FinCEN’s Blanco Urges Banks: Be Specific When Filing COVID-19 Related SARs
Banks filed more than 64,000 Suspicious Activity Reports referencing COVID-19 and related stimulus programs—about 71% of all coronavirus-related SAR filings, ...
Tag: Suspicious Activity Reports
ABA Urges FinCEN to Refine SAR Burden Calculation Methodology
While the Financial Crimes Enforcement Network’s effort to calculate and evaluate the burden of filing Suspicious Activity Reports is a ...
FinCEN Warns of Impostor, Money Mule Scams Connected with COVID-19
The Financial Crimes Enforcement Network today issued an advisory alerting financial institutions to imposter scams and money mule schemes connected ...
FinCEN Issues BSA/AML Guidance on Hemp-Related Businesses
The Financial Crimes Enforcement Network today issued guidance for financial institutions on how they can conduct due diligence on hemp-related ...
FinCEN to Update Methodology for Calculating Regulatory Burden of SARs
Bank Secrecy Act reporting institutions annually spend roughly $206 million and 5.4 million hours of work investigating, evaluating cases and ...
FinCEN Recognizes Law Enforcement Successes Resulting from BSA Reporting
The Financial Crimes Enforcement Network today recognized several state and federal law enforcement agencies for their work using information reported ...
FinCEN Issues Warning on COVID-19 Medical Scams, Notice on Reporting
The Financial Crimes Enforcement Network today issued an advisory on medical scams related to the coronavirus pandemic—the first in a ...
Podcast: Adding Value in AML with Tech, Talent
Two challenges for today's anti-money laundering professionals: focusing on high-value functions and eliminating false positives that consume unnecessary resources. Nicholas ...
ABA Addresses Crapo’s Concerns about Cannabis Banking Bill
After Senate Banking Committee Chairman Mike Crapo (R-Idaho) raised concerns last month about the ABA-supported SAFE Banking Act, ABA today ...
SAR Quality: Practical Tips to Enhance Reports for Law Enforcement
The relationship between anti-money laundering professionals and law enforcement has never been more important. AML professionals can follow these practical ...
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