Tag Archives: Bank Secrecy Act

FinCEN Expands Scope of Geographic Targeting Orders

The Financial Crimes Enforcement Network today expanded the scope of its Geographic Targeting Orders temporarily requiring certain U.S. title insurance companies in targeted areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.

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FinCEN Spotlights Victories Triggered by BSA Reports

As part of the Financial Crimes Enforcement Network’s ongoing efforts to demonstrate that financial institutions’ Bank Secrecy Act reporting is read and used, FinCEN today spotlighted six law enforcement cases that made effective use of BSA data to prosecute successfully.

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ABA: Proposed FBAR Changes Would Increase Reg Burden

In a joint comment letter yesterday, ABA and the Securities Industry and Financial Markets Association offered feedback on the Financial Crimes Enforcement Network’s proposal to clarify who is exempt from filing Reports of Foreign Bank and Financial Accounts, or FBAR, under the Bank Secrecy Act.

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ABA Compliance Center Inbox, May/June 2016

Q: Under the Anti-Tying Rule, would a bank be prohibited from requiring a person to have a deposit or loan account at the bank in order to get a safe deposit box? A: No. Requiring a customer to have an account relationship with the bank does not violate anti-tying rules. The anti-tying rule specifically allows a bank to condition both ...

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