The Financial Crimes Enforcement Network (FinCEN) today issued an advisory to alert financial institutions to emerging illicit finance threats.

This advisory highlights typologies and red flags associated with money laundering activities linked to international criminal networks.

Key Highlights

• Enhanced due diligence requirements for high-risk transactions
• Updated SAR filing guidance for suspicious activities
• New red flags for identifying potential money laundering schemes

Financial institutions are encouraged to review their compliance programs and ensure adequate controls are in place.