Reported 3 days ago
The IRS's Criminal Investigation division has announced a modernization program called CI-FIRST, aimed at enhancing collaboration with financial institutions to address the rising threat of financial crimes facilitated by technology and AI. The initiative seeks to streamline subpoena requests and improve data-sharing, focusing on crimes related to drug trafficking and human smuggling. Recent statistics reveal significant financial crime activity, with billions identified in fraud and criminal asset seizures. In addition, there is ongoing legislative discussion regarding the thresholds for currency transaction reporting.
Source: YAHOO