The relationship between anti-money laundering professionals and law enforcement has never been more important. AML professionals can follow these practical steps to enhance the usefulness and effectiveness of their SARs.
Browsing: Anti-money laundering
The Financial Crimes Enforcement Network today reissued its geographic targeting orders temporarily requiring U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.
The Financial Crimes Enforcement Network today issued a final rule imposing a fifth special measure against Iran as a jurisdiction of primary money laundering concern under Section 311 of the USA Patriot Act.
The House today voted to pass the ABA-backed Corporate Transparency Act (H.R. 2513). The legislation, sponsored by Rep. Carolyn Maloney (D-N.Y.), would direct the Financial Crimes Enforcement Network to create a national database that banks could use to verify a business’s beneficial ownership information.
ABA and the state bankers associations today urged the House to pass the Corporate Transparency Act (H.R. 2513), which is scheduled for a vote as soon as tomorrow.
With a vote anticipated in the House next week on two Bank Secrecy Act/anti-money laundering bills, ABA joined a group of financial trade organizations in a letter to House leaders urging them to pass these much-needed, modernizing reforms.
Next week, the House is expected to vote on two ABA-backed, bipartisan bills to modernize the anti-money laundering/Bank Secrecy Act regime. The House vote continues what has been a busy fall on BSA reforms.
Four principles for mitigating the BSA/AML risks of banking higher-risk clients.
The American Bankers Association joined a group of financial trade associations in a letter to Senate Banking Committee leaders endorsing the Illicit Cash Act, a bipartisan bill introduced today that would create a secure beneficial ownership registry of legal entities, to be overseen by the Financial Crimes Enforcement Network and the Treasury Department.
On Sept. 25, the House passed a landmark cannabis bill: the ABA-backed SAFE Banking Act, which would provide clarity to financial institutions seeking to serve legitimate marijuana businesses.