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 ...
Tag: Suspicious Activity Reports
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 ...
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, ...
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 ...
