AML Regulations and Enforcement Actions Archives - Page 2 of 4

FinCEN’s Estimate of the Costs and Burden of Filing SARs Is Evolving, But Needs Private Sector Input

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 […]

On February 12, 2020, Treasury Secretary Mnuchin testified before the Senate Finance Committee on the President’s Fiscal Year 2021 budget. […]

Whether “False Negatives” or “False Positives”, the Answer May Not Lie Just in New or Improved Technologies, but in an […]

Updated February 24, 2020 – The US Supreme Court denied a petition that challenged the SAR Safe Harbor On September […]

The Estimate for US Money Laundering – $300 billion a year, or 2% of GDP The 2015 National Money Laundering […]

“Well, I’m here in the freezing cold getting’ free chicken sandwiches. Because the food tastes great. I mean, it’s chicken. […]

The SAFE Banking Act, HR 1595, was approved by the House on September 25, 2019. As written, it is a […]

Two Million SARs are Filed Every Year … But Which Ones Provide Tactical or Strategic Value to Law Enforcement? On […]