WASHINGTON – The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a final rule under Section 311 of the USA PATRIOT Act that severs Bank of Dandong, a Chinese bank that acts as a conduit for illicit North Korean financial activity,…
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WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $2 million civil money penalty against…
WASHINGTON–The Financial Crimes Enforcement Network (FinCEN) today issued an advisory to alert financial institutions of widespread public corruption in Venezuela and the methods Venezuelan senior political…
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the issuance of revised Geographic Targeting Orders (GTOs) that require U.S. title insurance…
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney’s Office for the Northern District of California, assessed a $110,003,314…
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…
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…
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…
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $7 million civil money penalty (CMP) against…
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the renewal of existing Geographic Targeting Orders (GTO) that temporarily require U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential…
Washington, D.C. – The Financial Crimes Enforcement Network (FinCEN) has assessed a $184 million civil money penalty today against Western Union…
A U.S. person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year. For detailed information on filing as an…