Financial Crime World

Financially Troubled Waters: A Growing Crime Wave in the United States Minor Outlying Islands

Deputy Assistant Attorney General, Criminal Division, Anthony Morabito raises concerns over the surge in financial crimes in the US Minor Outlying Islands (USMI)

WASHINGTON D.C. – Financially motivated crimes are on the rise in the United States Minor Outlying Islands (USMI), including American Samoa, Guam, the Commonwealth of the Northern Mariana Islands (CNMI), and the U.S. Virgin Islands, according to latest reports from the Department of Justice (DoJ).

Concerns over the Surge in Financial Crimes

During a press briefing, Deputy Assistant Attorney General, Criminal Division, Anthony Morabito, expressed serious concerns over the surge in financial crimes in these isolated Pacific territories. Morabito cited the increasing complexity of global financial markets and the ease with which criminals can exploit jurisdictional nuances as contributing factors.

Types of Financial Crimes

The nature of these financial crimes includes:

  • Money laundering
  • Bank fraud
  • Wire fraud
  • Other white-collar offenses

Notable Incidents

One notable incident occurred in the Commonwealth of the Northern Mariana Islands, where a group of individuals was arrested for their involvement in a large-scale money laundering scheme. The scheme is believed to involve funds from narcotic sales and other illicit sources.

Economic Challenges

The rise in financial crimes comes as USMI economies have experienced significant challenges, compounded by the global economic downturn brought about by the COVID-19 pandemic.

Combating Financial Crimes

The Department of Justice is urging local authorities, as well as federal and international partners, to increase their efforts to combat financial crimes and prevent their negative economic and societal impacts.

Global Threat

This issue extends far beyond the borders of the USMI, as financial crimes pose a serious threat to both local communities and the stability of the global financial system.

DoJ’s Commitment

The Department of Justice, through its offices in Washington D.C. and the USMI, will continue its efforts to ensure that those who choose to exploit the financial systems of these territories for their personal gain are brought to justice.

Protecting American Interests

Morabito reiterated the Department of Justice’s commitment to protecting the financial interests of the American people, regardless of where those interests may lie.