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The United States Department of the Treasury, acting through the Financial Crimes Enforcement Network (FinCEN), has initiated measures to sever MBaer Merchant Bank AG from the U.S. financial system following the identification of the Swiss bank as a primary money laundering concern. Treasury officials found that MBaer facilitated the movement of over one hundred million dollars for illicit actors connected to Russia and Iran. Secretary of the Treasury Scott Bessent emphasized

Financial Crimes Enforcement Network has released administrative ruling FIN-2026-R001, introducing sweeping regulatory relief tied to how financial institutions identify and verify the owners of legal entities. The new directive allows banks and credit unions to skip certain repetitive data collection requirements that had been mandatory under the 2016 Customer Due Diligence Rule. By shifting toward a risk-based compliance model rather than maintaining rigid account-triggered

Authorities in the United States have broadened their enforcement campaign against overseas groups accused of washing billions of dollars in illegal profits through elaborate shadow banking arrangements, a move that follows a detailed briefing from the Congressional Research Service on how these specialized systems enable financial crime for transnational organizations such as the Sinaloa Cartel. The briefing explains that these syndicates rely on underground banking structur