ABA issued a members-only staff analysis of the government-wide policy priorities for anti-money laundering and countering the financing of terrorism that the Financial Crimes Enforcement Network released June 30.
The Financial Crimes Enforcement Network today signaled that it intends to move ahead with a rulemaking to establish a no-action letter process.
The Financial Crimes Enforcement Network today issued government-wide priorities for anti-money laundering and countering the financing of terrorism policy.
At its annual Law Enforcement Awards ceremony, held virtually today, the Financial Crimes Enforcement Network recognized several state and federal law enforcement agencies for their work using information reported by financial institutions under the Bank Secrecy Act in its criminal investigations.
The Federal Financial Institutions Examination Council today released updates to its Bank Secrecy Act/anti-money laundering…
Federal agencies on Friday announced updates to their rulemaking agendas. Items on the agendas and…
The American Bankers Association filed comments today urging the federal banking agencies and the Financial Crimes Enforcement Network to provide additional guidance on how the 2011 “Supervisory Guidance on Model Risk Management,” or MRMG, works in conjunction with Bank Secrecy Act/anti-money laundering and Office of Foreign Assets Control compliance.
Ahead of the release of the president’s budget tomorrow, Treasury Secretary Janet Yellen told House appropriators that funding is needed for the Financial Crimes Enforcement Network to build its beneficial ownership database—something ABA has long advocated for.
In a significant move today, the Federal Reserve proposed new guidelines that it will use when evaluating requests for master accounts with the Fed or access to the agency’s financial services.
As the Financial Crimes Enforcement Network prepares to create a new beneficial ownership registry, ABA made several recommendations that should guide the agency as it develops the database—including that FinCEN ensure usability and ease of access for reporting companies, law enforcement and financial institutions.