The Financial Crimes Enforcement Network (FinCEN) last week published an analysis of financial trends involving Russian oligarchs and how U.S. financial institutions have aided in the identification of more than $30 billion worth of sanctioned Russians’ assets.
U.S. financial institutions are required to flag suspicious financial activity by filing Bank Secrecy Act (BSA) reports to the Treasury Department. Reports involving Russian dirty money have been investigated by the Russian Elites, Proxies, and Oligarchs (REPO) Task Force, led by the Treasury and Department of Justice.
