On 11 March 2025, the Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) to require money services businesses (MSBs) located in specified zip codes of California and Texas to file currency...more
3/20/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Compliance ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Geographic Targeting Order ,
Money Services Business ,
Regulatory Requirements ,
Reporting Requirements ,
Suspicious Activity Reports (SARs)
In 2024, FinCEN and the federal bank regulators announced more than three dozen enforcement actions against banks and individuals arising from alleged Bank Secrecy Act (BSA), anti-money laundering (AML), and countering the...more
On 2 January 2025, Massachusetts went from being one of the least regulated states for money transmission to becoming one of the more highly regulated states. Formerly, only entities engaging in foreign money transmission...more
The Financial Action Task Force (“FATF”), an intergovernmental organization aimed at combatting money laundering and thwarting terrorist financing, recently issued final recommendations for the regulation of...more