United States
United States
BlogDrug Trafficking Detection: Why Complexity is the Financial Sector’s Greatest ChallengeMay 11, 2026 by Cheryl Friedenbach Drug trafficking remains one of the most persistent and damaging forms of financial crime, and for financial institutions, it is also one of the most complex to detect. As drug trafficking organizations (DTOs) evolve their operations, the financial services community is collaborating to advance anti-money laundering (AML)... |
BlogDrug Trafficking Detection: FinCEN Reinforces AML PrioritiesAugust 18, 2025 by Nasdaq Verafin Drug trafficking detection is a greater priority for financial institutions with the current administration’s move to designate international cartels as terrorists. In response, FinCEN has enhanced its National Priorities with new rules that give financial institutions more incentive to identify... |
BlogCross-Border Illicit Activity in Europe: International Financial Crime Knows No BoundsApril 25, 2025 by Nasdaq Verafin European banks face an increasingly complex environment as criminals exploit the highly interconnected and real-time nature of the global payment system to move funds on a massive scale. This cross-border illicit funds movement, or the flow of illegal funds from... |
BlogPredicate Crimes to Money Laundering: 5 Key Illicit ActivitiesMarch 7, 2025 by Nasdaq Verafin Predicate crimes to money laundering are criminal activities that generate illicit profits, which are then reintroduced into the economy through a process of placement, layering, and integration. From drug and human trafficking to terrorist financing and fraud, these illegal activities... |
BlogFighting Predicate Crimes: A New VisionJuly 2, 2024 by Fouad Hassouneh Last year, $3.1 trillion in illicit funds flowed through the global financial system, fueled by hundreds of billions of dollars generated by predicate crimes, from drug trafficking to human trafficking, terrorist financing and fraud. As this global epidemic of financial... |
BlogFunnel AccountsApril 10, 2024 by Nasdaq Verafin Funnel accounts continue to thrive as criminal organizations leverage the tactic to exploit the U.S. banking system and quickly move money across great distances at minimal cost — all while enabling anonymity for the depositors. Used as a method to... |
BlogU.S. Court Case: 60 Funnel Accounts Used by Heroin Trafficking OrganizationSeptember 27, 2017 by Denise Hutchings “Narcotics traffickers will attempt to create elaborate financial networks in an effort to launder illegal drug proceeds.” (James Dorsey, Acting Special Agent in Charge IRS Criminal Investigation, June 2017) Heroin Trafficking Organizations Targeted by OFAC In May 2017, Treasury Secretary... |
Blog12 Red Flags for “Funnel Accounts” Used to Launder MoneyFebruary 25, 2015 by Denise Hutchings Regulatory and law enforcement agencies are cautioning financial institutions about an increased use of illegal funnel accounts to launder proceeds from human smuggling, human trafficking and drug trafficking crimes. In light of the recent attention on this money laundering trend,... |
