AML Regulations and Enforcement Actions Archives - Page 2 of 5

AML Act of 2020: Renewing America’s AML/CFT Regime

Executive Summary of the AML Act of 2020 On December 3, 2020 the Senate and House jointly issued a Conference […]

The following comments to FinCEN’s Advance Notice of Proposed Rule Making (ANPRM) on AML Program Effectiveness were submitted by Jim […]

In the last five years, FinCEN’s workload has gone up three times as much as its budget: if we care […]

On August 13 the federal banking agencies issued a joint statement on updates to their guidance on enforcing BSA/AML requirements. […]

The General Accountability Office, or GAO, issued a Report on August 14, 2020 titled “FinCEN Should Enhance Procedures for Implementing […]

Unfortunately, the FDIC’s estimate of the time and effort it takes to run a BSA/AML compliance program is … laughable. […]

The Senate Banking Committee’s top Republican (Senator Crapo from Idaho) and top Democrat (Senator Brown from Ohio) have joined forces […]

For years, FinCEN has used a one-size-fits-all-SARs method of determining the costs and burden of filing Suspicious Activity Reports (SARs): […]

The Focus Has Always Been On the Increase in Fraud Natural disasters bring out the best in some people and […]

“FinCEN Penalizes U.S. Bank Official for Corporate Anti-Money Laundering Failures” In 1961 President John F. Kennedy commented on the failed […]