Financial Crimes Enforcement Network

The U.S. Treasury imposed sanctions on individuals and companies linked to the Jalisco New Generation Cartel for a fuel theft and tax evasion scheme generating millions annually. Treasury also issued an alert to financial institutions about red flags for fuel smuggling from the U.S. into Mexico, as the cartel expands beyond drug trafficking.

A former NSC director warns that the CLARITY Act could create loopholes for the crypto industry, enabling Iran and other entities to evade sanctions and facilitate terrorist financing. The bill's provisions may weaken anti-money laundering (AML) requirements for decentralized finance (DeFi) and hinder law enforcement efforts, according to the Fraternal Order of Police.

The U.S. Treasury imposed sanctions on two Mexican men and nine companies linked to fuel theft and tax evasion for the Jalisco New Generation Cartel, while issuing a bank alert to identify fuel smuggling red flags. Treasury Secretary Scott Bessent emphasized the cartel's expansion beyond drug trafficking to generate revenue.

The U.S. Treasury imposed sanctions on two Mexican men and nine companies linked to the Jalisco New Generation Cartel for involvement in a fuel theft ring. It also issued a bank alert highlighting red flags for fuel smuggling and tax evasion schemes. The Treasury Secretary emphasized the cartel’s expansion beyond drug trafficking, while the DEA noted its presence in 21 Mexican states.

The U.S. Treasury imposed sanctions on two Mexican men and nine companies linked to the Jalisco New Generation Cartel (JNGC) for involvement in a fuel theft ring evading Mexican taxes. Treasury also issued a bank alert to financial institutions warning of fuel smuggling schemes tied to the cartel, which has expanded beyond drug trafficking to generate revenue.

The Federal Reserve proposed new customer identification rules for payment stablecoin issuers, aligning them with anti-money laundering standards applied to traditional banks. The rules, part of regulatory efforts under the Genius Act signed by President Trump in July 2025, require stablecoin issuers to collect customer details like legal names and government IDs. Federal Reserve Governor Michael Barr highlighted risks such as reserve asset quality and regulatory arbitrage, urging detailed rulemaking to address gaps.

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an advisory urging banks to identify financial schemes linked to unauthorized workers, including identity theft and payroll tax fraud. The guidance follows an executive order by President Trump requiring banks to scrutinize customer citizenship status, though it stops short of making citizenship data collection mandatory.

The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has issued an advisory to banks to identify red flags related to payroll schemes involving unauthorized workers, following an executive order by President Donald Trump. The advisory highlights concerns about identity theft, payroll tax fraud, and money laundering, while noting banks were able to avoid mandatory collection of citizenship information.

The article explores the development of physical Bitcoin artifacts, highlighting Casascius Coins as the most iconic example. It discusses challenges in securely embedding private keys, the use of tamper-proof stickers, and the role of entrepreneurs and artists in bridging Bitcoin's digital nature with physical form. Regulatory issues led to the discontinuation of Casascius Coins in 2013.

US Comptroller of the Currency Jonathan Gould defended Trump's executive order requiring banks to scrutinize customers' immigration status as a reasonable reform that aligns with financial crime monitoring efforts. Gould also expressed support for expediting fintech access to the Federal Reserve's payment systems and defended the OCC's accelerated approval of nonbank charters.

Senator Richard Blumenthal (D-Conn.) is pressuring the DOJ and Treasury's FinCEN to disclose the status of monitors overseeing Binance after $1.7 billion in Iran-linked crypto flows. The monitors, part of a 2023 $4.3 billion settlement with Binance over compliance failures, are tasked with ensuring the exchange improves its anti-money laundering and sanctions enforcement.