In a comment letter filed this week, ABA and the Clearing House expressed their support to the Financial Crimes Enforcement Network’s goal on protecting the U.S. financial system from money laundering, terrorist financing and financial crimes, but offered suggestions on FinCEN’s proposal to impose special measures against Banca Privada d’Andorra.
Responding to industry concerns that their Bank Secrecy Act reporting goes unread or unused, the Financial Crimes Enforcement Network yesterday spotlighted six law enforcement cases in which prosecutors made effective use of BSA data to win. The inaugural Law Enforcement Awards were conceived as a way to show financial institutions that their reports are not “going
Thirty-two people involved in a racketeering enterprise that spanned from California, Minnesota, Ohio, and Puerto Rico have been arrested on fraud and money laundering charges.
The U.S. Department of the Treasury’s Office of Foreign Assets Control recently released its 23rd Terrorist Assets Report.
FinCEN on March 10 identified Banca Privada d’Andorra (BPA) as a foreign financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT Act.
The House Financial Services Committee’s Task Force to Investigate Terrorism Financing will hold a hearing on April 22 on global terrorism and terrorist financing.