Agencies Issue Statement on Bank Secrecy Act Due Diligence Requirements for...
WASHINGTON—The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the Office of the Comptroller of...
View ArticleFinCEN Issues Final Rule to Require Customer Identification Program,...
WASHINGTON— To ensure consistent Bank Secrecy Act (BSA) coverage across the banking industry, the Financial Crimes Enforcement Network (FinCEN) today issued a final rule that requires minimum standards...
View ArticleFinCEN Seeks Comments on Enhancing the Effectiveness of Anti-Money Laundering...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to...
View ArticleFinCEN Selects Felicia Swindells to Lead the Bureaus Policy Division
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is proud to announce that Felicia Swindells will serve as Associate Director of the bureau’s Policy Division. Ms. Swindells will oversee...
View ArticleFirst Bitcoin Mixer Penalized by FinCEN for Violating Anti-Money Laundering Laws
WASHINGTON —The Financial Crimes Enforcement Network (FinCEN) has assessed a $60 million civil money penalty against Larry Dean Harmon, the founder, administrator, and primary operator of Helix and...
View ArticleAgencies Invite Comment on Proposed Rule under Bank Secrecy Act
The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board today invited comment on a proposed rule that would amend the recordkeeping and travel rule regulations under the Bank...
View ArticleFinCEN Holds Virtual FinCEN Exchange on Ransomware
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange with representatives from financial institutions, technology firms, third-party service providers,...
View ArticleFinCEN and Federal Banking Agencies Clarify BSA Due Diligence Expectations...
WASHINGTON—In coordination with the Federal Banking Agencies, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a joint fact sheet to provide clarity to...
View ArticleFinCEN Director Emphasizes Importance of Information Sharing Among Financial...
WASHINGTON—Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco today discussed how information sharing is critical to identifying, reporting, and preventing financial crimeread more
View ArticleFinCEN Extends Comment Period for Rule Aimed at Closing Anti-Money Laundering...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) announced today it is reopening the comment period for its recent proposed rulemaking regarding certain transactions involving convertible...
View ArticleFinCEN Announces $390,000,000 Enforcement Action Against Capital One,...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced that Capital One, National Association (Capital One) has been assessed a $390,000,000 civil money penalty for engaging in...
View ArticleFinCEN Extends Reopened Comment Period for Proposed Rulemaking on Certain...
WASHINGTON— The Financial Crimes Enforcement Network (FinCEN) announced today that it has submitted for publication in the Federal Register an Extension Notice , which will lengthen the reopened...
View ArticleFinCEN Exchange Brings Together Public and Private Stakeholders to Discuss...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange event to discuss Bank Secrecy Act (BSA) filing statistics for low-dollar, voluntarily-filed...
View ArticleFinCEN Launches Regulatory Process for New Beneficial Ownership Reporting...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the...
View ArticleFinCEN Announces Acting Director and New Deputy Director
WASHINGTON—Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco today announced several leadership changes impacting the bureau. Director Blanco announced he will depart FinCEN on...
View ArticleFinCEN to Host Innovation Hours Program Workshop on Privacy Enhancing...
WASHINGTON — The Financial Crimes Enforcement Network (FinCEN) will host a special virtual FinCEN Innovation Hours Program on September 9, 2021, focusing on the important role of privacy-preserving...
View ArticleFinancial Action Task Force Identifies Jurisdictions with Anti-Money...
WASHINGTON— The Financial Crimes Enforcement Network (FinCEN) is informing U.S. financial institutions that the Financial Action Task Force (FATF), an intergovernmental body that establishes...
View ArticleFinCEN Completes Assessment on the Use of No-Action Letters
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has completed a report on its assessment of whether to establish a process for the issuance of no-action letters in response to inquiries...
View ArticleFinCEN Issues First National AML/CFT Priorities and Accompanying Statements
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued the first government-wide priorities for anti-money laundering and countering the financing of terrorism (AML/CFT) policy (the...
View ArticleMessage from the FinCEN Director: 180-Day Update on AML Act Implementation
WASHINGTON—Financial Crimes Enforcement Network (FinCEN) Acting Director Michael Mosier today announced FinCEN’s delivery of two key requirements pursuant to the Anti-Money Laundering of 2020 (the “AML...
View ArticleFinCEN Welcomes First-Ever Chief Digital Currency Advisor and First Director...
WASHINGTON—Financial Crimes Enforcement Network (FinCEN) Acting Director Michael Mosier today announced leadership additions to the bureau. Michele Korver, who led a distinguished career at the United...
View ArticleSecond FinCEN Exchange on Ransomware to Take Place in August
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced it will convene a FinCEN Exchange in August 2021 with representatives from financial institutions, other key industry...
View ArticleFinCEN Announces New Acting Director
WASHINGTON—Financial Crimes Enforcement Network (FinCEN) Acting Director Michael Mosier today announced he will depart FinCEN at the end of the week for a new opportunity, after serving as the...
View ArticleFinCEN Announces $100 Million Enforcement Action Against Unregistered Futures...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty in the amount of $100 million against BitMEX, one of the oldest and largest convertible virtual currency...
View ArticleFinCEN Holds Second Virtual FinCEN Exchange on Ransomware
WASHINGTON —The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange with representatives from financial institutions, technology firms, third-party service providers,...
View ArticleFinCEN to Host Innovation Hours Program Workshop on Digital Identity Services...
WASHINGTON— The Financial Crimes Enforcement Network (FinCEN) will host a special virtual FinCEN Innovation Hours Program on October 14, 2021, focusing on the important role of digital identity to...
View ArticleFinCEN Renews Real Estate Geographic Targeting Orders for 12 Metropolitan Areas
The terms of this Order are effective beginning November 1, 2021, and ending on April 29, 2022. GTOs continue to provide valuable data on the purchase of residential real estate by persons possibly...
View ArticleFinCEN Holds FinCEN Exchange on Environmental Crimes and Related Financial...
Topics discussed included illicit financial flows related to wildlife trafficking, illegal logging, illegal fishing, illegal mining, and waste and hazardous substances trafficking, and possible...
View ArticleFinCEN Launches Regulatory Process for New Real Estate Sector Reporting...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) announced today an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a potential rule to address the vulnerability...
View ArticleFinCEN Seeks Comments on Modernization of U.S. AML/CFT Regulatory Regime
Today, FinCEN is issuing a request for information (RFI) Federal Register :: Public Inspection: Review of Bank Secrecy Act Regulations and Guidance seeking comments on ways to streamline, modernize,...
View ArticleFinCEN Announces $8 Million Civil Money Penalty against CommunityBank of...
The Financial Crimes Enforcement Network (FinCEN) today announced that it has assessed an $8 million civil money penalty on CommunityBank of Texas, N.A. (CBOT) for willful violations of the Bank...
View ArticleFinCEN Analysis Reveals Upward Trend of SARs Related to Wildlife Trafficking
Wildlife trafficking is a major transnational organized crime that fuels corruption, threatens biodiversity, damages fragile ecosystems, and can have a significant negative impact on public health and...
View ArticleFDIC and FinCEN Launch Digital Identity Tech Sprint
Brian Sullivan, FDIC 202-412-1436 brsullivan@fdic.gov Jayna Desai, FinCEN 703-905-3770 Jayna.Desai@fincen.gov FDIC: PR-3-2022.read more
View ArticleFinCEN Statement Regarding Beneficial Ownership Information Reporting and...
The Financial Crimes Enforcement Network (FinCEN) notes that the comment period to the December 8, 2021 notice of proposed rulemaking (NPRM) requiring the reporting of beneficial ownership information...
View ArticleFinCEN Issues Proposed Rule for Suspicious Activity Report Sharing Pilot...
The pilot program would permit a financial institution with a SAR reporting obligation to share SARs and information related to SARs with the institution’s foreign branches, subsidiaries, and...
View ArticleJoint Release: Federal Agencies Launch Joint Effort to Alert Online Daters...
CFTC, Donna Faulk-White: Dfaulk-white@cftc.gov CFPB, Raul Cisneros: press@consumerfinance.gov DHS/ICE, Mike Alvarez: icemedia@ice.dhs.gov U.S. Postal Inspection Service, Jessica Adams:...
View ArticleFDIC and FinCEN Open Registration for Digital Identity Tech Sprint
Brian Sullivan, FDIC 202-412-1436 brsullivan@fdic.gov Jayna Desai, FinCEN 703-905-3770 Jayna.Desai@fincen.govread more
View ArticleFinCEN Provides Financial Institutions with Red Flags on Potential Russian...
WASHINGTON —The Financial Crimes Enforcement Network (FinCEN) today issued a FinCEN Alert , advising all financial institutions to be vigilant against potential efforts to evade the expansive sanctions...
View ArticleFinCEN Announces Actions to Support REPO Multilateral Task Force and Ongoing...
Takes Steps to Increase Information Sharing with Task Force Countries, Enhances Engagement with Financial Institutions, and Issues a New Alert on Russian Oligarchs, Elites, and Their Family...
View ArticleFinCEN Assesses $275,000 Civil Money Penalty against A&S World Trading for...
WASHINGTON— The Financial Crimes Enforcement Network on March 31 assessed a $275,000 civil money penalty on A&S World Trading, Inc., d/b/a Fine Fragrance (A&S) for willful violations of the...
View ArticleFDIC and FinCEN Highlight Three Teams in Digital Identity Tech Sprint
Brian Sullivan, FDIC 202-412-1436 brsullivan@fdic.gov Jayna Desai, FinCEN 703-905-3770 Jayna.Desai@fincen.govread more
View ArticleFinCEN Issues Advisory on Kleptocracy and Foreign Public Corruption
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an advisory on kleptocracy and foreign public corruption , urging financial institutions to focus their efforts on detecting...
View ArticleFinCEN Renews and Expands Real Estate Geographic Targeting Orders
The terms of the GTOs are effective beginning April 30, 2022, and ending on October 26, 2022. The GTOs continue to provide valuable data on the purchase of residential real estate by persons possibly...
View ArticleFinCEN Announces $140 Million Civil Money Penalty against USAA Federal...
Specifically, USAA FSB admitted that it willfully failed to implement and maintain an anti‑money laundering (AML) program that met the minimum requirements of the BSA from at least January 2016 through...
View ArticleFinCEN Issues Advisory on Elder Financial Exploitation
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is issuing an advisory to alert financial institutions to the rising trend of elder financial exploitation (EFE).read more
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View ArticleFinCEN Issues Final Rule for Beneficial Ownership Reporting to Support Law...
WASHINGTON—Today, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) took a historic step in support of U.S. government efforts to crack down on illicit finance and enhance transparency...
View ArticleFinCEN Issues Notice of Proposed Rulemaking Regarding Access to Beneficial...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued a Notice of Proposed Rulemaking (NPRM) that would implement provisions of the Corporate Transparency Act (CTA) that govern the...
View ArticleAnnual FinCEN Program Recognizes Law Enforcement Cases Supported by BSA Data
WASHINGTON —The Financial Crimes Enforcement Network (FinCEN) held its annual ceremony earlier this month to honor the recipients of the FinCEN Director’s Law Enforcement Awards for 2022. The law...
View ArticleNew FinCEN Analysis of BSA Data Reveals Trends on the Financial Activity of...
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis today on the financial activity of Russian oligarchs. The report focuses on trends seen in Bank Secrecy...
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