Recorded on February 23, 2021
terror, and other types of illicit networks all need revenue
streams to survive. This involves control of financial flows from the point
of revenue generation through goal accomplishment. To some extent, many of these networks
will engage in the international money movement processes maintained by financial
institutions around the world in order to move the money in an efficient and
This presentation will describe the legitimate processes
used by illicit networks to move money through financial systems.
We will discuss:
• The role of the central banks and automated
clearing houses, how they function and the information they maintain about transactions are valuable in an investigation
• The "backbone of the financial network," SWIFT
• Correspondent banking
• "The Travel Rule" and
information sharing between banks involved in value transfer.
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The content, views, and opinions expressed in this presentation are
those of the individual presenters and do not represent official policy,
position, opinions, or views of NW3C.
Mike Loughnane, CFE, CAMS,
President, Loughnane, LLC