DOJ Intensifies Trade Fraud Crackdown with New Enforcement Unit
Summary The US Department of Justice has created a new Market, Government, and Consumer Fraud Unit (MGCF) by merging its Criminal and Civil Division resources to combat trade fraud and tariff evasion. This consolidation represents a strategic pivot toward targeting sophisticated trade-based financial crimes, particularly in response to increased tariffs on Chinese imports exceeding 50%. […]
US Treasury Sanctions Three Major Mexican Banks in Landmark Cartel Money Laundering Crackdown
Summary The US Treasury Department has imposed sanctions on three prominent Mexican financial institutions – CIBanco, Intercam Banco, and Vector Casa de Bolsa – for allegedly laundering millions in cartel funds and facilitating fentanyl precursor chemical purchases. The sanctions effectively cut off these institutions from the US financial system and target 31 connected individuals, with […]
FinCEN Analysis: TBML Networks Drive Fentanyl Finance
Summary Trade-based money laundering schemes accounted for just 2% of fentanyl-related suspicious activity reports in 2024, yet represented 42% of the aggregate $1.4 billion in flagged transactions—exposing how sophisticated criminal networks exploit legitimate commerce to move cartel profits. FinCEN’s analysis of 1,246 Bank Secrecy Act reports reveals Mexican cartels increasingly rely on professional money laundering […]
San Diego’s Human Trafficking Crisis: A Major US Trafficking Hub Exposed
Summary FBI data reveals San Diego as one of just 13 major human trafficking hotspots in the United States, highlighting the region’s critical role in this criminal enterprise. The designation of San Diego County, traditionally known for its attractive coastal location and economic opportunities, as a significant trafficking hub demonstrates how criminal networks are exploiting […]
US Treasury Alerts Banks to Rising Trade-Based Money Laundering Threats
Summary The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a formal alert warning financial institutions about the growing sophistication of trade-based money laundering schemes. The alert highlights how criminals are exploiting legitimate trade transactions and documentation to move illicit funds across borders, with particular focus on the misuse of letters of credit and […]