A conversation about emerging financial crimes trends with ABA’s Ryan Rasske.
The Financial Crimes Enforcement Network today announced steps to safeguard the U.S. financial system against illicit North Korean financial activity.
The Financial Crimes Enforcement Network today released a revised list of the jurisdictions that are subject to countermeasures or enhanced due diligence due to anti-money laundering and counter-terrorist financing deficiencies (Section I), as well as jurisdictions with AML/CFT deficiencies that are working to correct them (Section II).
With state or local law in 29 states and the District of Columbia now permitting marijuana use for various purposes, a bipartisan group of 10 senators today asked the Financial Crimes Enforcement Network to issue additional guidance for financial institutions that provide indirect services to marijuana-related businesses.
As the Financial Crimes Enforcement Network works to ensure that the financial system that is resistant to abuse and able to share valuable information with law enforcement, Acting Director Jamal El-Hindi today said at the ABA/ABA Money Laundering Enforcement Conference in Washington, D.C., that FinCEN would “think more creatively” about how it exercises its statutory authority.
Automated collaboration among financial institutions can help banks, and law enforcement, fight financial crime more efficiently and effectively.
In a letter to the Financial Crimes Enforcement Network today, ABA expressed support for a proposal that would subject banks without a functional federal regulator to the same Bank Secrecy Act and anti-money laundering rules as federally regulated institutions.
In a joint comment letter yesterday, ABA and the Securities Industry and Financial Markets Association offered feedback on the Financial Crimes Enforcement Network’s proposal to clarify who is exempt from filing Reports of Foreign Bank and Financial Accounts, or FBAR, under the Bank Secrecy Act.
The Financial Crimes Enforcement Network today announced that Jennifer Shasky Calvery will step down as director at the end of May.
Financial Crimes Enforcement Network Director Jennifer Shasky Calvery today shed light on FinCEN’s recently issued Geographic Targeting Orders aimed at high-end, all cash real estate transactions Manhattan, N.Y., and Miami-Dade County, Fla.