What's New? Environmental Crimes

The Financial Crimes Enforcement Network (FinCEN) has issued Notice (FIN-2021-NTC4) to call attention to an upward trend in environmental crimes and associated illicit financial activity. Environmental crimes frequently involve transnational organized crime and corruption and are often associated with a variety of other crimes including money laundering, bribery, theft, forgery, tax evasion, fraud, human trafficking, and drug trafficking. Financial institutions’ SAR fillings, in conjunction with effective implementation of their Bank Secrecy Act (BSA) compliance requirements, are crucial to identifying and stopping environmental crimes and related money laundering. Read more about Environmental Crimes and SAR Reporting in The Gold Book.