FinCEN releases figures on use of Bank Secrecy Act reporting data
Bank Secrecy Act filings were used in IRS criminal investigations that led to $7.7 billion in asset seizures during the ...
Tag: Bank Secrecy Act
Treasury report recommends more BSA enforcement for ‘DeFi’ sector
Many existing decentralized finance services covered by the Bank Secrecy Act fail to comply with anti-money laundering and counter-terrorism financing ...
FinCEN issues alert for check fraud via USPS
Working with the U.S. Postal Inspection Service, FinCEN identified red flags to help banks detect, prevent and report suspicious activity ...
FinCEN issues alert on Russian activity in commercial real estate
The Financial Crimes Enforcement Network this week issued an alert to financial institutions on potential attempts by Russian elites to ...
Mobile apps: Ensuring BSA and FFIEC compliance
Protections for mobile apps must have the capability to recognize and block the tools that criminals use and abuse to ...
Compliance for 2023: What does the future hold?
With uncertainty the rule, the best advice is to have banks’ change-management processes ready for whatever comes.
FinCEN: Depository institutions played critical role in tracking Russian activity
In a report today, the Financial Crimes Enforcement Network said it was able to identify tens of billions of dollars ...
Demystifying beneficial ownership
Financial institutions should not wait for a central registry to come online. Banks benefit by becoming proactive right now.
Survey: Regulatory change remains top concern for banks
Keeping up with changing regulations was the top concern for U.S. financial services firms, according to Wolters Kluwer’s annual Regulatory ...
FinCEN report: Ransomware filings more than double from 2020 to 2021
The value of ransomware-related BSA filings in 2021 approached $1.2 billion—a 188% increase compared to the previous year.
