New technology helps law enforcement and financial institutions combat money laundering
24 Jun 2013
The recent takedown of a $6 billion Costa Rica-based money laundering operation by the U.S. government represents a sea change in the fight against money laundering – now even more complicated by the rising use of digital currency to clean money obtained through illegal activities.
The complimentary 30-page white paper, which includes perspectives from an executive-level compliance officer at a regional bank, an enforcement analyst from the National White Collar Crime Center and a member of our strategic analysts’ team, is available for download.
"Money laundering has been around for decades," said Andy Russel, vice president of our Fraud Prevention and Investigations. "What's new is the growing role of digital currencies that allow criminal elements to move funds through legal and underground financial institutions anonymously. This white paper highlights how digital currency is transforming the fight on money laundering and how companies and law enforcement are stepping up to meet the challenge with sophisticated technology to identify patterns of money laundering."
CLEAR® investigative suite, in combination with other sophisticated law enforcement technology, can help law enforcement, government agencies, financial institutions and corporate security organizations identify and intercept people and organizations intent on participating in criminal activity, such as money laundering; recover stolen funds, goods or identities and increase public safety.