We blogged last year about the Final Rule issued by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) extending Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT)...more
7/25/2025
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Currency Transaction Reports (CTR) ,
Final Rules ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Investment Adviser ,
Regulatory Agencies ,
Regulatory Reform ,
Regulatory Requirements ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
A Gesture Providing Limited Solace to a Now-Defunct Bank -
Six years ago, in early 2018, we blogged about the U.S. Department of the Treasury’s Financial Crimes Enforcement Network’s (“FinCEN’s”) designation of ABLV Bank, AS...more
The Federal Reserve Bank of Philadelphia (the “Philly Fed”) recently executed an agreement (the “Agreement”) with Pennsylvania-based Customers Bank (and its Customers Bancorp, Inc. holding entity) (collectively, “Customers”)....more
8/16/2024
/ Anti-Money Laundering ,
Banks ,
BSA/AML ,
Digital Assets ,
Financial Institutions ,
Financial Services Industry ,
FRB ,
IRS ,
Office of Foreign Assets Control (OFAC) ,
Risk Assessment ,
Risk Management ,
Suspicious Activity Reports (SARs)
We previously have blogged on actions taken by the DOJ’s “Task Force KleptoCapture,” an interagency law enforcement task force with a mandate to target sanctioned Russian and pro-Russian oligarchs. While explicitly launched...more
3/1/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Banks ,
Criminal Fascilitation ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Financial Services Industry ,
International Emergency Economic Powers Act (IEEPA) ,
Military Conflict ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
Ukraine
Last Wednesday, FinCEN Deputy Director Jamal El-Hindi appeared at the annual conference of the Money Transmitter Regulators Association and delivered prepared remarks. The topics of his address covered three issues of...more
9/20/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Corruption ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Information Sharing ,
Innovative Technology ,
Money Services Business ,
Money Transmitter ,
National Security ,
Policy Statement ,
RegTech ,
Strict Compliance ,
Virtual Currency
The Federal Reserve and the Financial Crimes Enforcement Network, or FinCEN, both recently issued reports addressing worrisome trends in technology-assisted financial fraud. The reports to engage the financial services...more
8/2/2019
/ Business E-Mail Compromise (BEC) ,
Federal Reserve ,
Financial Crimes ,
Financial Fraud ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Identity Theft ,
Innovative Technology ,
Know Your Customers ,
Money Laundering ,
Personally Identifiable Information ,
Suspicious Activity Reports (SARs) ,
Vulnerability Assessments
Federal legislators continue to struggle over the growing disconnect between increasing State legalization of the cannabis industry, and the continued illegality of cannabis under federal law....more
2/19/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Cole Memorandum ,
Decriminalization of Marijuana ,
Dispensaries ,
FFIEC ,
Financial Services Industry ,
FinCEN ,
Hemp ,
Legislative Agendas ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Marijuana ,
Proposed Legislation