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, ...
Tag: Suspicious Activity Reports
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 ...
Hsu assures Rep. Gottheimer OCC will defend preemption
As reported by Politico, Acting Comptroller of the Currency Michael Hsu sent a letter earlier this month responding to concerns ...
ABA submits comment letter on collection requirements for CTRs, SARs
FinCEN has not increased the burden estimate associated with filing CTRs, nor has it adjusted the burden estimate for filing ...
FinCEN releases FY 2023 Bank Secrecy Act data
FinCEN received approximately 4.6 million suspicious activity reports in fiscal year 2023, for an average of 12,600 reports a day, ...
FinCEN director offers tips for filing suspicious activity reports
Financial institutions can improve the value of their suspicious activity reports for law enforcement by taking steps such as providing ...
