VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today, in its First Quarter 2011 Mortgage Loan Fraud (MLF) analysis, reported that the number of MLF suspicious activity reports (SARs) rose to 25,485 up 31…
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Good afternoon. I think this conference - which brings together financial institutions, law enforcement and regulators - is a perfect forum for us to have a productive discussion on the work we are doing at the Financial Crimes Enforcement Network - known as FinCEN, as well as the value to…
Vienna, VA — The Financial Crimes Enforcement Network (FinCEN) today made a further announcement that a small subset of individuals with only signature authority over certain foreign financial accounts who are required to file a Report of Foreign Bank and Financial Accounts (FBAR) with respect…
As part of a joint effort to improve the quality of Bank Secrecy Act (BSA) data, FinCEN and the IRS have recently updated the validation of zip code fields to cover city, state, and zip code. The validation has been enhanced to verify that the city and state are consistent with the first five (5…
[Updated -- June 6, 2011] FinCEN is re-issuing Notice 2011-1 with a minor revision to clarify the scope of the administrative relief provided in Situation (2) of the Notice. The…
Introduction
Today I would like to speak about two distinct issues, both involving international information exchange, and analogies that one may draw between the two issues. First, I will describe some ongoing developments in FinCEN’s work with its direct foreign counterparts, known as…
In a letter to money services businesses (MSBs) dated April 27, 2011, the Financial Crimes Enforcement Network (FinCEN) requested that certain MSBs provide FinCEN with a list of their agents. The request applies to MSBs whose registration form (…