News

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today, in its First Quarter 2011 Mortgage Loan Fraud (MLF) analysis, reported that the number of MLF suspicious activity reports (SARs) rose to 25,485 up…

Vienna, VA — The Financial Crimes Enforcement Network (FinCEN) today made a further announcement that a small subset of individuals with only signature authority over certain foreign financial accounts who are required to file a Report of Foreign Bank and Financial Accounts (FBAR) with respect…

As part of a joint effort to improve the quality of Bank Secrecy Act (BSA) data, FinCEN and the IRS have recently updated the validation of zip code fields to cover city, state, and zip code. The validation has been enhanced to verify that the city and state are consistent with the first five (5…

[Updated -- June 6, 2011] FinCEN is re-issuing Notice 2011-1 with a minor revision to clarify the scope of the administrative relief provided in Situation (2) of the Notice. The revision makes it…

In a letter to money services businesses (MSBs) dated April 27, 2011, the Financial Crimes Enforcement Network (FinCEN) requested that certain MSBs provide FinCEN with a list of their agents. The request applies to MSBs whose registration form (…

VIENNA, Va. - The Financial Crimes Enforcement Network today released two new reports based on information contained in suspicious activity reports (SARs): the 16th edition of the SAR Activity Review - By the Numbers and the 19th edition of the SAR Activity Review: Trends, Tips & Issues.…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today proposed regulations to implement section 104(e) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA) to impose a reporting requirement that would be invoked, as necessary, to elicit…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $250,000 civil money penalty against The Lower Sioux Indian Community, doing business as Jackpot Junction Casino Hotel of Morton,…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today released its analysis of suspicious activity reports (SARs) that call attention to possible fraud in the commercial real estate financing arena. The analysis,…

VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) in its new report, Mortgage Loan Fraud SAR Filings In Fourth Quarter and Calendar Year 2010, today released full year data showing the number of…

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced the assessment of a $7 million civil money penalty (CMP) against Pacific National Bank, Miami, Florida (the Bank) for violations of an OCC Consent Order, the Bank Secrecy Act (BSA) and the USA PATRIOT Act. The…