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FINTRAC’s updating its guidance…

Publication of Updated and New Guidance FINTRAC has updated its guidance on compliance program requirements, methods to verify the identity of persons and entities, third party determination requirements, and reporting terrorist property to reflect regulatory amendments coming into force on June 1, 2021, and has updated its FAQ about domestic politically exposed persons and heads of international […]

FinCEN renews the Real Estate GTOs again

FinCEN Reissues Real Estate Geographic Targeting Orders for 12 Metropolitan Areas Contact: Office of Strategic Communications, 703-905-3770Immediate Release April 29, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell […]

Finanstilsynet issues new AML report

Seven bids for strengthened fight against money laundering Better tools for customer awareness, increased access to government data and sharing of risk flags between financial institutions. These are some of the proposals in the Danish Financial Supervisory Authority’s new report, where the Authority provides a number of examples of how […]

FinCEN and federal regulators want your input on risk management models, AML & sanctions

Agencies Issue Statement and Request for Information on Bank Secrecy Act/Anti-Money Laundering Compliance Immediate Release April 09, 2021 The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, today issued a joint statement addressing how risk management principles described in the “Supervisory […]

New FinCEN process for UBO reporting requirement

FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement Contact Office of Strategic Communications, 703-905-3770 Immediate Release April 01, 2021 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 implementation of the beneficial […]