News & Analysis as of

New Guidance Financial Institutions Bank Secrecy Act

Amundsen Davis LLC

President Trump Takes Action to Ensure Fair Banking for All Americans

Amundsen Davis LLC on

On August 7, 2025, President Donald J. Trump signed an executive order titled “Guaranteeing Fair Banking for All Americans.” The order asserts that financial institutions have restricted the access of individuals and...more

Ballard Spahr LLP

FinCEN Issues Analysis of Increasing Elder Financial Exploitation

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The Financial Crimes Enforcement Network (“FinCEN”) recently issued a Financial Trend Analysis (“Analysis”) focusing on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation...more

Orrick, Herrington & Sutcliffe LLP

FinCEN offers suspicious activity reporting guidance for human smuggling along U.S.- Mexico border

On January 13, the Financial Crimes Enforcement Network (FinCEN) issued an alert advising financial institutions on how to detect and report suspicious financial activity that may be related to human smuggling along the...more

Jones Day

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

Jones Day on

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

Eversheds Sutherland (US) LLP

FinCEN clarifies SAR filing and due diligence requirements for financial institutions providing services to hemp-related...

On June 29, 2020, the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued guidance (the 2020 Guidance) clarifying requirements under the Bank Secrecy Act (BSA) for financial institutions providing...more

Morgan Lewis - All Things FinReg

FinCEN Provides BSA Customer Due Diligence Guidance for Hemp-Related Businesses

The Financial Crimes Enforcement Network (FinCEN) published guidance (Guidance) on customer due diligence requirements under the Bank Secrecy Act (BSA) for hemp-related customers on June 29. ...more

Eversheds Sutherland (US) LLP

Federal agencies clarify SAR filing requirements for financial services provided to hemp-related businesses

On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks providing financial services to...more

Proskauer - Blockchain and the Law

CFTC, FinCEN, and SEC Warn of Crypto AML Enforcement

Based on a recent regulatory statement, entities involved with cryptocurrency or digital assets should revisit their anti-money laundering and countering the financing of terrorism obligations (AML/CFT) compliance under the...more

Jones Day

Financial Regulatory Leaders Highlight Anti-Money Laundering Issues With Digital Asset Transactions - Regulators highlight AML/CFT...

Jones Day on

On October 11, 2019, the heads of the U.S. Commodity Futures Trading Commission ("CFTC"), the U.S. Securities and Exchange Commission ("SEC"), and the Financial Crimes Enforcement Network ("FinCEN"), issued a joint statement...more

Allen Matkins

DBO Issues Guidance To Banks And Credit Unions Serving Cannabis Related Businesses

Allen Matkins on

In the early 1970s, I worked as a petroleum transfer engineer (aka service station attendant). In those halcyon days, we actually pumped the gas for customers, washed their windows and offered to check the oil. I remember one...more

Katten Muchin Rosenman LLP

FinCEN Publishes Guidance Pertaining to Certain Business Models Involving Convertible Virtual Currencies

On May 9, the Financial Crimes Enforcement Network of the US Department of the Treasury (FinCEN) issued guidance relating to how its regulations apply to certain businesses that transact in "convertible virtual currencies"...more

Dorsey & Whitney LLP

Clarification From FinCEN — Updating Marijuana Limited SARs

Dorsey & Whitney LLP on

The Financial Crimes Enforcement Network (“FinCEN”), a bureau of the Department of the Treasury, issued guidance on February 14, 2014 (the “Cannabis Guidance”), to clarify Bank Secrecy Act expectations for financial...more

Jones Day

FinCEN: No SAR Filing Obligation When Customers Voluntarily Disclose to Home Country

Jones Day on

On February 21, 2018, the Financial Crimes Enforcement Network ("FinCEN") issued highly anticipated guidance affecting reporting obligations for U.S. financial institutions in response to an inquiry by the Florida...more

Goodwin

Financial Services Weekly News - September 2015 #2

Goodwin on

Regulatory Developments: DOL Releases Transcripts of Fiduciary Standard Hearings - The Department of Labor (DOL) has released the transcripts of the hearings held by the agency in August on its proposed fiduciary...more

Tucker Arensberg, P.C.

Growing Medical Marijuana, Problematic in Bankruptcy, and Out

Tucker Arensberg, P.C. on

Frank Arenas is licensed in Colorado to grow and dispense medical marijuana. He and his wife own a building, half of which is used for the cultivation and the other half of which is leased to a marijuana dispensary. These...more

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