Browsing: FinCEN

Newsbytes FinCEN issues alert on COVID-19 tax credit fraud

The Financial Crimes Enforcement Network and IRS issued an alert for financial institutions on fraud schemes related to the employee retention credit, or ERC, available to businesses and tax-exempt organizations affected by the COVID-19 pandemic.

Newsbytes Banking regulators preview 2024 supervisory priorities

The areas of supervisory focus for banking regulators in 2024 will look a lot like their focus since the bank failures earlier this year, with asset liability management, credit risk, cybersecurity, and operational risk top of mind, representatives from the Federal Reserve, OCC and Treasury Department said.

Newsbytes International task force updates lists of countries with AML deficiencies

The Financial Action Task Force—an intergovernmental body that establishes international standards for anti-money laundering, countering the financing of terrorism and countering the financing of proliferation of weapons of mass destruction—has updated its lists of jurisdictions with strategic AML/CFT/CPF deficiencies.

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