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Money Laundering & Terrorist Financing

United States

This section covers AML/CTF initiatives by the US Treasury, US DoJ, OCC, FinCEN, SEC and other related US organisations.

USA PATRIOT ACT 2001
Bank Secrecy Act AML Statutes & Regulations
Internal Revenue Service FATCA updates
US Department of the Treasury updates
US Department of Justice Enforcement actions
Department of State’s International Narcotics Control Strategy Reports
Office of the Comptroller of the Currency
Financial Crime Enforcements Network (FinCEN) updates
Securities and Exchange Commission enforcement actions
Financial Industry and Regulatory Authority updates

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US DoJ secures a guilty plea from the operator of an international money laundering network that recruited more than 15,000 US money mules to process stolen funds

October 8, 2026

The Your Mule Cashout network facilitated the laundering of proceeds stolen from more than 750 US bank accounts, with at least $10 million routed through intermediaries to overseas recipients. Its operators recruited individuals through fraudulent employment opportunities, disguising criminal transfers as legitimate business payments.

US DoJ issued Directive 26-13, directing prosecutors to coordinate tax, securities, consumer fraud and cybercrime powers to investigate and dismantle complex fraud networks

October 8, 2026

The directive builds on the National Fraud Enforcement Division’s earlier priorities and corporate enforcement policy, establishing a more integrated approach to investigating and prosecuting financial crime. It signals a shift towards targeting interconnected schemes through multiple legal authorities rather than treating individual fraud offences in isolation…

FinCEN withdraws proposed reporting requirements for unhosted cryptocurrency wallets and special AML measures targeting virtual currency mixing services, signalling a change in US digital asset regulation

October 5, 2026

The withdrawn proposals would have imposed additional recordkeeping, identity verification and reporting obligations on financial institutions handling certain cryptocurrency transactions. FinCEN cited stakeholder feedback and the administration’s deregulatory agenda, although existing Bank Secrecy Act obligations remain in force.

FinCEN withdraws proposed rules that would have imposed certain regulatory requirements on FIs related to certain digital assets, specifically convertible virtual currencies

October 5, 2026

FinCEN has withdrawn two proposed rules that would have introduced recordkeeping, verification and reporting requirements for certain convertible virtual currency transactions. The proposals covered unhosted wallets and a special measure targeting convertible virtual currency mixing. The withdrawals follow FinCEN’s review of public comments and form part of the Trump Administration’s deregulatory agenda and…

White House launches “Super Intelligence” era, directing federal agencies to replace AI terminology with “SI” and develop a new federal definition

September 29, 2026

The order also calls for a proposed federal definition of “Super Intelligence” within 60 days, alongside recommendations for changes to existing laws and executive actions. It directs federal agencies to use “Super Intelligence” and “SI” in place of “Artificial Intelligence” and “AI” across official communications, reports and policy documents, where permitted by law. The move signals a broader U.S. policy focus on increasingly advanced AI capabilities…

U.S. Senate investigation report finds 84% of 846 Iran-linked crypto wallets used Tether (USDT) as $603 million moved through Iran’s shadow banking network

September 28, 2026

Two sanctioned Iranian oil smugglers allegedly moved more than $603 million worth of Tether (USDT) between 2021 and 2025 through networks linked to Iranian financial institutions and regional proxy groups. The findings highlight how stablecoins, crypto intermediaries and unregulated exchanges can be used to bypass sanctions and move funds outside traditional banking channels…

US DOJ seizes more than $52M in crypto linked to Chinese-run scam marketplace Xinbi Guarantee as global action targets the infrastructure behind scam centres

September 9, 2026

The Scam Center Strike Force coordinated the action with Treasury as part of a broader campaign against cryptocurrency-enabled fraud originating from Southeast Asian scam compounds. DOJ reports that the latest seizures bring the value of cryptocurrency restrained through the Strike Force’s operations to approximately $938 million. The action illustrates increasing coordination between criminal enforcement, asset forfeiture and OFAC sanctions against…

FinCEN’s Financial Trend Analysis reveals $17.5B in suspected health care fraud across 5,702 BSA reports, with home health care the most frequently identified provider type

September 9, 2026

The Analysis draws on Bank Secrecy Act reporting to identify patterns and trends associated with suspected fraud against public and private health care programmes. The publication provides financial institutions with intelligence derived from suspicious activity reporting and demonstrates FinCEN’s increasing use of aggregated BSA data to identify significant financial-crime typologies…

FinCEN and US Banking regulators clarify that qualifying govt-issued digital credentials can be used for customer verification under existing CIP rules, including remote a/c opening

September 8, 2026

The FAQs confirm that these credentials can support both in-person and remote account opening, provided institutions can reliably authenticate the information and establish the customer’s true identity. Verifiable Digital Credentials remain optional, but banks must consider signs of fraud or unreliable credentials when determining whether identity has been sufficiently verified…

FinCEN warns financial institutions about digital asset investment scams after identifying nearly $13 billion in transactions linked to suspected overseas scam centres

September 3, 2026

FinCEN’s analysis examines Bank Secrecy Act reporting associated with industrial-scale investment fraud, including schemes commonly described as “pig butchering”, romance baiting or cryptocurrency confidence scams. The accompanying alert provides financial institutions with typologies and indicators intended to improve detection and suspicious activity reporting, with particular attention to transnational criminal organisations operating scam compounds in Southeast Asia.

FinCEN’s new Financial Trend Analysis links $12.7B in suspected digital-asset scams to 33,904 BSA reports, exposing growing use of stablecoins, money mules & professional money launderers

September 3, 2026

Analysis of 33,904 BSA reports covering September 2023 to December 2025 shows the scale at which these operations have become industrialised, with shell companies and professional laundering networks helping move proceeds after victims are persuaded to transfer funds. FinCEN has issued new red flags to help firms identify both victims and associated financial flows…

U.S. DOJ indicts man for allegedly operating a $25M hawala network moving funds between the U.S. and Yemen through dozens of business a/cs, highlighting risks from unlicensed money transmission

September 3, 2026

The scheme allegedly used dozens of bank accounts held through businesses he controlled, including trading companies and convenience stores, to facilitate the transfers outside the formal banking system. The case highlights the ML risks posed by informal value transfer systems, multiple business accounts and cross-border transactions…

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