FinCEN: Fraud Schemes Pegged to Remote Environments, Pandemic News
Financial Crimes Enforcement Network Director Kenneth Blanco today outlined several coronavirus-related trends FinCEN is seeing in cyber crime.
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FinCEN Reissues Real Estate Geographic Targeting Orders
The Financial Crimes Enforcement Network today reissued its geographic targeting orders temporarily requiring U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.
OCC Supports FinCEN’s Approach to BSA Compliance During Pandemic
The OCC today issued a statement of support for the Financial Crimes Enforcement Network’s approach to Bank Secrecy Act compliance during the coronavirus pandemic
FinCEN Issues Statement on Bank Secrecy Act Reporting During Pandemic
Recognizing the operational challenges many banks are facing due to COVID-19, FinCEN today issued a statement regarding Banks’ Secrecy Act obligations during the pandemic.
FATF Upgrades Assessment of U.S. Regarding Beneficial Ownership Framework
In a significant development for the industry, the Financial Action Task Force recently upgraded its assessment of the United States’ anti-money laundering and counter-terrorism compliance framework.
FinCEN Issues Statement on BSA Reporting, Illicit Activity in Wake of Coronavirus Pandemic
The Financial Crimes Enforcement Network today reminded banks to communicate promptly with FinCEN and their primary regulator if they experience delays in filing Bank Secrecy Act reports due to the coronavirus pandemic.
New Analysis from FinCEN Notes Uptick in Elder Financial Exploitation
The number of Suspicious Activity Reports related to elder financial exploitation has risen dramatically over the past several years, as seniors face increasing threats from both domestic and foreign actors, according to an analysis released last night by the Financial Crimes Enforcement Network.
SAR Quality: Practical Tips to Enhance Reports for Law Enforcement
The relationship between anti-money laundering professionals and law enforcement has never been more important. AML professionals can follow these practical steps to enhance the usefulness and effectiveness of their SARs.
FinCEN Reissues Real Estate Geographic Targeting Orders
The Financial Crimes Enforcement Network today reissued its geographic targeting orders temporarily requiring U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.
House Passes ABA-Advocated AML Modernization Bill in Bipartisan Vote
The House today voted to pass the ABA-backed Corporate Transparency Act (H.R. 2513). The legislation, sponsored by Rep. Carolyn Maloney (D-N.Y.), would direct the Financial Crimes Enforcement Network to create a national database that banks could use to verify a business’s beneficial ownership information.