Analysis

FinCEN Leaks Reveal Failure Of AML Enforcement, Regulation

Law360, London (September 22, 2020, 9:01 PM BST) -- Recently leaked documents detailing $2 trillion worth of suspicious bank transactions have exposed Britain's role as a money laundering hub, offering what white collar attorneys called a stark symbol of failed law enforcement and deficient dirty money defenses in need of an overhaul.

The documents include thousands of suspicious activity reports, known as SARs, filed with the U.S. government's Financial Crimes Enforcement Network, or FinCEN, between 2000 and 2017 that cover transactions involving suspected fraudsters, terrorist financing, organized crime and individuals under U.S. sanctions.

Leaked documents detailing $2 trillion worth of suspicious bank transactions have exposed Britain's role as a money...

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