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 […]
An exemption from Bank Secrecy Act (BSA) customer identification program rules for loans made for the purchase of property and casualty insurance was approved by federal regulators Friday, effective as of Sept. 27, 2018. The […]
Financial institutions that have been affected by Hurricane Florence are encouraged to contact regulators if they think they will experience delays in required Bank Secrecy Act report filings, according to notices from Treasury’s financial crimes […]
A bill to create a Treasury-led financial technology (fintech) task force to improve public and private sector coordination on ways to reduce terrorist and illicit use of new financial technologies, including digital currencies, was passed […]
The Financial Crimes Enforcement Network (FinCEN) on Friday circulated an updated list of list of jurisdictions having strategic anti-money laundering/counter-terrorist financing (AML/CFT) deficiencies. The list was updated June 29 by the Financial Action Task Force […]
The Financial Crimes Enforcement Network (FinCEN) is in the process of renewing two information collections under rules requiring financial institutions and broker/dealers to develop and implement customer identification (CID) programs under the Bank Secrecy Act […]
Some “exceptive relief” for financial institutions from obligations of “beneficial ownership” rules of customer due diligence requirements (CDD) expires Saturday under a recent extension issued by federal law enforcement in August. That is, unless the […]
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