A changing AML info-sharing landscape creates new risks
U.S. law enforcement agencies are deputizing—voluntarily or involuntarily—financial institutions to serve as their lead investigators.
Tag: Suspicious Activity Reports
FBI Fin Crimes Chief Calls for Dialogue with Regulators on SAR Objectives
Speaking at an industry event today, Aaron Tapp, section chief for the Federal Bureau of Investigation’s financial crimes section, told ...
OCC Finalizes Rule Allowing Exemptions from SAR Requirements
To help banks develop more efficient and effective Bank Secrecy Act compliance programs, the OCC finalized a rule that would ...
FinCEN Observes Increase in Wildlife Trafficking SARs
Suspicious activity reports related to wildlife trafficking—which includes the illicit trade of protected animals, animal parts and derivatives thereof in ...
FinCEN Issues Advisory on Economic Impact Payment Fraud
The Financial Crimes Enforcement Network today issued an advisory alerting banks to economic impact payment fraud. The advisory describes EIP ...
ABA Urges Interagency Coordination on SAR Exemption Rules
The American Bankers Association wrote to the federal banking agencies today urging them to pursue a single interagency rulemaking instead ...
Federal Banking Agencies Issue FAQs on Suspicious Activity Reporting
The federal banking agencies on Tuesday issued a set of frequently asked questions providing clarity about suspicious activity reporting and ...
Who Makes the Final Decision about Filing a SAR?
. . . and other questions in ABA’s Regulatory Policy and Compliance Inbox.
FDIC Issues Proposal to Allow Exemptions from SAR Requirements
To help banks develop more efficient and effective Bank Secrecy Act compliance programs, the FDIC today issued a proposal that ...
FBI Director: Cyber Criminals Targeting Banks’ Third Parties
When asked about threats specifically targeting banks, Federal Bureau of Investigation Director Christopher Wray urged banks to be wary of ...
