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AML/CFT BSA Rules and Regulation

The Fight Against Terrorism on U.S. Soil: Detecting Domestic Terrorism Financing

Detecting and reporting terrorist financing has been one of the more significant roles of financial crime professionals since the historic events of September 11, 2001. This concern has recently been emphasized with the release of the FinCEN AML and CFT National Priorities, which included terrorist financing (both international and domestic terrorism financing) as one of the eight priorities for the U.S.

The FinCEN priorities include the financing of international terrorism and domestic terrorism as a priority, citing the intelligence community’s assessment of domestic terrorism as a significantly evolving and elevated threat to our nation. Extremists from various groups, both from the left and from the right, can be equally dangerous. As with the September 11, 2001, attacks, hindsight into the financial transactions for such an event should be a learning tool in the FinCrime industry. During suspicious activity monitoring for domestic terrorism financing, investigators must be trained on the methodology and ideology of extremists.

Download this whitepaper to learn:

  • How the FBI defines domestic terrorism and categorization of domestic terrorism threat categories
  • Efforts to combat domestic terrorism threats, including the White House National Security Council’s four-pillar system
  • What financial institutions can do to combat domestic terrorism financing

With the accompanying regulations not yet written, what should financial institutions take away from the published FinCEN Priorities now? Watch our on-demand webinar, FinCEN AML/CFT Priorities: What Do They Mean for Your Institution?