Regulatory priorities for the Treasury Department in combating illicit finance include closing the legal and regulatory loopholes that bad actors exploit and increasing transparency in the real estate sector, Under Secretary for Terrorism and Financial Intelligence Brian Nelson said.
Browsing: Terrorism financing
The Financial Action Task Force—an intergovernmental body that establishes international standards for anti-money laundering, countering the financing of terrorism and countering the financing of proliferation of weapons of mass destruction—has updated its lists of jurisdictions with strategic AML/CFT/CPF deficiencies.
FinCEN issued an alert to help financial institutions identify funding streams for the terrorist organization Hamas.
The Treasury Department is seeking public input regarding illicit finance and national security risks posed by digital assets.
The federal banking agencies and the Financial Crimes Enforcement Network today issued a statement reminding banks of the risk-based approach to assessing customer relationships and conducting customer due diligence.
Treasury’s strategy identifies four priorities to address the most significant illicit finance threats to the U.S. financial system.
As FinCEN works to create a long-awaited database of beneficial ownership information—a key provision of the Anti-Money Laundering Act of 2020—regulators today reminded banks that they must continue to adhere to existing beneficial ownership requirements.
As part of its work to implement the Anti-Money Laundering Act of 2020, the Financial Crimes Enforcement Network has issued a request for information seeking feedback on how it can streamline, modernize and update anti-money laundering and countering the financing of terrorism rules in the U.S.
The American Bankers Association joined eight financial trade associations in a letter of strong support for the 2021 National Defense Authorization Act, which includes several critical improvements to anti-money laundering rules.
The Financial Crimes Enforcement Network today issued a final rule imposing a fifth special measure against Iran as a jurisdiction of primary money laundering concern under Section 311 of the USA Patriot Act.