by James | Sep 9, 2024 | Fraud, Regulatory
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a comprehensive Financial Trend Analysis (FTA) on check fraud connected to mail theft, based on Bank Secrecy Act (BSA) data filed in the six months following FinCEN’s 2023...
by James | Aug 28, 2024 | Investment Advisors, Money Laundering, Regulatory
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has issued a final rule requiring certain investment advisers, including Registered Investment Advisers (RIAs) and Exempt Reporting Advisers (ERAs), to implement...
by James | Aug 19, 2024 | Banking, Trafficking
The FinCEN Supplemental Advisory (FIN-2024-A002) issued in June 2024, focuses on the ongoing opioid crisis, particularly the significant threat posed by illicit fentanyl and other synthetic opioids. The advisory urges U.S. financial institutions to remain vigilant in...
by James | Aug 8, 2024 | Regulatory, Technical Compliance
On June 28, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a proposed rule aimed at strengthening and modernizing financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT)...
by James | Aug 6, 2024 | Money Laundering, Regulatory
On January 1, 2021, Congress enacted the FY2021 National Defense Authorization Act (NDAA), bringing significant reforms to the U.S. anti-money laundering (AML) regime. The NDAA includes the Anti-Money Laundering Act of 2020 (AML Act) and the Corporate Transparency Act...
