Research & insights
Resources for Financial Crime Prevention
The Financial Crimes Enforcement Network (FinCEN) has issued an alert (FIN-2024-Alert003) to help financial institutions detect and report financing activities linked to the Iran-backed Lebanese militia and designated Foreign Terrorist Organization (FTO), Hizballah....
The Office of the Comptroller of the Currency (OCC) has published an AML sanctions consent order for Wells Fargo, highlighting substantial compliance challenges that remain. The comprehensive 28-page order outlines several critical areas requiring attention, including...
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...
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...
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...
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)...
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...
The official title of the USA PATRIOT Act is “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001.” The purpose of this Act is to deter and punish terrorist acts in the...
The Currency and Foreign Transactions Reporting Act of 1970, along with its amendments and related statutes, is collectively known as the Bank Secrecy Act (BSA). This Act authorizes the Department of the Treasury to impose reporting and other requirements on financial...
In recent years, the financial sector has introduced instant payment systems that allow users to send and receive funds almost instantly, at any time, on any day of the year. These systems, being developed in the United States and abroad, enable real-time transmission...
Virtual currencies are increasingly significant in the global economy, bringing greater exposure to sanctions risks, such as involvement by sanctioned individuals or entities in transactions. The virtual currency industry—including technology companies, exchangers,...
This Follow-Up Report (March 26, 2024) analyzes the United States’ progress in addressing the technical compliance deficiencies identified in its Mutual Evaluation Report. The United States has made significant progress in relation to Recommendation 24 on...
The American Gaming Association’s (AGA) annual State of the States report provides a comprehensive overview of the commercial gaming industry’s financial performance in 2023. It includes detailed analyses of the 36 jurisdictions with commercial gaming...
On July 26, 2024, the Financial Crimes Enforcement Network (FinCEN) issued an essential notice to financial institution customers about reporting beneficial ownership information. The Corporate Transparency Act mandates that certain entities, including small...
On May 16, 2024, the U.S. Department of the Treasury unveiled the 2024 National Strategy for Combating Terrorist and Other Illicit Financing (2024 Strategy). This critical document addresses the primary threats highlighted in the 2024 National Risk Assessments...