The Financial Crimes Enforcement Network today released an analysis of patterns and patterns included in Bank Secrecy Act reporting on thought evasion of Russia-associated export controls. The evaluated reports show nearly $1 billion in suspicious activity, the firm stated.
A bulk of the business evaluated were connected to the electronic devices market and were possibly connected with—or straight assisting in—Russian export control evasion, FinCEN stated. Companies in the commercial equipment market were likewise possibly providing Russia with devices, it included.
“We appreciate our strong partnership with financial institutions and their continued efforts to provide significant financial intelligence leads and indications of potential Russia-related export control violations,” Acting FinCEN Director Himamauli Das stated.
