FinCEN, Money Laundering, Terrorist Financing Regulations

FinCEN’s Focus on Cryptocurrency Kiosks and Financial Crime

Ballard Spahr LLP on 8/26/2025

On August 4, 2025, the Financial Crimes Enforcement Network (“FinCEN”) issued Notice FIN-2025-NTC1 (the “Notice”) to address mounting concerns over regulatory risks related to convertible virtual currency (“CVC”) kiosks, also...more

Treasury Issues Request for Comment on Innovative Methods to Detect Illicit Activity Involving Digital Assets

Troutman Pepper Locke on 8/25/2025

On August 18, the U.S. Department of the Treasury issued a Request for Comment, inviting interested members of the public to provide input on innovative methods to detect and mitigate illicit finance risks involving digital...more

FinCEN Issues Alert on Countering Financing of Hizballah and Terrorist Activities

Ballard Spahr LLP on 11/8/2024

On October 23rd, the Financial Crimes Enforcement Network (“FinCEN”) issued a supplementary alert regarding countering financing of the U.S.-designated foreign terrorist organization Hizballah (the “Alert”). In May 2024,...more

Bank Policy Institute Critiques Notice of Proposed Rulemaking to Modernize AML/CFT Programs

Ballard Spahr LLP on 10/18/2024

The Bank Policy Institute (“BPI”) has issued its comment on the Federal Functional Regulators’ (the OCC, the Board of Governors of the Federal Reserve System, the FDIC, and the National Credit Union Administration) notice of...more

FinCEN Issues Proposed Rule to Strengthen and Modernize Financial Institutions’ AML/CFT Programs

The Volkov Law Group on 8/6/2024

On June 28, 2024, the Financial Crimes Enforcement Network released a notice of proposed rulemaking. The purpose of the proposed rule is to strengthen and modernize Anti-Money Laundering and Countering the Financing of...more

BSA Filings and Their Utility to Law Enforcement: An Industry Viewpoint

Ballard Spahr LLP on 7/29/2024

In this post, we will once again consider the issue of the utility of Bank Secrecy Act (BSA) filings to the global anti-money laundering/countering the financing of terrorism (AML/CFT) compliance regime....more

Following FinCEN’s Lead, Four Federal Banking Regulators Announce AML/CFT Rulemaking

Troutman Pepper Locke on 7/29/2024

As discussed here, on June 28, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed significant amendments to the anti-money laundering and countering the financing of terrorism...more

FinCEN Proposes Rule to Enhance AML/CFT Programs Across Industries

Ballard Spahr LLP on 7/26/2024

FinCEN’s recent preliminary rulemaking aims to enhance and modernize regulations with requirements and priorities that affect a broad range of “financial institutions” across industries—but lacks concrete guidance on...more

FinCEN Issues Proposed Rulemaking Aimed at Strengthening and Modernizing AML Programs Across Multiple Industries

Ballard Spahr LLP on 7/16/2024

On July 3, the Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (NPRM) as part of a broader initiative to “strengthen, modernize, and improve” financial institutions’ anti-money...more

Acciones Clave GAFI Febrero 2024

Foodman CPAs & Advisors on 3/6/2024

El 02/23/24, el Grupo de Acción Financiera Internacional (GAFI o “FATF”), una entidad intergubernamental independiente que desarrolla políticas para la protección de nuestro sistema financiero global contra el lavado de...more

FATF Key Actions February 2024

Foodman CPAs & Advisors on 3/6/2024

On 2/23/24, the Financial Action Task Force (FATF), an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering, terrorist financing and financing of...more

Hamas, Terrorist Financing, and Cryptocurrency

Ballard Spahr LLP on 12/8/2023

The October 7, 2023 attacks on Israel by Hamas have re-focused U.S. government efforts to identify and counter funding streams for Hamas and terrorist activity in general – including, in particular, through the use of...more

Corporate Transparency Act: What You Need to Know Before 2024

Foster Swift Collins & Smith on 2/23/2023

Introduction and Scope of New Rule - With a stated goal of countering money laundering, the financing of terrorism and other illicit activities (including those of Russian oligarchs currently under U.S. sanctions),...more

New Bipartisan Bill Takes Aim at Digital Asset Money Laundering and Terrorism Finance

Cadwalader, Wickersham & Taft LLP on 12/20/2022

On December 14, Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) introduced in the U.S. Senate a new bipartisan bill, titled "Digital Asset Anti-Money Laundering Act of 2022" (the “Bill”), intended to curb the...more

AMLA 2020 Series Part 1: New and Expansive Beneficial Ownership Reporting Requirements

Perkins Coie on 7/15/2021

As we reported in April, the Anti-Money Laundering Act of 2020 (AMLA 2020) aims to strengthen protections against money laundering, terrorism financing, and other illegal activities through a variety of mechanisms, including...more

FinCEN Issues First U.S. Priorities for Anti-Money Laundering and Counter-Terrorism Financing

Jones Day on 7/14/2021

On June 30, 2021, FinCEN announced the first set of government-wide AML/CFT Priorities, as required by the Anti-Money Laundering Act of 2020 ("AML Act"). Consistent with the National Strategy for Combating Terrorist and Other...more

FinCEN Issues First U.S. Priorities for Anti-Money Laundering and Counter-Terrorism Financing

Jones Day on 7/9/2021

On June 30, 2021, FinCEN announced the first set of government-wide AML/CFT Priorities, as required by the Anti-Money Laundering Act of 2020 ("AML Act"). Consistent with the National Strategy for Combating Terrorist and Other...more

FinCEN Announces National AML/CFT Policy Priorities

Holland & Knight LLP on 7/7/2021

The Financial Crimes Enforcement Network (FinCEN) on June 30, 2021, issued national priorities for anti-money laundering (AML) and countering the financing of terrorism (CFT) policy (the Priorities), as required by the...more

FinCEN provides a Section 314(b) welcomed clarification

Foodman CPAs & Advisors on 1/5/2021

Section 314(b) of the USA PATRIOT Act (Sec 314) was drafted by Congress in 2001 to allow financial institutions to work with law enforcement agencies and with each other to support the common goal of deterring money...more

Congress Makes Sweeping Changes to Money Laundering Enforcement

Buchalter on 1/5/2021

On New Year’s Day 2021, Congress passed—over President Trump’s veto—a defense appropriations law containing the Anti-Money Laundering Act of 2020 (“AML Act”) and the Corporate Transparency Act, as part of a sweeping new set...more

Is Section 314 of the USA PATRIOT Act Working?

Foodman CPAs & Advisors on 11/4/2020

Section 314 of the USA PATRIOT Act (Sec 314) was drafted by Congress in 2001 to allow financial institutions to work with law enforcement agencies and with each other to support the common goal of deterring money laundering...more

The FinCEN Files Impatiently Bypasses Government Entities Responsible for Acting on SARs Filings

K2 Integrity on 10/1/2020

For those who haven’t yet had the time to catch up on the ongoing #FinCENFiles reporting, the following is a brief description of the underlying story and some thoughts about the eventual effects on the parties involved. ...more

Key Developments Coming Out of FATF’s Plenary Meeting

King & Spalding on 3/4/2020

The Financial Action Task Force (“FATF”) held its 31st plenary meeting during February 19-21, 2020. Among other things, the FATF classified Iran as a “high-risk jurisdiction” and called for certain countermeasures to be...more

Treasury Department’s 2020 National Illicit Finance Strategy: Aspirations for BSA/AML Modernization and the Combatting of Key...

Ballard Spahr LLP on 2/28/2020

First in a Two-Post Series - The U.S. Department of Treasury (“Treasury”) has issued its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”)....more

China Emerging as an Increasing Driver of Global Illicit Finance Risk

K2 Integrity on 11/19/2019

Growing Chinese illicit finance threats, vulnerabilities, and exposure are combining to increase illicit financing risk in the international financial system, judging from a series of recent advisories, sanctions actions,...more

FinCEN › Money Laundering › Terrorist Financing Regulations

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