Treasury issued a “National Strategy for Combating Terrorist and Other Illicit Financing” Thursday that addresses current U.S. government efforts to combat illicit finance threats and risks and identifies priorities, objectives, and “potential areas for future […]
UBS Financial Services, Inc. (UBSFS) was assessed a $14.5 million civil money penalty (CMP) over “willful” Bank Secrecy Act/anti-money laundering (BSA/AML) violations under an order announced Monday by Treasury’s Financial Crimes Enforcement Network (FinCEN). The […]
Improving the effectiveness and efficiency of anti-money laundering laws – and opening thedoor to bankers for ideas in protecting the financial system from illicit threats – were two objectives outlined by one of the Treasury […]
Encouraging banks and credit unions to explore “innovative approaches” to meet anti-money laundering compliance obligations is the thrust of a joint statement issued Monday by the three federal banking regulators, the federal credit union regulator […]
The Federal Financial Institutions Examination Council will hold a webinar to promote awareness of efforts to develop alternative reference rates to LIBOR – the London Interbank Offered Rate – due to uncertainty about the continued […]
The list of jurisdictions with deficiencies in strategic anti-money laundering and combatting financing of terrorism (AML/CFT) was updated Wednesday by federal law enforcement, action it said may affect U.S. financial institutions’ obligations and risk-based approaches. […]
The Senate Committee on Banking, Housing, and Urban Affairs will conduct an open hearing on “Combating Money Laundering and Other Forms of Illicit Finance: Regulator and Law Enforcement Perspectives on Reform.” Witnesses will be Kenneth […]
Regulator and law enforcement perspectives on reform in the fight against money laundering and other types of illicit finance will be served up Nov. 29 during a Senate Banking Committee hearing featuring representatives from a […]
A recent joint agency statement on resource-sharing as a way to better manage Bank Secrecy Act/anti-money laundering (BSA/AML) programs was forwarded individually by regulators to the institutions they supervise – most noting that such collaboration is […]
Types of instances in which banks and credit unions may form collaborative arrangements to share resources to better manage their Bank Secrecy Act/anti-money laundering (BSA/AML) responsibilities are addressed in a statement issued jointly on Wednesday […]
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