Browsing: Bank Secrecy Act

Compliance and Risk

The regulatory framework put in place to prevent money laundering and stop the financing of terrorist activity should be updated to reflect the changes that have taken place over the past several decades, banker Lloyd DeVaux, president and CEO of Sunstate Bank in Miami, Fla., said today in a hearing before the House Financial Services Committee.

Compliance and Risk

As the Financial Crimes Enforcement Network works to ensure that the financial system that is resistant to abuse and able to share valuable information with law enforcement, Acting Director Jamal El-Hindi today said at the ABA/ABA Money Laundering Enforcement Conference in Washington, D.C., that FinCEN would “think more creatively” about how it exercises its statutory authority.

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