Key findings include:
➡️ Consistent Top Threats: Fraud, drug trafficking, cybercrime, human trafficking, human smuggling and corruption remain the largest generators of illicit proceeds in the United States;
➡️ Role of Professional Launderers: Criminal networks, including Chinese money laundering organisations (CMLNs), continue to facilitate large-scale laundering operations and increase the profitability of illicit activity;
➡️ Technology-Driven Risks: Digital assets, encrypted communications, social media and artificial intelligence (AI) are increasingly exploited to conduct fraud, communicate securely and obscure the origin of illicit funds;
➡️ Misuse of the Financial System: Criminals attempt to exploit a wide range of financial channels, including banks, cash-based sectors and digital assets, often using legal entities and professional intermediaries to disguise beneficial ownership (BO);
➡️ Rising Financial Impact: The median loss in sentenced money laundering cases has increased significantly in recent years;
➡️ National Security Implications: Illicit finance linked to transnational organised crime, narcotics trafficking and fraud poses a growing threat to the integrity of the US financial system; and
➡️ Informing Future Policy: The findings will feed into the forthcoming 2026 National Illicit Finance Strategy, which will outline policy priorities to address evolving threats.
✅ Financial institutions should review risk assessments and transaction monitoring frameworks to ensure they reflect the evolving threats identified in the NMLRA.