Cryptocurrencies and Exchanges Will Face Increased Regulatory Focus
Whatever the specifics, we can be certain that every business that deals with virtual currencies will be affected as well.
Browsing: Anti-money laundering
Five BSA Hot Topics for 2021
Moving from a ‘check the box’ mentality to a system that better protects consumers and banks.
ABA Analyzes FinCEN’s National Anti-Money Laundering Priorities
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.
FinCEN Signals It Will Move ahead With No-Action Letter Rulemaking
The Financial Crimes Enforcement Network today signaled that it intends to move ahead with a rulemaking to establish a no-action letter process.
FinCEN Issues National Anti-Money Laundering Priorities
The Financial Crimes Enforcement Network today issued government-wide priorities for anti-money laundering and countering the financing of terrorism policy.
FinCEN Recognizes Law Enforcement Successes Resulting from BSA Reporting
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.
Agencies Update BSA/AML Examination Manual
The Federal Financial Institutions Examination Council today released updates to its Bank Secrecy Act/anti-money laundering…
Agencies Update Regulatory Agendas
Federal agencies on Friday announced updates to their rulemaking agendas. Items on the agendas and…
ABA Urges Additional Clarity on Model Risk Management for BSA/AML Compliance
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.
Yellen: Funding Needed for FinCEN’s Beneficial Ownership Database, CDFIs
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.