WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) today imposed a civil money penalty against BPI, Inc., a New Jersey money services business (MSB), for willful and repeated violations of the Bank Secrecy Act (BSA). BPI…
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WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) has reached an agreement with Mr. George Que, the former VIP Services Manager at the Tinian Dynasty Hotel & Casino in the Northern Mariana Islands, to permanently bar him from working in financial institutions as a result of…
WASHINGTON, D.C. – The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in close coordination with its Mexican counterpart, the Unidad de Inteligencia Financiera (UIF), today announced a series of reporting initiatives designed to greatly improve the…
WASHINGTON – The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today named FBME Bank Ltd., formerly known as the Federal Bank of the Middle East, as a foreign financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT…
WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a civil money penalty against Mian, Inc., doing business as Tower Package Store, a money services business (MSB). For almost three…
VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today finalized anti-money laundering (AML) regulations that will require the housing government sponsored enterprises (Housing GSEs) to develop programs for the prevention of money laundering and to file suspicious activity reports…
FinCEN has streamlined the process for electronic filing for individuals filing a Report of Foreign Bank and Financial Accounts (FBAR), FinCEN 114. The new process removes the requirement for registering and creating an account on the BSA E-Filing System prior to downloading, completing, and…
WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN), in coordination with the U.S. Department of Justice (DOJ), today issued guidance that clarifies customer due diligence expectations and reporting requirements for financial…
VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a civil money penalty against Saleh H. Adam, doing business as Adam Service, a money services business (MSB). A FinCEN…
WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN) today published two administrative rulings, providing additional information on whether a person’s conduct related to convertible virtual currency brings them within the Bank Secrecy Act’s (BSA) definition of a money…
WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN) today fined J.P. Morgan Chase Bank, N.A. $461 million for willfully violating the Bank Secrecy Act (BSA) by failing to report suspicious transactions arising out of Bernard L. Madoff’s decades-long, multi-billion dollar…
WASHINGTON, D.C. – To enhance and reinforce coordination with Mexican authorities on a variety of operational and regulatory anti-money laundering initiatives, FinCEN Director Jennifer Shasky Calvery and Mexico’s National Banking and Securities Commission (CNBV) President Jaime Gonzalez Aguade…
An updated version of the Discrete (online) Report of Foreign Bank and Financial Accounts (FBAR), FinCEN 114, is now available on the BSA E-Filing System. This version now provides the ability to select or enter a late filing reason and…