Search

Tag: Drug Trafficking

Posts by Most Recent

  Blog

U.S. Court Case: 60 Funnel Accounts Used by Heroin Trafficking Organization

September 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... 

  Blog

12 Red Flags for “Funnel Accounts” Used to Launder Money

February 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,...