Overview
- The Financial Crimes Enforcement Network is scrutinizing more than 100 money-services businesses along the Southwest border for suspected Bank Secrecy Act violations.
- FinCEN reviewed over 1 million Currency Transaction Reports and 87,000 Suspicious Activity Reports to identify suspect patterns tied to cartel activity.
- The probe has produced six notices of investigation, dozens of examination referrals to the IRS, and more than 50 compliance outreach letters.
- OFAC imposed new sanctions on the Cartel de Santa Rosa de Lima and its alleged leader, whom U.S. officials say directs operations from a Mexican prison.
- Treasury says the cartel profits from fuel and oil theft and maintains alliances with the Sinaloa and Gulf cartels, groups designated as foreign terrorist organizations earlier this year.