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What’s in Capital One’s wallet? $390 million less than there used to be…

FinCEN Announces $390,000,000 Enforcement Action Against Capital One, National Association for Violations of the Bank Secrecy Act Contact Office of Strategic Communications, 703-905-3770 Immediate Release January 15, 2021 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 […]

FinCEN recognizes that 15 days was just not enough for the recent Crypto NPRM’s comment period

FinCEN Extends Comment Period for Rule Aimed at Closing Anti-Money Laundering Regulatory Gaps for Certain Convertible Virtual Currency and Digital Asset Transactions Contact Office of Strategic Communications, 703-905-3770 Immediate Release January 14, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) announced today it is reopening the comment period for its recent proposed […]

Nominations for BSAAG now open, says FinCEN

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 […]

December 28, 2020: FinCEN reminds financial firms to look out for COVD vaccine scams and cyberattacks

FIN-2020-NTC4 December 28, 2020 FinCEN Asks Financial Institutions to Stay Alert to COVID-19 Vaccine-Related Scams and Cyberattacks The Financial Crimes Enforcement Network (FinCEN) is issuing this Notice to alert financial institutions about the potential for fraud, ransomware attacks, or similar types of criminal activity related to COVID-19 vaccines and their […]

December 11, 2020: FinCEN extends FBAR deadline

FinCEN Further Extends FBAR Deadline for Certain Financial Professionals The Financial Crimes Enforcement Network (FinCEN) today announced a further extension of time for certain Report of Foreign Bank and Financial Accounts (FBAR) filings in light of the notice of proposed rulemaking FinCEN issued on March 10, 2016, which proposes to […]

FinCEN held a Ransomware Exchange last week…

FinCEN Holds Virtual FinCEN Exchange on Ransomware Contact Office of Strategic Communications, 703-905-3770 Immediate Release November 12, 2020 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange with representatives from financial institutions, technology firms, third-party service providers, and federal government agencies to discuss growing concerns regarding ransomware, as […]