Beautiful Virgin Islands

Tuesday, Jun 03, 2025

FinCEN Names Eight Priorities in U.S. Fight Against Financial Crime

FinCEN Names Eight Priorities in U.S. Fight Against Financial Crime

The U.S. Treasury Department’s financial-crimes bureau published a list on Wednesday of the top U.S. concerns that banks and other firms should focus on under a newly enacted anti-money laundering (AML) law.
The list, which was drafted by the Financial Crimes Enforcement Network (FinCEN), cites corruption, cybercrime and the criminal exploitation of virtual currency, foreign and domestic terrorist financing, fraud, transnational organized crime, narcotics trafficking, human trafficking and smuggling, and the funding of weapons of mass destruction as the department’s primary concerns in its efforts to fight illicit finance.

The “priorities” list follows the enactment in January of the U.S. Anti-Money Laundering Act (AMLA), a law that is widely seen in the United States as the most consequential AML legislation since the passage of the 2001 Patriot Act. Under the AMLA, FinCEN is required to draft a national strategy for countering money laundering and terrorist financing and to publish a list of the related predicate crimes it prioritizes under the plan.

“The establishment of these priorities is intended to assist all covered institutions in their efforts to meet their obligations under laws and regulations designed to combat money laundering and counter terrorist financing,” the bureau said in a statement. “FinCEN will issue regulations at a later date that will specify how financial institutions should incorporate these priorities into their risk-based AML programs.”

FinCEN and other U.S. federal and state regulators will not examine financial institutions for their incorporation of the priorities in their compliance programs until the regulations are promulgated, according to the statement. The AMLA gives the bureau 180 days to issue the rules following the publication of the list, which was drafted in consultation with other regulatory offices, law enforcement agencies and national security bodies.

“Today’s publication of government-wide AML/CFT priorities is a significant milestone in FinCEN’s efforts to improve the efficiency and effectiveness of the nation’s AML/CFT regime and to foster greater public-private partnerships,” said FinCEN Acting Director Michael Mosier in a statement. “The priorities reflect the U.S. Government’s view of the threat landscape—highlighting longstanding threats like corruption, fraud, and international terrorism, as well as rapidly evolving and acute threats, such as domestic terrorism, and ransomware and other cybercrime.”
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×