Issues

Money Laundering Organizations and the Use of Counterfeit Chinese Passports
Fraud Alert, Global Financial Crime Review, March – May 2024

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The Homeland Security Investigations (HSI) Cross-Border Financial Crime Center (CBFCC) is alerting U.S. financial institutions (FIs) of the prevalent use of counterfeit Chinese passports by money laundering organizations to facilitate criminal activity. Operating throughout the U.S., Chinese money laundering organizations (CMLOs), including those with suspected...
Battling Financial Crime in the Global Payment System
Global Financial Crime Review, March – May 2024

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The globe has become increasingly connected digitally, and cutting-edge innovations like artificial intelligence (AI) and machine learning have helped fuel this extraordinary rise. Formerly conducted in person, the traditional payment mechanisms were later changed to banks or other third parties assisting customers with seamless transactions....