The US Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (Agencies)1 issued a joint statement on August 21, 2020, regarding Bank Secrecy Act/anti-money laundering (AML) regulatory requirements for...more
9/24/2020
/ Bank Fraud ,
BSA/AML ,
Corruption ,
Customer Due Diligence (CDD) ,
FATF ,
Federal Bank Regulatory Agencies ,
Financial Institutions ,
FinCEN ,
Joint Statements ,
Money Laundering ,
National Security ,
Politically Exposed Person (PEPs) ,
Risk Assessment ,
Senior Foreign Political Figures (SFPFs)
On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) issued guidance explaining how financial institutions can conduct due diligence for hemp-related businesses and identifying the type of information and...more
8/15/2020
/ Anti-Money Laundering ,
Banking Sector ,
Controlled Substances Act ,
Due Diligence ,
Farm Bill ,
Financial Institutions ,
FinCEN ,
Hemp ,
Hemp Related Businesses ,
New Guidance ,
Required Documentation ,
Suspicious Activity Reports (SARs) ,
USDA
Section 13(3) of the Federal Reserve Act authorizes the Federal Reserve Board (FRB) in “unusual and exigent circumstances” to establish programs or facilities with “broad-based eligibility” that allow a Federal Reserve Bank...more
In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more
4/28/2020
/ Banks ,
CFTC ,
Coronavirus/COVID-19 ,
DSIO ,
Financial Institutions ,
Financial Regulatory Agencies ,
FRB ,
OCC ,
Regulatory Oversight ,
Relief Measures ,
Securities and Exchange Commission (SEC)
In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more