In this episode of From The Hill To The Trenches: The Search for Justice with host Dorothy Hill, financial crime compliance expert Brett Erickson reveals the shocking vulnerabilities within America's financial monitoring systems. FinCEN's suspicious activity report database serves 350+ law enforcement agencies, but insider threats remain a constant danger as foreign adversaries compromise federal employees for as little as $10,000-$20,000.

In an unprecedented move, FinCEN banned all US payments to three Mexican banks connected to fentanyl trafficking proceeds. Financial institutions must now block ACH transfers and wire payments while conducting extensive look back reviews of historical transactions. The enforcement action represents a new national security approach to anti-money laundering compliance.

Erickson breaks down the cryptocurrency compliance crisis facing major banks like JPMorgan Chase. Southeast Asian regulatory gaps allow criminals to exploit mixing services like Tornado Cash while compliance teams lack digital currency expertise. With adoption accelerating rapidly, financial institutions face dangerous knowledge gaps in detecting crypto-based money laundering schemes.

Key topics covered:

SAR report database security vulnerabilities

Mexican bank sanctions over fentanyl proceeds

Cryptocurrency mixing services and regulatory gaps

ACAMS and ACFE certification requirements

Sanctions evasion by Russian oligarchs

Politically exposed persons (PEP) monitoring

Cross-border financial crime investigation techniques

Essential listening for compliance officers, AML analysts, financial crime investigators, and banking professionals navigating complex regulatory environments.

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