Automated Technology to Replace ICE’s Manual Procedure on Tracking Trade-Based Money Laundering

The U.S. Immigration and Customs Enforcement has said it is working to incorporate automated analytics features into its process to check for trade-based money laundering.

The agency made the remarks in response to a report by the Department of Homeland Security’s inspector general that revealed the process was being carried out manually.

The same report noted that ICE had up to that point been unable to develop automation technology to detect trade-based money laundering schemes due to funding issues.

ICE said it was giving itself up to March 31, 2025, to implement the analytics capabilities, FedScoop reported.

The DHS IG also said in its report that ICE is undermanned in tracking trade activities with high money laundering risks.

In response, ICE said it has conducted a workforce survey, subject to approval by its chief financial officer, and has submitted a request for additional staffing. The agency expects to address the matter by March 29, 2024.