Money services businesses (MSBs) operating along the southwest border of the country are the target of a new effort by the Treasury and its financial crimes enforcement unit to unearth alleged money laundering activity, the […]
Chinese money laundering networks (CMLNs) in the U.S. that are used by Mexico-based drug cartels — dubbed a “mutualistic relationship” — are the target of an advisory to banks, the Treasury’s top financial crimes enforcement […]
Banks supervised by the Federal Reserve Board are now permitted to obtain a customer’s tax identification number (TIN) from a third party under an exemption order approved July 24 and announced Thursday by the Federal […]
The agency’s 2025 operating budget and two policy “discussion drafts” will be taken up by the Federal Deposit Insurance Corp. (FDIC) Board during its open meeting next Thursday, according to a notice announced late Tuesday. […]
A La Jolla, Calif., bank and its holding company agreed to pay $63 million in civil money penalties (CMP) for “deficiencies” in monitoring of transactions related to crypto assets in compliance with anti-money laundering (AML) […]
Called the “largest in history,” two settlements totaling $4.3 billion were announced late Tuesday against Binance Holdings Ltd. and its affiliates for violations of U.S. anti-money laundering laws, the Treasury Department said in a release. […]
Public comments on a recent proposed rule designating the mixing of convertible virtual currency as a class of transactions of primary money laundering concern are due to Treasury’s financial crimes enforcement unit by Jan. 22, […]
Financial institutions and others have until Feb. 14 to submit their comments to Treasury’s financial crimes enforcement unit on a proposed rule that would govern “beneficial ownership information” (BOI) that they and others will need […]
The intergovernmental Financial Action Task Force (FATF) this month removed Nicaragua and Pakistan from its list of jurisdictions under increased monitoring related to standards for anti-money laundering, countering the financing of terrorism and others, but […]
Public comments are sought by Aug. 5 on questions about a possible no-action letter process related to financial institutions’ compliance with anti-money laundering/countering the finance of terrorism (AML/CFT) requirements, according to a release Friday by […]
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