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 ...
Tag: Know your customer
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 ...
Senate Approves Defense Bill That Includes Critical BSA/AML Changes
By a bipartisan vote of 84 to 13, the Senate this afternoon passed the National Defense Authorization Act for fiscal ...
House Clears NDAA, Paving Way for BSA/AML Changes
By a bipartisan vote of 335 to 78 tonight, the House passed the National Defense Authorization Act for fiscal year ...
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