Tag Archives: FinCEN

FinCEN to Launch Innovation Initiative

The Financial Crimes Enforcement Network will launch a new innovation initiative to foster a better understanding of the opportunities and challenges of new technologies for enhancing Bank Secrecy Act and anti-money laundering efforts, FinCEN Director Ken Blanco told attendees at ABA’s Financial Crimes Enforcement Conference today.

Read More »

FinCEN Reissues Geographic Targeting Orders, Expands Coverage

The Financial Crimes Enforcement Network today reissued its revised geographic targeting orders temporarily requiring certain U.S. title insurance companies in specificied areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.

Read More »

Agencies Issue Statement on Sharing Resources for BSA Compliance

The financial regulatory agencies and the Financial Crimes Enforcement Network today issued a joint statement outlining how banks may enter into collaborative arrangements to share resources in order to more effectively manage their Bank Secrecy Act and anti-money laundering obligations.

Read More »

FinCEN Grants Relief from CDD Rule for CDs, Auto-Renewals

The Financial Crimes Enforcement Network on Friday announced that it would grant relief from beneficial ownership requirements for certificate of deposit rollovers and loans that renew automatically; loans where the renewal, modification or extension does not require underwriting; and safe deposit box renewals.

Read More »

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.

Read More »

Treasury Taps Ken Blanco to Lead FinCEN

The Treasury Department today announced that Ken Blanco, acting assistant attorney general for the Justice Department’s criminal division, has been selected to become the new director of the Financial Crimes Enforcement Network.

Read More »