Elizabeth Rosenberg, Assistant Secretary for Terrorist Financing and Financial Crimes at the U.S. Department of the Treasury, delivered a speech in which she discussed the importance of mitigating gaps in the U.S. anti-money laundering and counter-financing of terrorism (AML/CFT) regime and the link between effective AML/CFT and sanctions policy. She highlighted several gaps in the U.S. AML/CFT regime, including those related to beneficial ownership, real estate, and non-financial gatekeepers, and discussed efforts to address these deficiencies.
Rosenberg emphasized the need for a risk-based approach in AML/CFT compliance and encouraged financial institutions to proactively develop strategies to identify and mitigate illicit financial risks. She also stressed the importance of aligning resources to address the highest risks effectively.
In addition, Rosenberg discussed the U.S.’s sanctions policy, particularly related to Russia and its invasion of Ukraine. She highlighted the impact of sanctions on Russia’s economy and emphasized the importance of ongoing efforts to combat sanctions evasion. She noted that financial institutions play a crucial role in ensuring the effectiveness of sanctions policies and urged them to monitor, screen, and analyze trade and customs data to identify potential sanctions evasion activities.
Rosenberg concluded her speech by thanking the audience for their dedication to making financial systems safer and emphasized the shared responsibility of protecting financial systems from abuse and exploitation.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}