FinCEN Final Rule Establishes AML Requirements for Trust Companies, Private Banks

The Financial Crimes Enforcement Network has issued a final rule establishing minimum standards for anti-laundering programs for institutions lacking a ...

FinCEN Statement Outlines Approach to BSA Enforcement

Compliance and Risk

August 18, 2020

The Financial Crimes Enforcement Network today issued a statement describing its approach to Bank Secrecy Act enforcement and the factors ...

FinCEN Issues FAQs on Customer Due Diligence

Compliance and Risk

August 3, 2020

The Financial Crimes Enforcement Network today published three frequently asked questions regarding customer due diligence requirements.

FinCEN Warns of COVID-19-Related Cyber Fraud

Compliance and Risk

July 30, 2020

The Financial Crimes Enforcement Network issued an advisory alerting financial institutions to several types of cybercrime and cyber-enabled crime connected ...

House Votes to Include ABA-Backed AML Provision in Defense Bill

Compliance and Risk

July 20, 2020

With a bipartisan majority of 336 to 71, the House today voted to add ABA-advocated anti-money laundering provisions to the ...

FinCEN Alerts Banks to Virtual Currency Scam Involving Twitter Accounts

Cybersecurity

July 16, 2020

The Financial Crimes Enforcement Network today warned financial institutions about a recent high-profile scam through which fraudsters exploit prominent Twitter ...

ABA: More Detail Needed in FinCEN Analysis of CTR Burden

Compliance and Risk

July 13, 2020

A recent estimate by the Financial Crimes Enforcement Network of the total cost to file currency transaction reports “significantly underestimates” ...

FinCEN Warns of Impostor, Money Mule Scams Connected with COVID-19

Compliance and Risk

July 7, 2020

The Financial Crimes Enforcement Network today issued an advisory alerting financial institutions to imposter scams and money mule schemes connected ...