FinCEN Updates
Financial Action Task Force Suspends the Membership of the Russian Federation, and Identifies Jurisdictions with Anti-Money Laundering and Combating the Financing of Terrorism and Counter-Proliferation Deficiencies Immediate Release March 09, 2023 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is informing U.S. financial institutions that the Financial Action Task Force (FATF), an […]
FinCEN Alert on Nationwide Surge in Mail Theft-Related Check Fraud Schemes Targeting the U.S. Mail Immediate Release February 27, 2023 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is issuing an alert to financial institutions on the nationwide surge in check fraud schemes targeting the U.S. Mail. Fraud, including check fraud, is the largest […]
FinCEN Invites Nominations for Membership on the Bank Secrecy Act Advisory Group (BSAAG) The Financial Crimes Enforcement Network (FinCEN) is inviting nominations for membership on the Bank Secrecy Act Advisory Group (BSAAG). BSAAG membership is open to financial institutions subject to the Bank Secrecy Act (BSA), trade groups with members […]
FinCEN Issues Alert on Potential U.S. Commercial Real Estate Investments by Sanctioned Russian Elites, Oligarchs, and Their Proxies Today, the Financial Crimes Enforcement Network (FinCEN) is issuing an alert to financial institutions regarding potential investments in the U.S. commercial real estate sector by sanctioned Russian elites, oligarchs, their family members, […]
FinCEN Issues Alert on Potential U.S. Commercial Real Estate Investments by Sanctioned Russian Elites, Oligarchs, and Their Proxies Today, the Financial Crimes Enforcement Network (FinCEN) is issuing an alert to financial institutions regarding potential investments in the U.S. commercial real estate sector by sanctioned Russian elites, oligarchs, their family members, […]
FinCEN Announces Inflation Adjustments to BSA Civil Monetary Penalties The Financial Crimes Enforcement Network (FinCEN) is issuing a final rule on January 19, 2023, to reflect annual inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended. This rule […]
FinCEN Identifies Virtual Currency Exchange Bitzlato as a Primary Money Laundering Concern in Connection with Russian Illicit Finance Action is the First Order Issued under Powerful New “Section 9714” Authority Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order that identifies the virtual currency exchange […]
FinCEN Issues Alert on Human Smuggling Along the Southwest Border of the United States Immediate Release January 13, 2023 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) issued an alert today to better support financial institutions in detecting financial activity related to human smuggling along the southwest border of the United States. The alert […]
FinCEN Requests Comments on the Proposed Report to Collect Beneficial Ownership Information from Reporting Companies On January 17, 2023, the Financial Crimes Enforcement Network (FinCEN) will publish a Paperwork Reduction Act notice (the “notice”) seeking comment on the mechanism that FinCEN proposes to use to collect beneficial ownership information from […]
FinCEN Requests Comments on the Proposed Application that Individuals Will Use to Obtain a FinCEN Identifier in Connection with the Beneficial Ownership Information Reporting Requirements On January 17, 2023, the Financial Crimes Enforcement Network (FinCEN) will publish a Paperwork Reduction Act notice (the “notice”) seeking comments to the application that […]
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