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JPMorgan Admits Violation of the Bank Secrecy Act for Failed Madoff Oversight; Fined $461 Million by FinCEN

WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN) today fined J.P. Morgan Chase Bank, N.A. $461 million for willfully violating the Bank Secrecy Act (BSA) by failing to report suspicious transactions arising out of Bernard L. Madoff’s decades-long, multi-billion dollar…

FinCEN Notice 2014-1 FBAR Filing Requirement - Extended Filing Date Related to Notice 2013-1

The Financial Crimes Enforcement Network (FinCEN) is announcing a further extension of time for certain Report of Foreign Bank and Financial Accounts (FBAR) filings in light of ongoing consideration of questions regarding the filing requirement and its application to individuals with signature…

Notice and Request for Nominations - Bank Secrecy Act Advisory Group Solicitation of Application for Membership
Amendment to the Bank Secrecy Act Regulations - Definitions of Transmittal of Funds and Funds Transfer
FinCEN, Federal Reserve Finalize Rule Amending Definitions in the Bank Secrecy Act
REMARKS OF JENNIFER SHASKY CALVERY, DIRECTOR, FINANCIAL CRIMES ENFORCEMENT NETWORK

Good afternoon. It is a pleasure to be joining you today. When I spoke to you all last year, I had only been on the job at FinCEN for a
short time. So now, after having a chance to meet with many of you during this past year, it is good to look out and see so many familiar
faces. A big…

Statement of Jennifer Shasky Calvery, Director, Financial Crimes Enforcement Network, United States Department of the Treasury

Chairmen Warner and Merkley, Ranking Members Kirk and Heller, and distinguished Members of the Subcommittees, I am Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network (FinCEN), and I appreciate the opportunity to appear before you today to discuss FinCEN’s ongoing role…

Statement of Jennifer Shasky Calvery, Director, Financial Crimes Enforcement Network, United States Department of the Treasury

Chairman Carper, Ranking Member Coburn, and distinguished Members of the Committee, I am Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network (FinCEN), and I appreciate the opportunity to appear before you today to discuss FinCEN’s ongoing role in the Administration’s…

Administrative Ruling on Application of the Prepaid Access Rule to Closed Loop Prepaid Access Sold or Exchanged in a Secondary Market

 

Dear [ ]:

This responds to your letter of October 26, 2012, seeking an administrative ruling from the Financial Crimes Enforcement Network (“FinCEN”) on behalf of your client, [the Company] regarding the effect your client’s trading in the prepaid access secondary market…

Administrative Ruling on Whether a Company that Offers a Payment Mechanism Based on Payable-Through Drafts to its Commercial Customers is a Money Transmitter

 

Dear [ ]:

This responds to your letter of October 22, 2007, seeking an administrative ruling from the Financial Crimes Enforcement Network (“FinCEN”) on whether your client, [ ] (the “Company”), is a money services business (“MSB”) under the regulations implementing the…