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.

The Financial Crimes Enforcement Network and the financial regulatory agencies today announced an exemption from the customer identification program rules for premium finance loans made by banks to commercial customers.

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.

As advocated by ABA, the Financial Crimes Enforcement Network today issued an administrative ruling to provide relief for institutions from applying the beneficial ownership rule to premium finance products that allow for cash refunds.

At its annual Law Enforcement Awards ceremony today, the Financial Crimes Enforcement Network recognized several state and federal law enforcement agencies for their work using information reported by financial institutions under the Bank Secrecy Act in their criminal investigations.

FinCEN’s rule on customer due diligence takes effect this May. Is your bank ready? 

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.

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.

The Financial Crimes Enforcement Network today issued a final rule severing ties between the U.S. financial system and the Chinese Bank of Dandong.

A conversation about emerging financial crimes trends with ABA’s Ryan Rasske.