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.
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.
Ten factors financial institutions should look out for in strengthening their OFAC compliance programs.
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 OCC today released its bank supervision operating plan for fiscal year 2020, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year that started Oct. 1.
…and more insights from ABA’s Regulatory Compliance and Policy Inbox in the latest issue of the ABA Banking Journal.