The Sept. 20 release of the so-called FinCEN Files is the latest mass data dump on international money laundering, comparable to the releases of the Panama Papers in 2016 and the Paradise Papers in 2017. Amid the ensuing global wave of media reporting on massive flows of corruption through large international banks, U.S. news coverage has often focused on a narrative that gaping U.S. legal and regulatory deficiencies urgently require political action. However, the information revealed in the FinCEN Files collection does not implicate deficiencies in existing U.S. anti-money laundering (AML) policies and civil regulatory enforcement.
Oct. 7, 2020, 8:30 AM
ANALYSIS: The FinCEN Files — Much Ado About No Legal Issues
Robert Kim
Legal Analyst
