FinCEN Reminds Banks to Monitor for Suspicious Transactions Involving Opioids

The Treasury Department’s Financial Crimes Enforcement Network this week reminded banks and other financial institutions to monitor and report any suspicious transactions related to the illegal trade of fentanyl and the trafficking of other “synthetic opioids.” FinCEN, which issued the reminder to mark Overdose Awareness Week, noted that it published a June advisory urging banks to file suspicious activity reports if they suspect a transaction involves the sale of illegal chemicals and published a range of red flags for banks to monitor (see 2406200018).