In this episode of This Week in AML, Elliot Berman and John Byrne unpack a range of pressing developments in the financial crime prevention space. They begin with reflections on the U.S. government shutdown and its ripple effects, then dive into the newly released Trafficking in Persons Report—highlighting the disturbing use of AI in human trafficking. The conversation continues with FinCEN’s recent requests for comment on AML/CFT compliance costs and paperwork reduction, including insights into Section 314(a) data. They also explore AUSTRAC’s warning to Australian banks, the EU’s crackdown on beneficial ownership transparency, and the NYDFS leadership transition. The episode wraps with a look at declining U.S. money laundering prosecutions.