Cui Bono? Banks Count Down to Compliance with the Beneficial Ownership Rule
FinCEN’s rule on customer due diligence takes effect this May. Is your bank ready?
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FinCEN Considering Further Guidance on Beneficial Ownership Rule
As the banking industry prepares to implement the Financial Crimes Enforcement Network’s final beneficial ownership rule, FinCEN Acting Director Jamal El-Hindi today said that the agency is considering additional guidance to help address lingering questions from financial institutions ahead of the May 2018 compliance deadline.
FinCEN Issues AML, CIP Rules for Banks Without Federal Regulator
The Financial Crimes Enforcement Network today issued a proposed rule imposing — for the first time — anti-money laundering program and Customer Identification Program requirements for banks without a federal functional regulator.
FinCEN Issues Final Customer Due Diligence Rule
FinCEN yesterday released the text of its long-awaited final customer due diligence rule, which is expected to be published in the Federal Register on May 11.
Regulators Issue Guidance on CIP for Prepaid Cards
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.