Financial institutions across the U.S. have grappled with compliance requirements under the Customer Identification Program, or CIP, rule for more than two decades.
On June 27, the Federal Deposit Insurance Corp., the...more
Financial institutions across the United States have grappled with compliance requirements under the Customer Identification Program (CIP) Rule for more than two decades. A new exemption, approved in June 2025, promises...more
7/10/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Customer Identification Program (CIP) ,
Data Collection ,
Data Security ,
Enforcement ,
Financial Institutions ,
FinCEN ,
FinTech ,
New Regulations ,
Patriot Act ,
Regulatory Reform ,
Risk Management
In a historic move that signals a new era in the fight against illicit opioid trafficking and money laundering, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued its first-ever...more
The U.S. real estate market has long been a cornerstone of the American dream—a path to stability, investment, and generational wealth. But at the margins, that same market has also provided an opportunity for illicit actors...more
The Trump administration remains focused on countering Mexican cartels and other Latin American transnational criminal organizations (TCOs). Since designating eight TCOs as foreign terrorist organizations (FTOs), the...more
5/28/2025
/ Anti-Money Laundering ,
Cartels ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Fraud ,
Mexico ,
Money Laundering ,
Smuggling ,
Terrorist Organizations ,
Trump Administration ,
White Collar Crimes
On March 11, 2025, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) aimed at disrupting drug trafficking and money laundering along the southwestern border. The...more
3/24/2025
/ Anti-Money Laundering ,
Cartels ,
Currency Transaction Reports (CTR) ,
Enforcement Priorities ,
Financial Crimes ,
FinCEN ,
GTO ,
Money Laundering ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanctions ,
Trump Administration ,
U.S. Treasury
On Nov. 19, 2024, the Federal Deposit Insurance Corp. issued a notice of assessment finding that between December 2018 and August 2020, CBW Bank — a single-branch bank in Weir, Kansas — failed to maintain an adequate...more
1/28/2025
/ Administrative Procedure Act ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Compliance ,
Constitutional Challenges ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Regulatory Authority ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Seventh Amendment ,
Trump Administration
On Oct. 10, Attorney General Merrick Garland announced that TD Bank pled guilty to conspiracy to commit money laundering and agreed to pay over $1.8 billion in penalties to resolve the U.S. Department of Justice's...more
11/22/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Criminal Conspiracy ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Money Laundering ,
Settlement
On October 10, 2024, Attorney General Merrick Garland announced that TD Bank agreed to pay over $1.8 billion in penalties to resolve the U.S. Department of Justice’s (DOJ) investigation into money laundering and Bank Secrecy...more
10/17/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Clawbacks ,
Compliance ,
Department of Justice (DOJ) ,
Financial Institutions ,
FinCEN ,
Money Laundering ,
OCC ,
Penalties ,
Popular ,
Remediation ,
Self-Disclosure Requirements ,
Voluntary Disclosure