Here’s how U.S. regulator FinCEN advises banks & lenders to spot sanctions evasion


The Financial Crimes Enforcement Network just issued Russia sanctions evasion “red flags” banks and lenders must look for and report per their obligations under the Bank Secrecy Act.

“All financial institutions—including those with visibility into cryptocurrency or CVC flows, such as CVC exchangers and administrators—should identify and report suspicious activity associated with potential sanctions evasion quickly and conduct appropriate, risk-based customer due diligence or enhanced due diligence where required.”

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FinCEN Advises Increased Vigilance for Potential Russian Sanctions Evasion Attempts

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