In early 2021, the US Congress overturned the presidential veto on a last year's bill that called for new measures to combat money laundering. This law provides new technologies and financial resources to FinCen (Financial Crimes Enforcement Network), an agency under the US Department of the Treasury, which regulates and monitors suspicious financial transactions globally. The project has corporate transparency at its core, which requires all companies to reveal their owners and beneficiaries in the new FinCEN registry, creating a comprehensive data control system.
If this project is put into practice, events such as massive data leaks, as happened last year, could become more and more common. In 2020, FinCen unveiled more than 2,000 money laundering financial transaction documents across multiple countries. In all, illegal transactions amounted to 2 trillion dollars. While the benefit of uncovering illicit schemes is positive, the invasive US policy to monitor transactions in other countries can be a major problem and a real attack on the sovereignty of countries where there are supposedly happening illegal transactions.
Comment: So under cover of trying to prevent and/or prosecute digital money laundering, crimes, etc. the US government has just found another pretense from which more control and financial restriction may be exercised - on an international scale.