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.
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.