In a joint comment letter yesterday, ABA and the Securities Industry and Financial Markets Association offered feedback on the Financial Crimes Enforcement Network’s proposal to clarify who is exempt from filing Reports of Foreign Bank and Financial Accounts, or FBAR, under the Bank Secrecy Act.
Browsing: Bank Secrecy Act
Under the Anti-Tying Rule, would a bank be prohibited from requiring a person to have a deposit or loan account at the bank in order to get a safe deposit box? No. Requiring a customer to have an account relationship with the bank does not violate anti-tying rules. The anti-tying rule specifically allows a bank
The OCC today announced that Donna Murphy has been named deputy comptroller for compliance risk.
Financial Crimes Enforcement Network Director Jennifer Shasky Calvery today shed light on FinCEN’s recently issued Geographic Targeting Orders aimed at high-end, all cash real estate transactions Manhattan, N.Y., and Miami-Dade County, Fla.
In a comment letter today, ABA criticized the Financial Crimes Enforcement Network’s proposed revisions to the Bank Secrecy Act Currency Transaction Report form.
Lower risk doesn’t necessarily mean lower profits. Banks must proactively update their AML strategies to align with a growth trajectory.
The federal financial regulators, along with the Financial Crimes Enforcement Network, today issued guidance to depository institutions on how to apply customer identification programs to the prepaid cards they issue.
The federal banking agencies are having discussions with the Financial Crimes Enforcement Network about guidance on how financial institutions can serve marijuana-related businesses, an OCC official said today during a regulatory roundtable at the ABA Government Relations Summit.
The Financial Crimes Enforcement Network yesterday issued a proposal clarifying who is exempt from filing Reports of Foreign Bank and Financial Accounts, or FBAR, under the Bank Secrecy Act.
The OCC today issued a bulletin updating the procedure by which banks may respond to potential noncompliance with BSA compliance program requirements or repeat or uncorrected BSA compliance problems.