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Monday, February 6th, 2023

BAE Systems selected by Treasury Department to assist in investigating financial crimes from terrorist organizations, drug cartels

BAE Systems was recently selected by the U.S. Department of the Treasury (DoT) to assist its Office of Terrorism and Financial Intelligence (TFI) in protecting the nation’s financial systems against threats from terrorist organizations, drug cartels, and rogue actors.

The company is part of a group of federally-approved contractors that will be competing for a future task order contract worth approximately $135 million for assistance in researching, analyzing, and documenting financial trade to support federal investigations and prosecutions. These operations are a critical component of the DoT’s mission in enforcing its violations and sanctions programs.

Mark Keeler, acting president of BAE Systems, said the company’s financial crimes experts work alongside the government to investigate and track down illicit finance suspects at home and overseas and that it had a deep understanding of the revenue streams and financial tactics used by terrorist networks, which pose a threat to national security and international financial stability.

BAE Systems works in conjunction with international commercial financial institutions to build and refine defense-grade, anti-money laundering technologies. Its NetReveal suite, which is used by various global banks, government departments and insurers, works to detect and prevent fraud and financial crimes in real-time to minimize customer risk.

No timetable was provided by DoT as to when it would make a decision on the final task order contract.