Browsing: FinCEN

Compliance and Risk

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.

Compliance and Risk

In a comment letter yesterday, ABA criticized the Financial Crimes Enforcement Network’s recent cost-benefit analysis of its proposed customer due diligence rule, claiming that the analysis relies on unsubstantiated and overly optimistic assumptions about the potential benefits of the heightened requirements and fails to adequately identify and weigh the burden imposed on financial institutions.


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).

Compliance and Risk

Financial institutions should include IP addresses and other cyber-derived information in the Suspicious Activity Reports they file, Financial Crimes Enforcement Network Director Jennifer Shasky Calvery said today at a cybersecurity forum in New York.

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