This week, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) launched a new initiative as part of its public-private information sharing program. The series, titled "Combating and Obstructing Money Movements Associated with Narcotics and Drug Trafficking Organizations" (COMMAND), aims to engage community and regional financial institutions as key partners in the fight against illicit finance related to narcotics and drug trafficking organizations.
FinCEN Director Andrea Gacki emphasized the evolving threat posed by cartels and transnational criminal organizations (TCOs), stating, "Cartels and transnational criminal organizations have evolved into complex, adaptive threats that destabilize entire regions." She highlighted their involvement in activities such as human trafficking and the flow of fentanyl into the United States, which directly challenge national security. Gacki underscored the importance of collaboration between the public and private sectors in addressing this threat and expressed gratitude for the partnership with the Texas Department of Banking in launching COMMAND.
Deputy Director Jimmy Kirby led COMMAND events on June 24 in McAllen, Texas, and June 27 in El Paso, Texas. Both cities are near the U.S. southwest border, making them vulnerable to cartel activities such as narcotics trafficking, human trafficking, smuggling, and violent crimes.
During the launch event, FinCEN representatives visited a key port of entry in El Paso to meet with local, state, and federal law enforcement officials. This visit aimed to strengthen relationships and support critical investigations through Bank Secrecy Act information.
This marks FinCEN's second Exchange event in El Paso within a year. The COMMAND initiative aligns with Executive Order 14157, which classifies certain cartels as foreign terrorist organizations.
The FinCEN Exchange program is a voluntary public-private partnership that brings together stakeholders from law enforcement agencies and financial institutions. It seeks to protect national security by combatting money laundering through dialogue that focuses on high-impact activities. The program began in 2017 and was codified under the Anti-Money Laundering Act of 2020.
