Public Consultations
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 […]
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 […]
Public consultation on FATF draft guidance on a risk-based approach to virtual assets and virtual asset service providers The Financial Action Task Force (FATF) is updating its Guidance on the risk-based approach to virtual assets (VAs) and virtual asset service providers (VASPs). The FATF originally published this Guidance in June 2019 when […]
Consultation now open on Rules for AML/CTF reforms 27 January 2021 Reforms have been made to strengthen Australia’s anti-money laundering and counter-terrorism financing laws. The reforms, known as Phase 1.5, will increase the resilience of our financial system against criminal threats, while making it easier for businesses to understand and […]
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 […]
FinCEN Requests Comments on Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions and for Private Banking Accounts On September 29, 2020, the Financial Crimes Enforcement Network (FinCEN) published in the Federal Register a 60-day notice to renew the Office of Management and Budget (OMB) control number assigned to […]
From the recent Advanced Notice of Advanced Rulemaking (ANPRM): Question 1: Does this ANPRM make clear the concept that FinCEN is considering for an “effective and reasonably designed” AML program through regulatory amendments to the AML program rules? If not, how should the concept be modified to provide greater clarity? […]
ANPRM = Advance Notice of Proposed Rulemaking From the ANPRM, until it gets into the nitty-gritty… Specifically, FinCEN is considering regulatory amendments that would explicitly define an “effective and reasonably designed” AML program as one that: Identifies, assesses, and reasonably mitigates the risks resulting from illicit financial activity — […]
FinCEN Seeks Comments on Enhancing the Effectiveness of Anti-Money Laundering Programs Contact Strategic Communications, 703-905-3770 Immediate Release September 16, 2020 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 pertaining to potential regulatory amendments under the Bank […]
Between 1 September 2020 and 28 February 2021, the Minister for Foreign Affairs will be considering the renewal of designations for targeted financial sanctions and/or declarations for travel bans of persons and entities that are due to expire under the following autonomous sanctions regimes: · the Democratic People’s Republic of Korea; […]
