As U.S.-based AML professionals, we are often at risk of focusing on international jurisdictions when it comes to identifying high-risk geographies. However, implementing county-specific targeting within our risk models can help identify U.S. persons facilitating illicit money flows and other suspicious activity.
Geo-linking customer addresses to listed High Intensity Drug Trafficking Areas (HIDTA) and High Intensity Financial Crimes Areas (HIFCA) is a critical component of money laundering prevention and detection. However, the county is often not captured as a data element during customer on-boarding processes. In order to leverage the HIDTA and HIFCA information, companies must convert all of the counties to cities and zip codes.
A&M and our partners are uniquely equipped to convert and implement the appropriate county and city data into companies' KYC, risk scoring, and transaction monitoring systems to help minimize U.S. AML risk.
Today, White House Office of National Drug Control Policy (ONDCP) Director Jim Carroll released the largest-ever amount of annual baseline funding for its High Intensity Drug Trafficking Areas (HIDTA) Program. More than $266 million will be disbursed to 29 regional HIDTA Programs in 50 States, Washington, DC, Puerto Rico, and the U.S. Virgin Islands, which is more than $2 million higher than the previous year’s funding level. The HIDTA Program is the Nation’s leading effort to coordinate the action and priorities of Federal, State, local, and tribal law enforcement partners in disrupting and dismantling drug trafficking organizations.