FinCEN convenes banks and law enforcement in a FinCEN Exchange to tackle transnational ML, exposing $7.1B in Chinese-linked suspicious activity and blocking access to global financial systems

The FinCEN Exchange public-private partnership event brought together financial institutions, federal law enforcement and Treasury officials to focus on identifying and dismantling sophisticated money-laundering networks, specifically those linked to Chinese actors and organised crime. FinCEN shared intelligence, stressed the importance of Bank Secrecy Act reporting, and reiterated its commitment to ongoing cooperation to counter these networks and protect the financial system…