As the nature of financial crime changes, with technology and AI increasingly used to perpetrate illegal acts, the IRS' crime fighting arm —IRS Criminal Investigation— is announcing a new program intended to improve how it interacts with financial institutions.
Called Feedback in Response to Strategic Threat —or CI-FIRST— the program unveiled Friday is intended to speed up subpoena requests, give banks better data on how to detect criminal activity and build out investigations faster and more efficiently.
