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Yesterday, an ANPRM – today, a NPRM…

FinCEN Issues Proposed Rule for Beneficial Ownership Reporting to Counter Illicit Finance and Increase Transparency Contactpress@fincen.govImmediate ReleaseDecember 07, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued a Notice of Proposed Rulemaking (NPRM) to implement the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). The proposed rule is designed […]

GTOs are not enough: FinCEN issues ANPRM for the real estate sector

FinCEN Launches Regulatory Process for New Real Estate Sector Reporting Requirements to Curb Illicit Finance Contactpress@fincen.govImmediate ReleaseDecember 06, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) announced today an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a potential rule to address the vulnerability of the U.S. real estate market […]

FinCEN Notice on Environmental Crimes

FinCEN Issues Notice on Environmental Crimes and Related Financial Activity The Financial Crimes Enforcement Network (FinCEN) issued a Notice today to raise awareness of an upward trend in environmental crimes and associated illicit financial activity. The Notice provides financial institutions with specific suspicious activity report (SAR) filing instructions, and highlights […]

FinCEN Issues updated Ransomware Advisory

FinCEN Releases Updated Advisory on Ransomware and the Use of the Financial System to Facilitate Ransom Payments In connection with a set of actions announced today by the Department of the Treasury and focused on disrupting criminal ransomware actors, the Financial Crimes Enforcement Network (FinCEN) has released an update to […]

FBAR Relief for Disaster Victims – thanks, FinCEN

NoticeOctober 5, 2021FinCEN Provides FBAR Relief to Victims of Recent Natural Disasters; Filers Affected by Recent Natural Disasters Have Until December 31, 2021 to File WASHINGTON, D.C. –– FinCEN announced today that victims of Hurricane Ida, the California Wildfires, Tennessee Severe Storm and Flooding, Michigan Severe Storms, Flooding, and Tornadoes, […]

FinCEN wants to regulate old stuff…

FinCEN Launches Regulatory Process For New Antiquities Regulations  Contact Strategic Communications, 703-905-3770 Immediate Release September 23, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a range of questions related to the implementation of amendments to the Bank Secrecy […]

FinCEN Enforcement Action – BitMEX pays $100,000,000 for Willful BSA Violations

FinCEN Announces $100 Million Enforcement Action Against Unregistered Futures Commission Merchant BitMEX for Willful Violations of the Bank Secrecy Act ContactOffice of Strategic Communications, 703-905-3770Immediate ReleaseAugust 10, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penaltyin the amount of $100 million against BitMEX, one of the oldest and […]