ABSTRACT

National Strategy for Combating Terrorist and Other Illicit Financing [May 2022]   [open pdf - 2MB]

From the Introduction: "Illicit finance activity in the United States or transiting the U.S. financial system poses a systemic challenge to our financial integrity and national security. It distorts markets and victimizes ordinary Americans. [...] The National Strategy for Combating Terrorist and Other Illicit Financing (2022 Strategy) will guide U.S. government efforts to effectively address the most significant illicit finance threats and risks to the U.S. financial system. It is organized around the principle that a strong and transparent financial system that denies illicit actors access to the funds and resources they need to carry out harmful activities, or to profit from their crimes, supports equitable economic growth, strengthens U.S. national security, and protects Americans. The 2022 Strategy takes into account changes to the illicit finance risk environment and major deficiencies in the U.S. AML/CFT [anti-money laundering/countering the financing of terrorism] regime. These include: the COVID-19 [coronavirus disease 2019] pandemic, ransomware attacks, an opioid-driven overdose epidemic, domestic violent extremism (DVE), corruption, the increased digitization of payments and financial services, and the enactment of significant new requirements to the U.S. AML/CFT framework. More recently, this also includes Russia's full-scale invasion of Ukraine and the unprecedented international sanctions and economic pressure campaign that have occurred in response."

Publisher:
Date:
2022-05
Copyright:
Public Domain
Retrieved From:
U.S. Department of the Treasury: https://home.treasury.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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Listed on May 18, 2022 [Critical Releases]
Listed on Global Terrorism [Featured Topic]