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US Agencies issue BSA Due Diligence for PEPs statement

Agencies Issue Statement on Bank Secrecy Act Due Diligence Requirements for Customers Who May Be Considered Politically Exposed Persons  Immediate Release August 21, 2020 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 […]

FinCEN corrects the record…

Correction to Administrative Ruling FIN-2018-R002: Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Automatic Rollovers or Renewals The Financial Crimes Enforcement Network (FinCEN) issued an administrative ruling on Wednesday, May 16, 2018 to provide a 90-day limited exceptive relief to covered financial institutions from […]

The FinCEN CDD Rule went into effect last Friday…

A little late to be posting this, but… FinCEN Reminds Financial Institutions that the CDD Rule Becomes Effective Today   Contact Steve Hudak (703) 905-5149 Immediate Release May 11, 2018 The Financial Crimes Enforcement Network (“FinCEN”) reminds financial institutions and their customers that the final rule, “Customer Due Diligence Requirements for […]