National Strategy for Combating Terrorist and Other Illicit Financing

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June 7, 2022 | Originally published by U.S. Department of the Treasury on May 13, 2022

Illicit finance activity in the United States or transiting the U.S. financial system poses a systemic challenge to our financial integrity and national security. It distorts markets and victimizes ordinary Americans. This activity can include real estate purchases made with the proceeds of foreign corruption that price American buyers out, a U.S. bank unwittingly processing transactions tied to a North Korean missile procurement network, or a drug-trafficking organization moving cash proceeds from fentanyl sales to pay suppliers in China that fuel the drug epidemic in the United States. Ransomware attacks, meanwhile, have had a significant impact on our schools, hospitals, and other community institutions far from major financial centers. At the same time, corruption at home and abroad undermines the rule of law and transparency, erodes public trust in key institutions, and can allow authoritarian leaders to hide their illicit wealth and undermine global security and stability.

The National Strategy for Combating Terrorist and Other Illicit Financing (2022 Strategy) will guide U.S. government efforts to effectively address the most significant, illicit finance threats and risks to the U.S. financial system. It is organized around the principle that a strong and transparent financial system that denies illicit actors access to the funds and resources they need to carry out harmful activities, or to profit from their crimes, supports equitable economic growth, strengthens U.S. national security, and protects Americans.

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