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SIFMA Anti-Money Laundering & Financial Crimes Conference February 4, 2019   Good morning. Thank you for having me today. It is a pleasure to be at the SIFMA Anti-Money Laundering and Financial Crimes Conference. There are several things I would like to cover this morning: First, I will…

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced an assessment against UBS Financial Services, Inc. (UBSFS) for willful violations of the Bank Secrecy Act (BSA).  FinCEN assessed a $14.5 million civil money penalty, of which $5 million will be paid to the U.S.…

WASHINGTON—As a result of a working group established by the U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence and the Federal depository institutions regulators, the Financial Crimes Enforcement Network (FinCEN) and its regulatory partners today issued a joint…

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the issuance of revised Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate. The…

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) issued an advisory today to help financial institutions better detect and report potentially illicit transactions related to the Islamic Republic of Iran. The advisory is also intended to help foreign financial institutions better…