News stories tagged FinCEN

Advisory highlights latest ransomware schemes

(Nov. 12, 2021) Growing use of anonymity-enhanced cryptocurrencies (AECs) used in ransomware schemes and the ways that perpetrators launder ransomware proceeds are detailed in an updated advisory issued this week...

Online child sex abuse spurs new SAR instructions

(Sept. 17, 2021) Online child sexual exploitation (OCSE) crimes are on the rise, and the Treasury’s top enforcement unit is highlighting some financial trends related to the crimes, as well...

FinCEN (with NASCUS’ help) to propose ‘no-action’ letters

(July 2, 2021) A “no-action letter” process – a form of regulatory enforcement discretion in which an agency states, in writing, that will not take an enforcement action against a...

BRIEFLY: Capitalization of interest rule effective July 30 … while CECL transition rule takes effect Aug,. 2; Risky AML/CFT/CPF jurisdiction list updated; New leader at World Council of CUs; Have a happy, safe July 4 holiday!

(July 2, 2021) NCUA’s final rule permitting federally insured credit unions (FICUs) to extend financing of interest in connection with loan workouts and modifications is set to take effect July...

Agencies vow to alter rules reflecting new AML/CFT priorities

(July 2, 2021) Plans for future Bank Secrecy Act (BSA) rule changes to incorporate just-issued national priorities for combatting money laundering and financing of terrorism were outlined this week in...

States need same ‘beneficial ownership’ info too

(May 7, 2021) State regulators must have access to the same “beneficial ownership” information that federal agencies will have under legislation adopted last year, and made available through a database,...

Agencies seek feedback on BSA/AML guidance

(April 16, 2021) NCUA and other federal agencies are seeking feedback on how well four-year-old guidance for complying with anti-money laundering and Bank Secrecy Act (AML/BSA) requirements is working for...

FinCEN wants to know: How to use beneficial ownership info?

(April 9, 2021) Feedback on implementation of new laws requiring certain business entities to submit their beneficial ownership information directly to the federal financial crimes enforcement agency is being sought...

Changes made to FinCEN leadership

(April 9, 2021) Leadership at FinCEN changes Sunday as a new acting director takes office, following the effective date today of the resignation of the most recent director. The Treasury...

FAQs look at proposed effectiveness of AML requirements

(Jan. 22, 2021) Suspicious activity reporting and other anti-money laundering (AML) requirements are subjects of new frequently asked questions (FAQs) issued by NCUA, federal banking regulators and the Treasury’s Financial...

BRIEFLY: PPP webinar set for Monday (Jan. 11); FinCEN warns on COVID vaccine scams

(Jan. 8, 2021) Small Business Administration (SBA) and Treasury Department officials will provide an overview of the new Paycheck Protection Program (PPP) features associated with the recently passed Economic Aid...