WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a $450,000 civil money penalty against Michael LaFontaine, former Chief Operational Risk Officer at U.S. Bank National Association (U.S. Bank), for his failure to prevent violations of the Bank Secrecy Act (BSA) during his tenure. U.S.
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) welcomes Michael Mosier as its new Deputy Director and Digital Innovation Officer. As Deputy Director, Mr. Mosier oversees FinCEN’s wide-ranging work to protect the financial integrity and national security of the United States. As FinCEN’s first Digital Innovation Officer, Mr. Mosier will advance FinCEN’s engagement with emerging technology and financial innovation.
On March 13, 2020, President Trump declared a National Emergency in response to COVID-19. FinCEN requests financial institutions affected by the COVID-19 pandemic to contact FinCEN and their functional regulator as soon as practicable if a COVID-19-affected financial institution has concern about any potential delays in its ability to file required Bank Secrecy Act (BSA) reports.
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FinCEN is the U.S. Financial Intelligence Unit