04/29/2026
Prof. Jannace: Financial Services Role in Supporting National Security. Professor Wlilliam Jannace, Eisenhower School/National Defense University coauthored an article: "The Three Lines of Defense: The Financial Services Industry Role in Supporting National Security in an Era of Global Financial Crime."
It addresses the role that the US financial services industry plays in mitigating financial crime which has become a major national security threat, driven by globalization, technological change, and increasingly sophisticated criminal networks, including: transnational criminal organizations, terrorist groups, and hostile states to evade sanctions, fund weapons of mass destruction programs, and undermine traditional tools of financial statecraft. As a result, illicit finance has become a strategic instrument of power, utilized by malign actors-in some instances rivaling the traditional economic component of the national security framework known as DIME (Diplomatic, Information, Military, Economic).
This evolving asymmetric financial warfare has necessitated a much more whole-of-government approach to combat if effectively, including the traditional role that the financial industry plays with respect to anti-money laundering and sanctions compliance as well as enhanced data analytics coordination and oversight with respect to the digital ecosystem where malign activity is taking place today. This article explores this evolution and how the financial services industry plays a key role of the traditional Three Lines of Defense paradigm in risk management. This article is a follow up to a prior article published entitled “AML Compliance: A Matter of National Security, ” https://www.gfmi.com/articles/anti-money-laundering-compliance-a-matter-of-national-security/
https://www.gfmi.com/articles/the-three-lines-of-defense-the-financial-services-industry-role-in-supporting-national-security-in-an-era-of-global-financial-crime/,
Overview Financial crime has become a major national security threat, driven by globalization, technological change, and increasingly sophisticated criminal networks. Illicit finance—estimated at more than $3.1 trillion globally—enables transnational criminal organizations, terrorist groups, and...