The Financial Crimes Enforcement Network announced today the release of an interim adjustment to its Strategic Plan for Fiscal Years 2003 – 2008. This adjustment to the regular strategic planning cycle covers Fiscal Years 2006-2008 and…
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The Financial Crimes Enforcement Network (FinCEN) today issued Interpretative Guidance clarifying that a Money Services Business must establish, as a part of its anti-money laundering program, appropriate risk-based policies, procedures and…
William J. Fox, Director of the Financial Crimes Enforcement Network (FinCEN), announced today the appointment of Diane K. Wade as Associate Director for Administration and Communications. In this position, Ms. Wade will oversee FinCEN’s human resources, financial management, administrative…
William J. Fox, Director of the Financial Crimes Enforcement Network (FinCEN), announced today the appointment of Jack Cunniff as Associate Director for Client Liaison & Services. Mr. Cunniff will oversee FinCEN’s information technology and liaison initiatives in support of our partners…
The Financial Crimes Enforcement Network (FinCEN) and the Board of Governors of the Federal Reserve System announced today that they have jointly assessed a $10 million civil money penalty against AmSouth Bank of Birmingham, Alabama for its…
William J. Fox, Director of the Financial Crimes Enforcement Network (FinCEN), announced today the appointment of David M. Vogt as Associate Director for Analytics. Mr. Vogt will coordinate FinCEN’s analytic efforts to support its partners in the regulatory, law enforcement and international…
The Financial Crimes Enforcement Network has an obligation to ensure that data collected under the Bank Secrecy Act are properly collected, securely maintained and appropriately disseminated. Following the unauthorized and unlawful disclosures of certain Suspicious Activity Reports to the press…
The seventh issue of The SAR Activity Review – Trends, Tips & Issues, released today by the Financial Crimes Enforcement Network (FinCEN), provides analysis on the suspected use of United States-based shell corporations and foreign shell…
The Financial Crimes Enforcement Network (FinCEN) announced today that it has reinstated information sharing with its Mexican financial intelligence unit counterpart, the Unidad de Inteligencia Financiera (UIF), following the suspension FinCEN imposed on April 21, 2004. That suspension resulted…
The Financial Crimes Enforcement Network (FinCEN) announced today that it has awarded a contract to EDS, a global information technology services company, for the design, development, implementation, web hosting and support services of a dynamic new information storage and delivery system called…
It is the longstanding policy of the United States Department of the Treasury that persons residing or working in the United States should have access to U.S. banking services. This policy certainly encompasses the embassies and interests sections of foreign governments and their staffs. It is…
The Financial Crimes Enforcement Network (FinCEN) announced today that Riggs Bank N.A. consented to the assessment of the largest civil monetary penalty ever brought against a U.S. financial institution for violations under the Bank Secrecy…
"The unauthorized disclosure of suspicious activity reports (SARs), as detailed in recent press reports, is a violation of federal criminal law and is being reviewed by the appropriate law enforcement authorities.The release of this information by those to whom it was entrusted threatens…