The nation’s casinos and card clubs will be required to report suspicious activityunder a proposed rule issued today by the Department of the Treasury’s FinancialCrimes Enforcement Network. Suspicious activity involves financial transactions which acasino or card club suspects are linked to…
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For the first time since its inception, the Financial Action Task Force (FATF), theworld’s leader in promoting anti-money laundering controls, has made an in-depthanalysis of the possibilities of laundering in the gold market as well as money launderinginvolving non-financial professions such as…
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN)announced today that Trump Taj Mahal Associates (TTMA) has paid a civil money penalty of$477,000 for failing to file reports required by the Bank Secrecy Act (BSA). TTMA islocated in Atlantic City, New Jersey, where it…
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN)issued today a final rule that would extend regulations aimed at combating moneylaundering to card club establishments.
Most frequently found in California, card clubs typically offer facilities for gamingby…
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN)announced today a final rule and a proposed regulation aimed at significantly reducing thenumber of reports required to be filed by banks for large currency transactions. These tworegulations reflect a major effort to…
Treasury under Secretary for Enforcement Raymond W. Kelly has issued two GeographicTargeting Orders (GTOs) against money remitters in the New York Metropolitan area andPuerto Rico to stop drug money laundering to the Dominican Republic.
"The targeted money remitters in New York send more…
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) hasissued the first comprehensive study of money services businesses and their potentialvulnerability to money laundering. The study, commissioned by FinCEN and conducted by theconsulting firm of…
The Treasury’s Financial Crimes Enforcement Network (FinCEN) will hold four public meetings in July and August to give members of the financial services industry an opportunity to discuss the three proposed regulations announced on May 21…
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced today that Barnett Banks,Inc. (Barnett) has agreed to pay $100,000 to resolve charges thatit failed to file reports required by the Bank Secrecy Act (BSA).Barnett is headquartered in Jacksonville, Florida…
Calling the "U.S. commitment to combating money laundering at all levels of government outstanding," the Financial Action Task Force (FATF), the 26-nation organization created by the G-7 to address the global problem of money laundering, released a summary of its Mutual Evaluation of the U.S.…