FinCen Places $5 Million Bounty on Russian Oligarch Assets

The US Treasury’s Financial Crimes Enforcement Network (FinCen) has offered $5 million to tipsters who can give information on transactions made by Russian oligarchs involving real estate, fine art, yachts and other luxury items.

“The Financial Crimes Enforcement Network (FinCEN) is issuing a second alert on the importance of identifying and quickly reporting suspicious transactions involving real estate, luxury goods, and other high-value assets of sanctioned Russian elites and their family members and those through which they act,” said the FinCen in their latest alert.

FinCen explained that real estate, luxury goods, and other high-value assets can be used by sanctioned Russian elites and their proxies to launder monetmy and circumvent sanctions and restrictions imposed in response to the Russian invasion of Ukraine.

FinCen provided red flag identification guides and advised banks and entities to be aware of them.

The US treasury said that they will offer rewards up to a maximum of $5,000,000 for information “leading to the (1) the restraint or seizure (2) forfeiture or (3) repatriation of stolen assets in an account at a U.S. financial institution (including a U.S. branch of a foreign financial institution), that come within the United States, or that come within the possession or control of any U.S. person,” through their Kleptocracy Asset Recovery Rewards Program.


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