News

The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking seeking comments from both the money services business industry and the banking industry on the issue of money services businesses obtaining appropriate access to banking services. Today's…

U.S. Treasury Secretary John W. Snow today named Robert W. Werner as the new Director of the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department. Werner currently serves as the Director of the Treasury's Office of Foreign Assets Control (OFAC).

"OFAC and…

William J. Fox announced today that he has resigned his position as Director of the Financial Crimes Enforcement Network and accepted a position with Bank of America as a Senior Compliance Executive for financial crimes. His last day as Director will be February 3, 2006.

Mr. Fox was…

The Financial Crimes Enforcement Network announced today that Oppenheimer & Company, Inc. ("Oppenheimer"), a securities broker-dealer based in New York, consented to the assessment of a $2.8 million civil penalty for violations of the Bank Secrecy Act.As of April 2002, brokers and dealers in…

Bank supervisory and penalty actions released Monday will require ABN AMRO Bank, N.V. to undertake remedial action in its worldwide banking operations and to pay $80 million in penalties to U.S. federal and state regulators. The Board of Governors of the Federal Reserve System, the New York…

A visit this week to Australia by the United States financial intelligence unit, the Financial Crimes Enforcement Network (FinCEN), demonstrated the commitment of both countries to strengthen international efforts in countering terrorist financing.Hosted by Australia’s financial intelligence…

Insurance Companies Required to Establish Anti-Money Laundering Programs and File Suspicious Activity Reports

Under two final rules announced today by the Financial Crimes Enforcement Network (FinCEN), certain U.S. insurance companies are required to both establish anti-money laundering…

On Friday, September 23, the Financial Crimes Enforcement Network (FinCEN) announced an apparent compromise of the “FinCEN QuikNews” system, a subscriber-based e-mail service that is part of the Financial Crimes Enforcement Network’s public website, which is hosted externally.

Bank…

The “FinCEN QuikNews” system, a subscriber-based e-mail service that is part of the Financial Crimes Enforcement Network’s public website and is hosted externally, appears to have been compromised this morning. We are investigating this incident.

This system resides outside FinCEN’s…

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision (the agencies), and the Conference of State Bank Supervisors are asking…

The Financial Crimes Enforcement Network announced today that Brian L. Ferrell has been appointed by the Treasury General Counsel to be the Chief Counsel of the Financial Crimes Enforcement Network. Mr. Ferrell will supervise the…

WASHINGTON – The Financial Crimes Enforcement Network and the Office of the Comptroller of the Currency announced today that they have each assessed a $24 million civil money penalty…

The federal banking and thrift agencies, along with the Financial Crimes Enforcement Network (FinCEN), today announced registration details for a live webcast of the Bank Secrecy Act/Anti-Money Laundering Examination Manual outreach event in New York on August 22.The webcast is open to all…