Financial Regulators Clarify BSA/AML Requirements Regarding Politically Exposed Persons
The federal financial regulatory agencies today issued a joint statement addressing how financial institutions should apply a risk-based approach to ...
Tag: Anti-money laundering
FinCEN Statement Outlines Approach to BSA Enforcement
The Financial Crimes Enforcement Network today issued a statement describing its approach to Bank Secrecy Act enforcement and the factors ...
Financial Regulators Clarify Use of Cease and Desist Orders in BSA/AML Enforcement
The federal financial regulatory agencies today issued a joint statement addressing how they will address noncompliance with the Bank Secrecy ...
ABA Urges FinCEN to Refine SAR Burden Calculation Methodology
While the Financial Crimes Enforcement Network’s effort to calculate and evaluate the burden of filing Suspicious Activity Reports is a ...
House Votes to Include ABA-Backed AML Provision in Defense Bill
With a bipartisan majority of 336 to 71, the House today voted to add ABA-advocated anti-money laundering provisions to the ...
ABA: More Detail Needed in FinCEN Analysis of CTR Burden
A recent estimate by the Financial Crimes Enforcement Network of the total cost to file currency transaction reports “significantly underestimates” ...
What Are the Biggest Challenges Facing the AML and Financial Crimes Communities?
The pandemic pointed out three major problems for risk professionals. Here is how to solve them.
State AGs Express Support for Bill to Create Beneficial Owner Registry
Forty-two state attorneys general wrote to Senate Banking Committee leaders today in support of S. 2563, the Illicit Cash Act, ...
FinCEN Issues BSA/AML Guidance on Hemp-Related Businesses
The Financial Crimes Enforcement Network today issued guidance for financial institutions on how they can conduct due diligence on hemp-related ...
Banking Trade Groups Call for Inclusion of AML/CFT Bill in NDAA
In a letter to Senate Armed Services Committee leaders this weekend, ABA joined six other financial trade organizations calling for ...
