FinCEN announced today the release of a revised CTRC (FinCEN Form 103) and BSA E-File Electronic filing specifications to be effective August 2008. The two documents accompanying this release…
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VIENNA, Va. - The Financial Crimes Enforcement Network issued today the latest edition of the SAR Activity Review - By The Numbers. This report presents a compilation of numerical data gathered from Suspicious Activity Reports (SARs) filed…
VIENNA, Va. - This week Bill S. Bradley was sworn in as the Financial Crimes Enforcement Network's (FinCEN's) Chief Counsel. He most recently served as Legal Counsel to the Treasury Department's Executive Office for Asset Forfeiture.
Mr. Bradley re-joined the United States Department of…
The Financial Crimes Enforcement Network (FinCEN) announced the assessment of a civil money penalty in the amount of $12 million against Sigue Corporation and Sigue, LLC, a money services business headquartered in San Fernando, California, for violations of the Bank Secrecy Act (BSA). Sigue,…
VIENNA, Va. - James H. Freis, Jr., Director of the Financial Crimes Enforcement Network (FinCEN), this week welcomed Peter Goodyear as FinCEN's Associate Director for Analysis and Liaison.
Mr. Goodyear - formerly a senior vice president at Citigroup - will oversee FinCEN's analysis of…
VIENNA, Va. – Since its launch exactly one year ago today, more than 18,000 people have subscribed to FinCEN Updates – the Financial Crimes Enforcement Network’s (FinCEN’s) free e-mail subscription management service. As of today, 18,071 members of the financial industry, the media and the…
Las Vegas, NV - Financial Crimes Enforcement Network (FinCEN) Director James H. Freis, Jr. today announced the publication of a detailed set of Frequently Asked Questions (FAQs) developed to assist the casino and gaming industry in complying with its responsibilities under the Bank Secrecy Act (…
Charlotte, N.C. - In a speech today to the Money Transmitter Regulators Association Annual Conference, James H. Freis, Jr., Director of the Financial Crimes Enforcement Network (FinCEN), announced the availability of a new reference on common errors seen in Suspicious Activity Reports (SARs).…
U.S. Treasurer Anna Escobedo Cabral will visit the Financial Crimes Enforcement Network (FinCEN) to announce the launch of outreach materials for Money Services Businesses (MSBs) in seven (7) foreign languages. The outreach materials, which are already available in English, will be available in…
The Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the Currency (OCC) today announced the assessment of concurrent civil money penalties, each $10 million, against Union Bank of California, N.A. (Union Bank ) of San Francisco, California, for violations of the…
FinCEN Issues a Warning Notice Against Fraudulent Stop Order Scams
The Financial Crimes Enforcement Network (FinCEN) announced today the issuance of a warning notice about an ongoing scam whereby individuals are using the Treasury or the FinCEN seal and…
The Federal Financial Institutions Examination Council (FFIEC) today released the revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revised manual reflects the ongoing commitment of the federal and state banking agencies and the Financial Crimes Enforcement Network…
VIENNA, Va. - The Financial Crimes Enforcement Network (FinCEN) announced today the issuance of a final rule implementing a key provision of Section 312 of the USA PATRIOT Act, clarifying the risk-based procedures that U.S. financial institutions should use in tailoring their enhanced due…
The Board of Governors of the Federal Reserve System and the Financial Crimes Enforcement Network (FinCEN) on Monday announced that they have concurrently assessed $20 million in civil money penalties against American Express Bank International (AEBI) of Miami, Florida for violations of the Bank…
VIENNA, Va. - James H. Freis, Jr., Director of the Financial Crimes Enforcement Network (FinCEN), today issued the following statement about the federal financial regulatory agencies' Interagency Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements:…