Menu Home

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 […]

FinCEN publishes report on its Innovation Hours program

Innovation Hours Report Highlights Program’s Impact and Outlines Its Role in Supporting FinCEN’s Future Innovation Efforts The Financial Crimes Enforcement Network (FinCEN) today issued a report on its Innovation Hours Program, a key element of FinCEN’s broader Innovation Initiative. The FinCEN Innovation Initiative is a multilayered approach to ensure our […]

FinCEN Exchange discusses US SAR Statistics

FinCEN Exchange Brings Together Public and Private Stakeholders to Discuss Bank Secrecy Act Suspicious Activity Reporting Statistics Contact Office of Strategic Communications, 703-905-3770 Immediate Release March 23, 2021 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, […]

FinCEN issues Art and Antiquities Notice

FinCEN Informs Financial Institutions of Efforts Related to Trade in Antiquities and Art The Financial Crimes Enforcement Network (FinCEN) is issuing this Notice to inform financial institutions about (1) the Anti-Money Laundering Act of 2020 (the AML Act)1 efforts related to trade in antiquities and art, (2) select sources of […]

Published today on KYC360 (riskscreen.com)

My new article Checking the Bitcoin Box. It’s about the December 2020 FinCEN Notice of Proposed Rulemaking (NPRM) that would make banks and MSBs keep records of transactions over $3000 and report transactions over $10,000 (aggregations over a 24-hour period, too) involving cryptocurrency and “legal tender digital assets” (LTDA – […]

FinCEN gives us more time again to respond to the crypto NPRM…

FinCEN Extends Reopened Comment Period for Proposed Rulemaking on Certain Convertible Virtual Currency and Digital Asset Transactions Contact Office of Strategic Communications,703-905-3770 Immediate Release January 26, 2021 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 […]

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 […]