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According to experts, FinCEN files will help fight financial crime


New research in the financial sector finds widespread support for the idea that: FinCEN files: The investigation will help fight global corruption.

Most of the respondents mentioned that the ranks of BuzzFeed News միջազգային International Consortium of Investigative Journalists will have a positive impact on efforts to curb financial crimes.

The answers are part a survey: By 340 banks’ internal affairs, regulators and other financial experts Association of Certified Anti-Money Laundering Specialists, the largest organization of financial crime professionals in the world. A survey released last week addressed the many issues facing these officials on a daily basis, from the direction received from the Ministry of Finance to the tools used to track down financial crimes.

FinCEN Files, an unprecedented look at global financial corruption և banks and the policies that allow it, were based on thousands of secret “suspicious activity reports” received from the Ministry of Finance. Prior to the series’ release in September 2020, the Ministry of Finance warned that the revelations could “affect the national security of the United States” և “yield to law enforcement investigations”.

Half a year later, only 27% of those polled said they thought the impact would be negative. 46% of respondents said that they believe that the project will strengthen the regulatory oversight of financial institutions or the voluntary strengthening of anti-corruption measures.

The result is a surprise, says Ross Delston, a lawyer and money laundering expert.

“It has become almost a religious preference that SARs should never be detected, otherwise remembered, always protected,” he said. “Just because of that, I would think that compliance experts would make any dissemination of information irritating.”

He added that “from the beginning, FinCEN”, the Treasury Department’s Financial Crimes Network, “seemed to think that the disclosure would harm their work. The reality is that it can confirm their work. ”

Recently, the Congress passed a monument law: close the main money laundering gap և Leading legislators have counted on FinCEN files to help overcome them faster. The corporate transparency law will make it harder for individuals to hide their identities behind so-called shell companies.

“Industry is still facing sharp challenges.”

Nearly 80% said national periodic anti-money laundering guidelines would be helpful. Nearly two-thirds suggested that regulators should respond better to their reports. Nearly 65% ​​of respondents believe that there is a harmful “delay” in suspicious financial transactions when they are submitted to the Ministry of Finance.



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