Regulators Preview Forthcoming BSA/AML Rule Changes
As FinCEN works to create a long-awaited database of beneficial ownership information—a key provision of the Anti-Money Laundering Act of ...
Tag: Know your customer
Bank Tech Trends for 2022
Banks that embrace innovation and harness the power of data and new technology—while remaining focused on customer service basics—will be ...
FDIC, FinCEN Announces Tech Sprint Focused on Digital Identity Proofing
The FDIC and the Financial Crimes Enforcement Network today announced a “tech sprint” to develop solutions for banks and regulators ...
World Bank, IMF Propose to Combat Money Laundering Across ‘Remittance Corridors’
As international regulators work to enhance cross-border payments, the World Bank and the International Monetary Fund today proposed a framework ...
ABA Recommends Standards for FinCEN Beneficial Ownership Registry
As the Financial Crimes Enforcement Network prepares to create a new beneficial ownership registry, ABA made several recommendations that should ...
A Field Guide to Coming AML/BSA Reforms
Recent legislative changes will keep banks’ Bank Secrecy Act officers busy for years to come. Here’s a CEO’s-eye view of ...
FinCEN Outlines Upcoming Work on Corporate Transparency Act
The Financial Crimes Enforcement Network’s Director of the Office of Regulatory Policy Barry Emmert today previewed the implementation process for ...
Biden to Seek Additional Funding for FinCEN’s Beneficial Ownership Database
President Biden is seeking a $191 million in funding for the Financial Crimes Enforcement Network—a $64 million increase from FY ...
FinCEN Seeks Input on Creation of Beneficial Ownership Database
As part of its efforts to implement provisions of the Anti-Money Laundering Act of 2021—the first significant changes to Bank ...
Congress Overturns Trump’s NDAA Veto, Enacting AML/BSA Reform
The House and Senate this week voted to overturn President Trump’s veto of the National Defense Authorization Act for fiscal ...
