On 27 February, an Alert from FinCEN on mail theft-related check (cheque) fraud, which generally pertains to the fraudulent negotiation of cheques stolen from the US Mail. It says this type of fraud is the largest source of illicit proceeds in the US and represents one of the most significant money laundering threats to the US, as highlighted in the US Treasury’s most recent national money laundering risk assessment. The information contained in the Alert is derived from FinCEN’s analysis of BSA data, open-source reporting, and information provided by law enforcement partners.
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