Josh Macdiarmid

Special Agent, Money Laundering Unit, FBI
11:00 AM – 12:15 PM

The Future of FinCrime Threats Jan 28

Mules, Pros, and Whales - Money Laundering's Changing Ecosystem

Like much of the legitimate business world, money launderers faced a crisis when COVID shutdowns and pandemic safeguards disrupted their typical operations. But money launderers, especially sophisticated ones, will never let a crisis go to waste - instead, they innovated and adapted, using lockdowns to expand alternate money laundering channels or create new ones. Organized crime rings and professional money launderers turned in particular to money mule networks, often recruited unwittingly from those newly unemployed or scammed on social media. This rise of online money mule rings is blurring the lines between fraud and money laundering, and creating new challenges for financial institutions and law enforcement.

In this session, hear from experts from the FBI and the US Department of Justice on:

    • The steps they're taking to combat mule networks
    • How mules intersect with higher-level professional laundering operations
    • What you can do to assist in the ever-evolving battle with launderers

Jackie Blasei-Freed

Josh Macdiarmid