FinCEN identifies 10 Mexico-based casinos as primary ML concerns for funneling funds to the Sinaloa Cartel and proposes U.S. banking restrictions to sever the cartel’s access to the financial system

FinCEN issues a finding and proposes a rule under Section 311 of the USA PATRIOT Act that prohibits covered U.S. financial institutions from opening or maintaining correspondent accounts for foreign banks involved in transactions with the ten identified Mexico-based...

US Treasury launches investigation into nearly US$9 B in contracts for potential fraud and abuse of the Small Business Administration’s  Development Program, aiming to boost oversight and accountability

The action initiates a department-wide review of roughly $9 billion in contracts awarded under preference-based programs amid concerns that large firms may have improperly received set-asides while passing most work to subcontractors. It seeks to identify misuse,...