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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 in…
Guidance
Anti-Money Laundering Programs and Records in English
Question:My money services business understands that Bank Secrecy Act regulations (31 C.F.R. Part 103) require, among other things, implementing a written anti-money laundering program and maintaining records of certain transactions. Because of the nature of my business, I would prefer to fulfill…
Federal Register Notice
Currency Transaction Report (CTR) FinCEN form 104
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…
Federal Register Notice
Notice of Availability of Regulatory Impact Assessment and Initial Regulatory Flexibility Analysis Regarding the Customer Due Diligence Requirements for Financial Institutions
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
Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 Reporting Requirements Under Section 104(e)
Federal Register Notice
Customer Due Diligence Requirements for Financial Institutions
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…
Case Examples
Individual Sentenced for Operating an Unlicensed Money Transmitting Business & Bankruptcy Fraud
An individual was recently sentenced in United States District Court to six months in prison for operating an unlicensed money transmitter business and for bankruptcy fraud. The subject was also ordered to forfeit over $25,000. This case was initiated after the review of numerous Suspicious…