News

Washington, D.C. – The Financial Crimes Enforcement Network (FinCEN), working closely with the U.S. Securities and Exchange Commission (SEC), assessed a $20 million civil money penalty today against Oppenheimer &…

WASHINGTON, D.C. – The Financial Crimes Enforcement Network (FinCEN) today issued a $1 million civil money penalty (CMP) against Mr. Thomas E. Haider for failing to ensure that his company abided by the anti-money laundering (AML)…

WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) today assessed a $300,000 civil money penalty against North Dade Community Development Federal Credit Union in Miami Gardens, Florida for significant Bank…

The Financial Crimes Enforcement Network (“FinCEN”), as the agency primarily responsible for administering the Bank Secrecy Act, is issuing this Statement to reiterate expectations regarding banking institutions’ obligations under the Bank Secrecy Act for money services businesses.

Money…

WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) announced today the issuance of a Geographic Targeting Order (GTO) that imposes additional reporting and recordkeeping obligations on certain trades and…

WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) today imposed a civil money penalty against BPI, Inc., a New Jersey money services business (MSB), for willful and repeated violations of the Bank Secrecy Act (BSA…

WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) has reached an agreement with Mr. George Que, the former VIP Services Manager at the Tinian Dynasty Hotel & Casino in the Northern Mariana Islands, to permanently bar him from working in financial institutions as a result of…

WASHINGTON, D.C. – The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in close coordination with its Mexican counterpart, the Unidad de Inteligencia Financiera (UIF), today announced a series of reporting initiatives designed to greatly improve the transparency…

WASHINGTON – The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today named FBME Bank Ltd., formerly known as the Federal Bank of the Middle East, as a foreign financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT…

WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a civil money penalty against Mian, Inc., doing business as Tower Package Store, a money services business (MSB). For almost…

FinCEN has streamlined the process for electronic filing for individuals filing a Report of Foreign Bank and Financial Accounts (FBAR), FinCEN 114. The new process removes the requirement for registering and creating an account on the BSA E-Filing System prior to downloading, completing, and…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today finalized anti-money laundering (AML) regulations that will require the housing government sponsored enterprises (Housing GSEs) to develop programs for the prevention of money laundering and to file suspicious activity reports…

WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN), in coordination with the U.S. Department of Justice (DOJ), today issued guidance that clarifies customer due diligence expectations and reporting requirements for…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a civil money penalty against Saleh H. Adam, doing business as Adam Service, a money services business (MSB). A FinCEN…