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Charlotte, N.C. - In a speech today to the Money Transmitter Regulators Association Annual Conference, James H. Freis, Jr., Director of the Financial Crimes Enforcement Network (FinCEN), announced the availability of a new reference on common errors seen in Suspicious Activity Reports (SARs). The…

The Financial Crimes Enforcement Network ("FinCEN") has noticed common errors in the filing of Suspicious Activity Reports ("SARs"). Although these errors were noted primarily through studying Suspicious Activity Reports by Money Services Business (Form 109) filings, we believe that publishing an…

U.S. Treasurer Anna Escobedo Cabral will visit the Financial Crimes Enforcement Network (FinCEN) to announce the launch of outreach materials for Money Services Businesses (MSBs) in seven (7) foreign languages. The outreach materials, which are already available in English, will be available in the…

The Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the Currency (OCC) today announced the assessment of concurrent civil money penalties, each $10 million, against Union Bank of California, N.A. (Union Bank ) of San Francisco, California, for violations of the…

Good morning. I would first like to thank the NAFCU members who worked to coordinate this important event. I'm pleased to be here to share my thoughts and I applaud you for coming to Washington, DC to make your voices heard in Congress. Let me share a little about my background. One of my first…

The Financial Crimes Enforcement Network is issuing this interpretive guidance to clarify the due diligence obligations of executing dealers in over-the-counter foreign exchange and derivatives markets (“OTC derivatives markets”) pursuant to prime brokerage arrangements under our rules implementing…

FinCEN Issues a Warning Notice Against Fraudulent Stop Order ScamsThe Financial Crimes Enforcement Network (FinCEN) announced today the issuance of a warning notice about an ongoing scam whereby individuals are using the Treasury or the FinCEN seal and fraudulently identifying themselves as…

The Federal Financial Institutions Examination Council (FFIEC) today released the revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revised manual reflects the ongoing commitment of the federal and state banking agencies and the Financial Crimes Enforcement Network (…