Sections
FinCEN
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1.5KRegulationFinCEN Deputy Director Talks Reform, NBFI Supervision
Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference...
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3.8KRegulationFinCEN Director On Why Casino Cooperation Is Central To Fighting Financial Crime
Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. Blanco took...
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2.0KB2B PaymentsFinCEN: BEC Scams Tried to Siphon $9B Since 2016
BEC is gaining steam, accounting for billions of dollars in attempted (and successful) thefts across all manner of industries, FinCEN finds. Separately, in...
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2.3KB2B PaymentsBEC Scams Nearly Double Over Three Years
Business E-mail Compromise (BEC) fraud scams are on the rise, and the latest data shows a boost in the number of incidents...
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3.3KSecurity & FraudFinCEN Calls For Private Sector Innovation
The Financial Crimes Enforcement Network (FinCEN) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector...
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2.7KCryptocurrencyFinCEN Issues Guidance On Virtual Currencies
In response to questions by law enforcement, financial institutions and regulators, the Financial Crimes Enforcement Network (FinCEN) issued guidance for companies and...
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4.4KBitcoinBitcoin Daily: FinCEN Penalizes P2P Currency Exchanger; Binance Announces Its Own Blockchain
A new report has found that ransomware payments increased nearly 90 percent in the first quarter of the year over the previous...
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11.9KAMLDeep Dive: How To Improve Existing AML/KYC Requirements
The following Deep Dive examines how the 2008 financial meltdown paved the way for existing AML/KYC practices, and how FIs can work...
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5.0KRegulationShutdown Impacting FinTech Firms, Financial Regulations
Count the FinTech sector — and regulation of that sector — among those impacted by the government shutdown that has roiled Washington...
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5.1KBank RegulationTaking On Financial Crime With Tech, CCOs Must ‘Abandon Fear’
Multiple regulators issued a joint statement encouraging banks to embrace innovation when it comes to battling financial crime. In an interview with...
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7.0KInnovationBridging Banking Gaps For Cannabis Companies
More banks than ever are providing services to the cannabis industry, but a banking gap remains as cash still is king. Green...
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5.0KRegulationFinCEN Tightens Real Estate Cash-Buyer Reporting Threshold
The Financial Crimes Enforcement Network (FinCEN) announced that it has issued revised Geographic Targeting Orders (GTOs), which will now require U.S. title...
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4.6KSecurity & FraudFinCEN: US Banks Should Be Wary Of Nicaragua Assets
The Financial Crimes Enforcement Network said Thursday (October 4) that U.S. financial institutions are at increased risk that proceeds from Nicaragua may...
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8.3KBankingMassachusetts Credit Union Gets Into Cannabis Banking
A credit union (CU) is now the first financial institution (FI) in Massachusetts to offer banking services to recreational marijuana companies. GFA...
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3.3KBitcoinBitcoin Daily: India Considers Crypto For Financial Transactions; Bitcoin Makes Up Half Of Crypto Market
The Ministry of Industry and Information Technology (MIIT) in China is seeking to double down on its efforts to make a fertile...
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4.4KRegulationFinCEN Eyes Cryptocurrency Amid 1,500 Monthly Complaints
1,500 complaints about suspicious activity per month. That’s the tally that FinCEN Director Kenneth A. Blanco told a conference last week that FinCEN,...
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6.7KRegulationMay’s Days See CDD And GDPR Take Effect
May 11 marked a watershed moment of sorts when, this past Friday, the final customer due diligence rule via the Financial Crimes...
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4.6KBank RegulationCDD Rule Becomes Official
The deadline cometh. Today (May 11) is the day the final rule, served up by the Financial Crimes Enforcement Network (FinCEN), takes effect. The...
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8.2KBank RegulationGIACT: Beneficial Ownership Compliance: Ready But Mostly Not
May 11 is basically here, with new Customer Due Diligence rules likely to send ripples, if not shockwaves, across the FI landscape. As...
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4.0KRegulationTrulioo GM: FinCen, Technology And ID’ing Beneficial Owners
Customer due diligence rules are changing via FinCEN, with a focus on identifying and monitoring beneficial owners. Trulioo GM Zac Cohen notes...
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4.2KInternationalLatvia’s Central Bank Rocked By Bribery, North Korean Sanction Violations
Latvia’s banking system is facing more issues. Not only did one bank have to request emergency support after U.S. officials accused it...
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4.1KData DiveMissing The Podium Edition: US Bank, SoFi And Bitcoin On Cards
Not everyone gets a trophy, an inevitable truth discovered by the U.S. Olympic team in Pyeongchang — at least so far. It’s not been...
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8.8KBank RegulationUS Bank Fined $613M For AML Violations
U.S. Bank was slapped with a $185 million civil penalty for what the Financial Crimes Enforcement Network (FinCEN), in coordination with the...
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10.8KNewsCourt Rules On Anti-Money Laundering Accountability
A court ruling has found that compliance officers, among other executives, can be held responsible for anti-money laundering controls or lack thereof,...
- Mobile
It’s Official: Microsoft Is Licensed To Do Payments
Microsoft has officially entered the world of payments. The Windows software giant has received its first money transmitter license from the state...
- International
Bank Group Asks For More Leeway To Fight Money Laundering
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) should let banks share their reports of suspected money-laundering activity with their foreign branches...
