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Guidance
Unauthorized Disclosure of Suspicious Activity Reports

The Financial Crimes Enforcement Network has an obligation to ensure that data collected under the Bank Secrecy Act are properly collected, securely maintained and appropriately disseminated. Following the unauthorized and unlawful disclosures of certain Suspicious Activity Reports to the press…

Federal Register Notice
Customer Due Diligence Requirements for Financial Institutions
Guidance
Extension of a Grant of Conditional Exception to the "Travel Rule

FinCEN has extended for another two years a conditional exception to the strict operation of the "Travel Rule" (31 CFR 103.33(g)). The Travel Rule requires a financial institution to include certain information in transmittal orders relating to transmittals of funds of 3,000 or more. This…

Guidance
GUIDANCE ON INTERPRETING FINANCIAL INSTITUTION POLICIES IN RELATION TO RECORDKEEPING REQUIREMENTS UNDER 31 C.F.R. §103.29

The Financial Crimes Enforcement Network (FinCEN) receives numerous questions concerning compliance with the Bank Secrecy Act (BSA) recordkeeping requirement found in 31 C.F.R. §103.29. This section requires financial institutions to verify a customer’s identity and retain records of certain…

Guidance
IRS Offshore Voluntary Compliance Initiative – FinCEN Waiver from Civil Money Penalties for Failure to Timely File Report of Foreign Bank and Financial Accounts (Form TD F 90-22.1)

This serves notice that the Director of the Financial Crimes Enforcement Network (FinCEN) has granted a waiver from civil money penalties for violations of the Bank Secrecy Act, 31 U.S.C. 5314, and its implementing regulation, 31 C.F.R. Part 103.24, to persons who enter into settlement and…

Guidance
FinCEN Notice 2011-3 Administrative Relief for Sellers and Providers of Prepaid Access

FinCEN is issuing this Notice to provide administrative relief to sellers and providers of prepaid access that would otherwise be subject to certain Bank Secrecy Act ("BSA") requirements imposed by a final rule published on July 29, 2011 (the "Final Rule").1 As a result of this…

Federal Register Notice
Anti-Money Laundering Requirements -- Correspondent Accounts for Foreign Shell Banks; Recordkeeping and Termination of Correspondent Accounts for Foreign Banks
Federal Register Notice
Notice of Availability of Regulatory Impact Assessment and Initial Regulatory Flexibility Analysis Regarding the Customer Due Diligence Requirements for Financial Institutions
Case Examples
State & Federal Agencies Seize $8.9 Million—Brought Together by Gateway Alert Match Program

The Pennsylvania (Pa.) Office of Attorney General’s Asset Forfeiture and Money

Laundering Section conducted proactive targeting research on SARs that initiated a Pa. State Grand Jury Money Laundering investigation on two suspects.

FinCEN’s Gateway Program was utilized by the Pa.…

Case Examples
BSA Documents Lead to Repatriation & Seizure of over $9 Million Generated by Illegal Internet Pharmacy

In 2005, a federal task force initiated a 2-year multi-agency investigation against an online pharmaceutical distribution network, resulting in indictments against 18 individuals. The investigation was based on information received from a cooperating witness, who alleged that a pharmaceutical…