Regulatory Alerts2014-09-11 | FinCEN Advisory – FIN-2014-A008Added
Guidance on Recognizing Activity that May be Associated with Human Smuggling and Human Trafficking Financial Red Flags
The Financial Crimes Enforcement Network (FinCEN) advises financial institutions on detecting and reporting suspicious financial activity related to human smuggling and human trafficking. It provides financial indicators, or "red flags," in Appendices A and B, and common terms for use in Suspicious Activity Reports (SARs) to assist law enforcement. Financial institutions are requested to include "ADVISORY HUMAN SMUGGLING" and/or "ADVISORY HUMAN TRAFFICKING" in SAR narratives and suspicious activity information. FinCEN also encourages financial institutions to share information under Section 314(b) of the USA PATRIOT Act regarding suspected money laundering involving these illicit activities.