Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that it has assessed a $1.2 billion penalty against Bank of America, N.A. (Bank of America) for its failure to mitigate and report priority national security risks, including Chinese money…
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The Financial Crimes Enforcement Network (FinCEN) is withdrawing the following proposed rules that would have imposed certain regulatory requirements on financial institutions related to certain digital assets, specifically convertible virtual currencies: …
Operation Economic Outcast Takes Unprecedented Action Against Sanctions Evasion Network Used by Iran
Today, as part of Operation Economic Outcast, the U.S. Department of the Treasury took unprecedented action against the A7 Network, a shadow banking network with ties to Russia used by the Iranian regime to evade sanctions. Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a rule…
WASHINGTON—Today, the U.S. Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network (FinCEN) led a FinCEN Exchange with global financial institutions to advance Operation Economic Outcast. The event armed financial institutions with the information they need…
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing a Whistleblower Bulletin in support of Operation Economic Outcast. FinCEN maintains a whistleblower incentive program for…
Today, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis identifying approximately $17.5 billion in suspicious financial activity potentially linked to…
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued answers to two new Frequently Asked Questions (FAQs) and updated one existing FAQ that address the use of state-issued mobile driver’s licenses (mDLs) and other government-issued verifiable digital…
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing an Alert to assist financial institutions in identifying and reporting procurement networks supporting Iran’s…
Urges Financial Institutions to be Vigilant and Report Suspicious Activity
WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published an…
WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) reissued a…
Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), together with the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of…
Today, under Operation Economic Outcast, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a rule that would revoke Banque Misr UAE’s correspondent banking access to U.S. financial institutions. FinCEN issued a notice of proposed rulemaking (NPRM)…
LOS ANGELES — On August 17, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) convened law enforcement and financial institutions for an engagement on health care benefits fraud, including the exploitation of hospice care services. Participants…
SAN FRANCISCO—On August 10, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) convened law enforcement and financial institutions for an information-sharing engagement to combat cartels.
The event was led by Gene Lange,…
WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis showing that financial institutions flagged nearly $5 billion linked…