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WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today proposed to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” in order to ensure that funding portals implement policies and procedures reasonably designed to achieve compliance with the BSA…
| Special Measure
| Guidance
These FAQs are in addition to, and supplement, the FAQs entitled “Final Rule – Definitions and Other Regulations Relating to Prepaid Access,” which were issued on November 2, 2011. The 2011 FAQs are found at http://www.fincen.gov/sites/default/files/shared/20111102.pdf. Question 1: De minimis cash…
| News
WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today imposed a civil money penalty (CMP) against Thriftway Food Mart and its owner and compliance officer, Kustandy Rayyan, for willful and repeated violations of the Bank Secrecy Act (BSA). Mr. Rayyan has admitted to conduct that…