On May 1, 2025, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert regarding suspicious activities linked to the illicit trade of oil and other commodities.
The alert is designed to help financial institutions detect and report transactions that may support sanctions evasion by countries such as Russia, Iran, and Venezuela.
It outlines the use of deceptive shipping practices, falsified documents, and front companies to obscure the origin and destination of these commodities—particularly oil. FinCEN also provides detailed red flags and reporting guidance to enhance financial monitoring and strengthen sanctions compliance.
To know more, click https://www.fcctimes.com/2025/05/01/u-s-treasury-uncovers-major-oil-smuggling-operation-tied-to-mexican-cartels/?utm_source=RZOLUTWebsite&utm_medium=FCCRegUpdate16May25
