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| News
WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) today assessed a $300,000 civil money penalty against North Dade Community Development Federal Credit Union in Miami Gardens, Florida for significant Bank Secrecy Act (BSA) violations. North Dade’s anti-money laundering (AML)…
| Advisory
On October 24, 2014, 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…
| News
The Financial Crimes Enforcement Network (“FinCEN”), as the agency primarily responsible for administering the Bank Secrecy Act, is issuing this Statement to reiterate expectations regarding banking institutions’ obligations under the Bank Secrecy Act for money services businesses. Money services…
| Administrative Ruling
Dear [ ]: This responds to your letter of December 3, 2013, seeking an administrative ruling from the Financial Crimes Enforcement Network (“FinCEN”) on behalf of [ ] (the “Company”), about the Company’s possible status as a money services business (“MSB”) under the Bank Secrecy Act (“BSA”).…
| Administrative Ruling
Dear [ ]: This responds to your letter of January 6, 2014, seeking an administrative ruling from the Financial Crimes Enforcement Network (“FinCEN”) on behalf of [ ] (the “Company”), about the Company’s possible status as a money services business (“MSB”) under the Bank Secrecy Act (“BSA”).…
| Speech
Good morning. It is a pleasure to be joining all of you today for this important event. It is an honor for me to be here today with my friends and colleagues from agencies that the Financial Crimes Enforcement Network (FinCEN) has developed such strong partnerships with over the years. In…
| News
WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) announced today the issuance of a Geographic Targeting Order (GTO) that imposes additional reporting and recordkeeping obligations on certain trades and businesses located within the Los Angeles Fashion District. The GTO will…