The Financial Crimes Enforcement Network is issuing this advisory to U.S. financial institutions so that they may better guard against an increasingly prevalent money laundering threat involving the smuggling of bulk U.S. currency into Mexico. This advisory warns U.S. financial institutions of…
Members of the media may email inquiries or interview requests to press@fincen.gov.
If you are not a member of the media, please visit the FinCEN contact page.
WASHINGTON - The Financial Crimes Enforcement Network (FinCEN) and the Office of Thrift Supervision (OTS) announced today that each has assessed a $10 million civil money penalty against BankAtlantic of Fort Lauderdale, Florida, for violations of the Bank Secrecy Act. OTS also issued a Cease and…
Please note: During the process of developing this guidance, the federal banking agencies were also consulted. Banks that borrow securities through an agent lender in the manner described below may rely on this guidance in implementing their customer identification programs.
…
The Financial Crimes Enforcement Network is issuing this advisory to U.S. financial institutions so that they may guard against a potential money laundering threat involving Belarusian government senior regime elements (including senior executives in state-owned enterprises), acting individually…
1. If a business only cashes its own employees’ payroll checks, is it a money services business?
As a service to its employees, Business A cashes employee payroll checks issued to the employees by Business A. It does not cash any other checks. These checks may be cashed…