Search for: "Financial Crimes Enforcement Network"
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30 Jun 2020, 10:00 pm
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. [read post]
8 Jan 2021, 7:11 am
Reporting Virtual Currency on FBARs On December 31, 2020, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) in a notice stated it intends to propose to amend the regulations implementing the Bank Secrecy Act (BSA) regarding reports of foreign financial accounts (FBAR) on IRS FinCEN Form 114 to include virtual currency as a type of reportable account under 31 C.F.R. [read post]
8 Jan 2021, 7:11 am
Reporting Virtual Currency on FBARs On December 31, 2020, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) in a notice stated it intends to propose to amend the regulations implementing the Bank Secrecy Act (BSA) regarding reports of foreign financial accounts (FBAR) on IRS FinCEN Form 114 to include virtual currency as a type of reportable account under 31 C.F.R. [read post]
30 Jan 2023, 10:07 am
The Financial Crimes Enforcement Network recently issued an alert cautioning all financial institutions about potential investments in the U.S. commercial real estate sector, by or on behalf of Russian elites and their proxies. [read post]
27 Aug 2023, 12:38 pm
Nature crime is closely linked to terrorism, corruption, modern slavery and other human rights abuses, financial crimes, and other threats to peace and security. [read post]
15 Dec 2010, 7:40 am
The Financial Crimes Enforcement Network (FinCEN) released two mortgage fraud reports entitled Mortgage Loan Fraud SAR Filings, which together cover the first six months of 2010; one report covers January through March 2010, and the other covers April through June 2010. [read post]
9 Oct 2018, 10:00 am
Department of the Treasury’s Financial Crimes Enforcement Network issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act and anti-money laundering obligations more efficiently and effectively. [read post]
4 Sep 2020, 12:19 pm
Last month the US federal banking agencies (the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, and the National Credit Union Administration, collectively, the “US banking regulators”) and the Financial Crimes Enforcement Network (“FinCEN”) the US anti-money laundering (“AML”) agency, issued statements providing guidance on their approaches to evaluating whether… [read post]
3 May 2010, 2:31 am
The Financial Crimes Enforcement Network (FinCEN) released new guidance, Advisory to Financial Institutions on Filing Suspicious Activity Reports Regarding Home Equity Conversion Mortgage Fraud Schemes, to assist financial institutions in guarding against fraud schemes perpetrated against senior citizens who use the Federal Housing Administration's (FHA's) Home Equity Conversion Mortgage (HECM) program, a form of reverse mortgage. [read post]
15 Feb 2014, 8:14 am
[JURIST] The Financial Crimes Enforcement Network (FinCEN) [official website] issued guidelines [text, PDF] on Friday for banks to provide services to legal marijuana-related businesses. [read post]
26 Feb 2010, 12:15 pm
The Treasury Department's Financial Crimes Enforcement Network (FinCEN today issued proposed regulations under the Bank Secrecy Act regarding reports of foreign financial accounts (FBARs). [read post]
14 Jan 2021, 9:00 pm
Treasury Department’s Financial Crimes Enforcement Network (FinCEN). [read post]
23 Sep 2020, 10:00 pm
The Financial Crimes Enforcement Network (FinCEN) issued a final rule that requires minimum standards for anti-money laundering (AML) programs for banks lacking a federal functional regulator (the Federal Reserve Board, OCC, FDIC, OTS, NCAU, and SEC), i.e., banks and similar financial institutions that are subject only to state regulation and supervision, and certain international banking entities (collectively, “covered banking entities”). [read post]
12 Jun 2012, 6:46 am
In Regulatory Notice 12-08, effective January 26, 2012, the Financial Industry Regulatory Authority (IFNRA), citing the regulations of the Financial Crimes Enforcement Network (FINCEN) regarding Suspicious Activity Reports (SAR’s), now requires brokerage firms to make such SAR reports and supporting documents and information available to regulatory authorities. [read post]
23 Sep 2020, 10:00 pm
The Financial Crimes Enforcement Network (FinCEN) issued a final rule that requires minimum standards for anti-money laundering (AML) programs for banks lacking a federal functional regulator (the Federal Reserve Board, OCC, FDIC, OTS, NCAU, and SEC), i.e., banks and similar financial institutions that are subject only to state regulation and supervision, and certain international banking entities (collectively, “covered banking entities”). [read post]
15 Apr 2021, 9:00 pm
When the Internal Revenue Service (IRS) extended the federal income tax filing deadline to May 17 for 2021, this extension did not apply to the obligation to file a Report of Foreign Bank and Financial Accounts (FBAR) with the Financial Crimes Enforcement Network (FinCEN). [read post]
25 Apr 2012, 1:09 am
The Financial Crimes Enforcement Network released its full year 2011 update on April 23, 2012, concerning mortgage loan fraud reported suspicious activity reports (MLF SARs) that shows financial institutions submitted 92,028 MLF SARs last year, a 31 percent increase over the 70,472 submitted in 2010. [read post]
11 Feb 2008, 2:00 am
The Financial Crimes Enforcement Network issued today the latest edition of the SAR Activity Review - By The Numbers. [read post]
28 Jan 2021, 9:00 pm
Treasury Department’s Financial Crimes Enforcement Network (FinCEN) recently announced plans to propose a new disclosure requirement for U.S. taxpayers with offshore cryptocurrency accounts. [read post]
4 Apr 2008, 6:27 am
The Financial Crimes Enforcement Network (FinCEN) today released an update to its November 2006 mortgage loan fraud assessment, which is based upon analysis of suspicious activity reports (SARs) provided by the financial industry. [read post]
