In shutdown, AML, terror agencies scrimp on guidance, regulations, GTOs, foreign info sharing
6 hours ago
Posted by: Brian Monroe
During government shutdown, U.S. AML, terror agencies scrimp on new guidance, regulations, foreign, domestic info sharing, GTOs
By Brian Monroe
January 13, 2019
As the record partial shutdown government shutdown continues, eclipsing three weeks, the hampered operations are taking their toll on U.S. financial crime defenses, with agencies issuing fewer pieces of guidance, rules, regional risk assessments and halting responses to certain domestic and foreign information sharing requests, just to name a few.
Operations responsible for U.S. anti-money laundering (AML) investigations, data analyses and enforcement are working with a fraction of their normal staff counts, while other agencies focused on terrorists, rogue nations and transnational organized criminal groups will only be able to provide limited support for cybersecurity breakdowns and requests for help from private sector partners, like financial institutions.