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The Financial Crimes Enforcement Network (FinCEN), Federal Deposit Insurance Corporation (FDIC), and the New York State Banking Department (NYSBD) today announced the assessment of civil money penalties of $12 million against Israel Discount Bank of New York for violations of federal and state…
Good afternoon. I’m very pleased to be speaking with you today. I have found that opportunities to engage in public-private dialogues of this sort are extremely important to our efforts to continue developing and maintaining an effective partnership. I have been the Director of the Financial…
The Financial Crimes Enforcement Network today issued guidance designed to assist mutual funds in complying with their suspicious transaction reporting requirement. Under a final rule, mutual funds must file reports with FinCEN that identify and describe transactions that raise suspicions of…
The Financial Crimes Enforcement Network is issuing these frequently asked questions to clarify the suspicious activity reporting obligations of investment companies pursuant to the applicable Bank Secrecy Act regulation located at 31 C.F.R. § 103.15 (“Reports by mutual funds of suspicious…
We are issuing this guidance to assist money services businesses in understanding the regulatory requirements regarding conducting independent reviews of their anti-money laundering programs.
The Bank Secrecy Act requires money services businesses to establish anti-money laundering…
Robert W. Werner, Director of the Financial Crimes Enforcement Network (FinCEN), announced today the selection of Edward J. Dorris as Chief Information Officer (CIO) and the Associate Director of FinCEN's Information and Technology Division. Mr. Dorris will oversee the technical infrastructure…
Chairman Shelby, Senator Sarbanes and distinguished members of the Committee, I appreciate the opportunity to appear before you today to discuss the Financial Crimes Enforcement Network’s (FinCEN) ongoing initiatives and efforts to combat money laundering and terrorist financing in the post 9/11…
Brian Ferrell, Chief Counsel of the Financial Crimes Enforcement Network, will be departing the agency at the end of August to become Assistant Vice President and Assistant General Counsel within the compliance group at The Hartford Financial Services Group, Inc., a financial services and…