To avoid falling behind in the fight against criminal money and terrorist financing, the United States must put the federal agency back at the center of the fight, according to a new report which is based on the opinions of the best experts in the fight against money laundering.
The US Department of the Treasury’s Financial Crimes Enforcement Network – known as FinCEN – is underfunded and overburdened in its role as a leading player in the global effort to catch money launderers and other sophisticated financial criminals who use shell companies, cryptocurrencies and other tools to hide. their activities, says the non-profit anti-corruption group Global Financial Integrity.
“It is an agency that struggles … to address the nation’s emerging money laundering challenges …
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- Headline: Major reforms needed in ‘struggling’ US agency leading fight against dirty money, report says
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