News

Two years ago, FinCEN issued an Advisory to U.S. Financial Institutions on Promoting a Culture of Compliance. Many financial institutions have taken positive steps to improve their compliance culture, but there is more to be done. Acting Director Jamal…

WASHINGTON, DC – FinCEN today assessed a civil money penalty of $12 million against CG Technology, L.P., doing business as Cantor Gaming, for egregious and…

The Financial Crimes Enforcement Network (FinCEN) has issued an advisory to help financial institutions guard against a growing number of e-mail fraud schemes in which criminals misappropriate funds by deceiving financial institutions and their customers into conducting wire transfers.…

To ensure consistent Bank Secrecy Act (BSA) coverage across the banking industry, FinCEN is proposing to require banks lacking a Federal functional regulator to establish and…

WASHINGTON—Jamal El-Hindi, Acting Director of the Financial Crimes Enforcement Network (FinCEN), announced today the selection of Thomas P. Ott as Associate Director for its Enforcement Division. Mr. Ott will oversee FinCEN’s Bank Secrecy Act compliance and enforcement program.…

On March 31, 2016, following a voluntary remand ordered by the United States District Court for the District of Columbia, FinCEN published in the Federal Register a Final Rule imposing the fifth special measure against FBME Bank Ltd. (FBME), which was scheduled to take effect on July 29, 2016.…

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced Geographic Targeting Orders (GTO) that will temporarily require U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential real…

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced a settlement with and a $2.8 million assessment against Hawaiian Gardens Casino, Inc. d/b/a The Gardens Casino, of…

WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today presented its second annual Law Enforcement Awards in a ceremony at the U.S. Department of the Treasury. These awards are presented to law enforcement agencies that use Bank Secrecy Act reporting…

Jennifer Shasky Calvery announced today that she will be leaving her position as Director of the Financial Crimes Enforcement Network (FinCEN) at the end of May. Ms. Calvery has served as FinCEN’s director since September 2012. Her entire career has been spent in service to the public, including…

WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today announced a $1 million civil money penalty against Sparks Nugget, Inc. d/b/a John Ascuaga’s Nugget, of Sparks, Nevada. Sparks Nugget admitted that it willfully…

WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today proposed to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” in order to ensure that funding portals implement policies and…