Financial Crime World

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Domestic Violent Extremism (DVE) and Emerging Threats

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Domestic violent extremism (DVE) has become a significant concern for law enforcement agencies due to its unique characteristics. DVE individuals often target accessible locations and symbols of the U.S. government, making it challenging for authorities to detect and disrupt their activities.

Characteristics of DVE Individuals

  • Target Selection: DVEs frequently focus on civilians, law enforcement officers, the military, houses of worship, retail locations, and mass public gatherings.
  • Insular Nature: Their limited interactions with others make it difficult for law enforcement to gather intelligence and predict their actions.
  • Evasion Detection: The selection of targets and their insular behavior challenge law enforcement agencies to detect and disrupt DVE activities.

The Growing Threat of Fraud

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Fraud has become a significant source of illicit proceeds in the United States, with estimates suggesting that it generates around $100 billion annually. Health care fraud alone is estimated to generate approximately $100 billion annually. Furthermore, the rise of internet-enabled scams and identity theft have made it increasingly challenging for authorities to combat this threat.

Types of Fraud

  • Health Care Fraud: Estimated to generate around $100 billion annually
  • Romance Scams: Internet-enabled scams targeting individuals seeking romantic relationships
  • Synthetic Identity Fraud: Creating fake identities using stolen or manipulated personal data
  • Identity Theft: Stealing and using someone else’s identity for malicious purposes

Countermeasures Against Emerging Threats

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The U.S. Department of Justice is actively pursuing COVID-19-related fraud schemes, while FinCEN has issued advisories on various types of financial crimes. The U.S. government also remains concerned about foreign intelligence entities and their proxies engaging in illicit financial practices to fund influence campaigns and facilitate espionage activity.

Government Initiatives

  • COVID-19 Fraud Schemes: The Department of Justice is aggressively pursuing COVID-19-related fraud schemes
  • FinCEN Advisories: FinCEN has issued advisories on BEC, email account compromise, and COVID-19-related financial crimes
  • Foreign Intelligence Entities: The U.S. government remains vigilant about foreign intelligence entities employing illicit financial practices

Transnational Criminal Organization Activity in the United States

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Transnational criminal organizations (TCOs) operating in the United States pose significant threats due to their involvement in a wide range of illicit activities, including cybercrime, drug trafficking, fraud, wildlife trafficking, human smuggling, and intellectual property theft.

Priority TCOs

  • Mexican TCOs: Engage in various illicit activities, including drug trafficking and money laundering
  • Russian TCOs: Involved in cybercrime, espionage, and other forms of financial malfeasance