As the Financial Crimes Enforcement Network works to ensure that the financial system that is resistant to abuse and able to share valuable information with law enforcement, Acting Director Jamal El-Hindi today said at the ABA/ABA Money Laundering Enforcement Conference in Washington, D.C., that FinCEN would “think more creatively” about how it exercises its statutory authority.

The Financial Crimes Enforcement Network is issuing a final rule imposing a special measure against North Korea as a jurisdiction of primary money laundering concern under the USA Patriot Act.

Automated collaboration among financial institutions can help banks, and law enforcement, fight financial crime more efficiently and effectively.

Bank Secrecy Act-mandated reports play a critical role in helping stop cyber threats, the Financial Crimes Enforcement Network said in an advisory today that included a restatement of regulatory expectations for BSA reporting of cyber events.

In a letter to the Financial Crimes Enforcement Network today, ABA expressed support for a proposal that would subject banks without a functional federal regulator to the same Bank Secrecy Act and anti-money laundering rules as federally regulated institutions.

As part of the Obama administration’s continued opening toward Cuba, the Treasury Department today announced the easing of additional financial sanctions and limitations affecting interactions between the U.S. and Cuba.

As promised by Comptroller of the Currency Thomas Curry last week, the OCC today released guidance articulating its expectations for banks with respect to terminating foreign correspondent relationships.

In response to the “derisking” trend in anti-money laundering and Bank Secrecy Act compliance, the OCC will soon issue guidance that articulates its expectations for banks to routinely evaluate risk in their foreign correspondent banking portfolios, Comptroller of the Currency Thomas Curry said today.

BAFT -- ABA’s global transaction banking subsidiary -- today released guidance and best practices related to the Financial Action Task Force Recommendation 16, which requires the inclusion of certain beneficiary and originator information when sending wire transfers in an effort to prevent the movement of funds by terrorists and other criminals.

The OCC today released its bank supervision operating plan for fiscal year 2017, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year starting on Oct. 1.