The US Treasury’s Financial Crime Enforcement Network (FinCEN) unit is prioritizing the modernization of anti-money-laundering (AML) and countering-the-financing-of-terrorism (CFT) systems to address increased cyber-enabled fraud, changing illicit finance tactics, the proliferation of drug cartels, shadow banking, and weapons procurement, FinCEN Director Andrea Gacki told a congressional subcommittee this week.
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