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