Browsing: Compliance and Risk

Compliance and Risk FinCEN, Commerce: New Term for Reporting of Export Control Evasion

In a joint notice, the Financial Crimes Enforcement Network and the Commerce Department’s Bureau of Industry and Security announced a new reporting term, “FIN-2023-GLOBALEXPORT,” for financial institutions to reference when filing Suspicious Activity Reports related to global evasion of U.S. export controls beyond the Russia-related circumstances that were the subject of two previous notices.

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