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Treasury promotes fraudulent financial combat strategy




The US Treasury announced on Friday (May 13) a strategy to combat illegal financing, emphasizing measures designed to make the financial system more transparent.

According to the department’s press release, the national strategy to combat terrorists and other fraudulent financing in 2022 is an increase in pandemics, fraud and corruption, and advances in the digitization of the financial world.

Illegal finances are a major national security threat, nothing more obvious than the war with Ukraine in Russia, supported by decades of corruption by the Russian elite, says Elizabeth in terrorist financing and financial crime. -Deputy Secretary Rosenberg said in the announcement. We need to close loopholes, work efficiently with international partners, and leverage new technologies to address the risks posed by corruption, increased domestic violent extremism, and the abuse of virtual assets.

See: Compliance with crypto sanctions and AML regulations is complex, but not impossible

The 2022 strategy sets out four priorities to combat threats such as small funding to domestic militant networks, the use of front and shell companies in spread finance, and the use of the digital economy.

Bridging legal / regulatory gaps in AML countries and fighting terrorist financing (CFT) frameworks Make this framework more efficient for financial institutions (FIs) Law enforcement agencies, other US government agencies, and illegal Anticipate new avenues of abuse by enabling innovation to increase the operational efficiency of international partnerships in the fight against financial resources

To achieve these goals, the strategy is to apply previously discovered AML / CFT requirements to FIs, more awareness campaigns, strengthen public-private partnerships to promote innovation, and foreign countries on illegal financial issues. We propose several policies of action, including partnerships with our partners.

Earlier this year, European Union lawmakers proposed an AML regime that required identification and screening of cryptocurrency or stablecoin transactions, regardless of their size.

Read more: With AML proposal, ECB abandons digital euro leg in Bitcoin payments


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