Regulatory Alerts1996-08-01 | FinCEN Advisory - Issue 4Added
FATF-VII Report on Money Laundering Typologies (FinCEN Advisory - Issue 4)
The Financial Crimes Enforcement Network disseminates the FATF-VII Report on Money Laundering Typologies to alert financial, regulatory, and law enforcement communities to emerging money laundering methods. The report details trends in the banking, non-banking, insurance, and securities sectors, highlighting the use of shell companies, professional facilitators, cyberpayments, and specific insurance products for laundering criminal proceeds. It identifies drug trafficking and financial crime as primary sources of illicit funds and notes the increasing sophistication of laundering techniques involving the former Soviet Union and Eastern Bloc interests.
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