.

FinCEN Issues Warning to Financial Institutions

June 11, 2024

Iran continues to explore techniques that allow it to move funds to terrorist proxy groups in its efforts to destabilize the Middle East and project power by supporting the global operations of dangerous militias, proliferation of weapons, and malicious cyber activities. Financial institutions must be increasingly vigilant in detecting illicit transactions linked to Iran-backed terrorist organizations. Regulators have providing guidance, including red flags, and highlighting methodologies used by terrorist groups to raise funds.

2024 National Proliferation Financing Risk Assessment

April 19, 2024

The U.S. Department of the Treasury published the 2024 National Proliferation Financing Risk Assessment in February 2024 providing an in-depth analysis of the threats and vulnerabilities related to proliferation financing (PF) and highlighting key countries and non-state actors working to gain access to weapons of mass destruction (WMDs) and their components and to conventional restricted weapons and technologies.

Golden Visas & Global Graft – How Criminal Actors Exploit Citizenship by Investment Programs

April 3, 2024

While special naturalization programs offered in certain jurisdictions to foreign investors intend to attract foreign direct investment and economic and infrastructure development, these programs can be abused by criminals who seek to launder and conceal proceeds of crime or commit new offences, including financial crimes.

Are Casinos Havens for Money Laundering?

March 12, 2024

A recent UN Office on Drugs and Crime (UNODC) report has found that casinos, junkets, and cryptocurrencies are exacerbating transnational organized criminal activity in East and Southeast Asia as part of the region’s underground banking and money laundering infrastructure. Although the use of casinos to launder money is not new, the proliferation of online gambling since the COVID 19 pandemic has aggravated the existing problem and has given rise to underregulated online gambling venues as more gamblers began playing from home.

Risky Russia – Government Agencies Warn Businesses of Possible Trouble

March 5, 2024

The US Departments of State, Treasury, Commerce, and Labor in late February issued a business advisory warning firms and financial institutions about the serious legal, financial, and reputational risks of doing business in Russia. According to the State Department’s assessment, Russia’s kleptocratic environment undermines fair competition and the rule of law, exposing businesses to the risk of extortion, appropriation of assets, and US law enforcement action.

Pig Butchering on the Rise: When Romance Goes Wrong

February 14, 2024

What is pig butchering and how does it work? Read on to explore the global regulatory response to this rising scam, identify scam tactics and key mitigation strategies.

Real Estate in 2024 – Anticipating a Crackdown on Corruption & Fraud

January 24, 2024

Real estate in the United States has long been a popular channel for corrupt actors seeking to launder illicitly obtained funds. As part of the Biden administration’s 2021 Strategy on Countering Corruption, a long-awaited proposed rule from the Treasury Department that is slated to take effect in early 2024 will seek to address that glaring loophole in US anti-money laundering (AML) regulations.

What Financial Institutions Can Learn from the Binance Settlement

December 7, 2023

Explore lessons learned from the recent Binance settlement including risk mitigation strategies for banks and other financial institutions.

Binance Settles with Regulators

November 21, 2023

Binance, the world’s largest cryptocurrency exchange, on November 21st pleaded guilty and agreed to pay more than $4.3 billion to resolve the US Justice Department’s investigation into its violations of the Bank..

Cyber-Enabled Fraud

November 14, 2023

Cyber-enabled fraud (CEF) is growing, especially with increasing digitalization across the globe. Technological advances have enabled cyber criminals to develop and increase the scale, scope, and speed of their illicit activities.