House committee advances three ABA-backed bills
The House Financial Services Committee advanced three bills supported by ABA, covering regulatory tailoring for community banks, reauthorization of the ...
Tag: Suspicious Activity Reports
Treasury issues order, alert to Minnesota institutions on alleged fraud rings
FinCEN issued an alert urging financial institutions to identify and report fraud associated with federal child nutrition programs in Minnesota, ...
FinCEN targets money services businesses along southwest U.S. border
FinCEN announced it has taken multi-tiered actions against more than 100 money services businesses along the southwest U.S. border for ...
ABA, state associations support bills to raise BSA reporting thresholds
ABA and 52 state bankers associations expressed support for two bills that would raise Bank Secrecy Act reporting thresholds for ...
FinCEN identifies $9B in alleged Iranian shadow banking
FinCEN has identified approximately $9 billion of potential Iranian shadow banking activity that occurred through U.S. correspondent accounts in 2024, ...
Senators propose raising BSA reporting thresholds
A proposed Senate bill would raise the reporting thresholds for currency transaction reports and suspicious activity reports and require the ...
Banking regulators address ‘pain points’ in suspicious activity reporting
Banking regulators reiterated that there is no supervisory or Bank Secrecy Act requirement that financial institutions conduct a review of ...
FinCEN, agencies release FAQ on suspicious activity reporting requirements
Treasury Secretary Scott Bessent said FAQ is part a broader effort to address “pain points” for banks with AML reporting ...
Treasury official outlines principles for Bank Secrecy Act modernization
The Treasury Department is exploring ways to streamline the filing process for suspicious activity reports and currency transaction reports as ...
IRS launches new information sharing initiative for financial institutions
The law enforcement arm of the IRS has launched a new program to ensure financial institutions receive “quantifiable results” on ...
