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WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) held its third annual Law Enforcement Awards ceremony today at the U.S. Department of the Treasury.  FinCEN presented awards to law enforcement agencies that use Bank Secrecy Act reporting provided by financial institutions in their…
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In its April 14, 2017 order granting FinCEN's motion for summary judgment, the U.S. District Court for the District of Columbia lifted the stay blocking the implementation of the March 31, 2016 Final Rule imposing a prohibition on opening or maintaining correspondent accounts for, or on behalf of,…
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WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) and the U.S. Attorney’s Office for the Southern District of New York announced today the settlement of claims under the Bank Secrecy Act (BSA) against Thomas E. Haider, the former Chief Compliance Officer of MoneyGram International, Inc.…
| Advisory
On February 24, 2017, the Financial Action Task Force (FATF) updated its list of jurisdictions with strategic AML/CFT deficiencies.  These changes may affect U.S. financial institutions’ obligations and risk-based approaches with respect to relevant jurisdictions. As part of the FATF’s listing and…
| SAR Technical Bulletin
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WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $7 million civil money penalty (CMP) against Merchants Bank of California of Carson, CA for willful violations of several provisions of the Bank Secrecy Act (BSA). The Office of the Comptroller of the…