ABA, Groups Call for Inclusion of AML Reform Bill in Final Defense Spending Bill
ABA joined a broad coalition of advocacy groups from different industries in a letter urging House and Senate Armed Services ...
Tag: Bank Secrecy Act
OCC Outlines Supervision Priorities for 2021
The OCC today released its bank supervision operating plan for fiscal year 2021, identifying what each of the agency’s supervisory ...
For Community Banks, COVID-19 Brings Existential Concerns to Fore
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday ...
FinCEN’s Blanco Urges Banks: Be Specific When Filing COVID-19 Related SARs
Banks filed more than 64,000 Suspicious Activity Reports referencing COVID-19 and related stimulus programs—about 71% of all coronavirus-related SAR filings, ...
GAO Estimates Bank Costs for AML/BSA Compliance
Banks in a Government Accountability Office study spent between 0.4% and 2.4% of total 2018 operating expenses on anti-money laundering ...
Managing an AML Program During COVID-19
Effective anti-money laundering compliance processes during challenging times require team collaboration, committing to communication and paying attention to guidance.
FinCEN Considering BSA Changes to Improve Effectiveness of AML Programs
The Financial Crimes Enforcement Network is seeking public feedback on potential changes to the Bank Secrecy Act that would enhance ...
FinCEN Final Rule Establishes AML Requirements for Trust Companies, Private Banks
The Financial Crimes Enforcement Network has issued a final rule establishing minimum standards for anti-laundering programs for institutions lacking a ...
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 ...
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 ...
