News

FATF Begins Discussions with the E-Money Payment Systems Industry

For the second time since its inception, the Financial Action Task Force (FATF), the world’s leader in promoting anti-money laundering controls, has released a public report…

A rule proposed today by the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) would require the reporting of a certain class of foreign bank drafts brought into or out of the United States. The rule was proposed under the terms of the Bank Secrecy Act (BSA), one of the…

Treasury Under Secretary for Enforcement Raymond W. Kelly said Monday that federal authorities investigating a money laundering method in the New York metropolitan area have seized more than $29 million in illicit funds being sent to Colombia.

The anti-money laundering initiative was…

SACRAMENTO-- Attorney General Dan Lungren today applauded the U.S. Department of Treasury's Financial Crimes Enforcement Network (FinCEN) proposal to more tightly regulate cash transactions at California cardrooms and Indian casinos.

"The Treasury Department's effort to clamp down on the…

The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued today a notice of proposed rulemaking that would extend regulations aimed at combating money laundering to card club establishments.

Most frequently found in California, card clubs typically offer…

Law enforcement financial investigations will be aided by a long sought provision in legislation recently signed by President Clinton. The Taxpayers Bill of Rights, HR 2337, contains a provision which will now allow federal, state, local, and foreign government agencies access to information…

The Treasury Department today announced a new bank reporting rule designed to both significantly reduce unnecessary paperwork for America's banks and improve the quality of information routinely provided to law enforcement.

The new rule will go into effect May 1, 1996, changing the…

The Treasury Department today announced a new bank reporting rule designed to both significantly reduce unnecessary paperwork for America's banks and improve the quality of information routinely provided to law enforcement.

The new rule will go into effect May 1, 1996, changing the…

Today, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board issued amendments to the two funds transmittal (wire transfer) rules that were published in January 1995 and extended the effective date of the rules, as amended, to May 28,…

The Treasury's Financial Crimes Enforcement Network (FinCEN) will issue a final rule tomorrow that brings tribal casinos under Treasury's anti-money laundering controls. The final rule delays the effective date of the rule to August 1, 1996, allowing tribal casinos sufficient time to design…

A new regulation announced Monday will aid criminal investigations while significantly cutting costly and burdensome paperwork for America's banking community.

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the…

Ronald K. Noble, Treasury's Under Secretary for Enforcement, will chair the fourth meeting of the Bank Secrecy Act (BSA) Advisory Group today. "The BSA Advisory Group anticipated the letter and spirit of the President's recent regulatory reinvention initiative," said Under Secretary Noble. "It…

The BSA is the core of Treasury's anti-money laundering efforts, and one of the main elements of this authority is the ability to require financial institutions to retain records that can be an invaluable tool in criminal, tax or regulatory proceedings.

"Wire transfers are the arteries of…