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| News
FinCEN Announces $15 Million Civil Money Penalty Against Shinhan Bank America for Violations of the Bank Secrecy Act
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) assessed a $15 million civil money penalty against Shinhan Bank America (SHBA) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. “SHBA willfully disregarded its obligations under the BSA to maintain…
| News
FinCEN to Issue Notices Requesting Comment on Beneficial Ownership Forms: 30-Day Paperwork Reduction Act Notices for the Beneficial Ownership Information Report and the FinCEN Identifier Application
| Federal Register Notice
Beneficial Ownership Information Reporting Deadline Extension for Reporting Companies Created or Registered in 2024
| News
FinCEN issues a Notice of Proposed Rulemaking to extend the deadline for certain companies to file their beneficial ownership information reports
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is issuing a Notice of Proposed Rulemaking (NPRM) to extend the deadline for certain reporting companies to file their initial beneficial ownership information (BOI) reports. FinCEN is proposing to amend its final BOI Reporting Rule to…
BOI_logo_homepage_320xx213
| News
FinCEN Issues Compliance Guide to Help Small Businesses Report Beneficial Ownership Information
WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a Small Entity Compliance Guide to assist the small business community in complying with the beneficial ownership information (BOI) reporting rule.  Starting in 2024, many entities…
| Enforcement Action
In the Matter of Bancrédito International Bank and Trust Corporation
| News
FinCEN Announces $15 Million Civil Money Penalty against Bancrédito International Bank and Trust Corporation for Violations of the Bank Secrecy Act
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) assessed a $15 million civil money penalty against Bancrédito International Bank and Trust Corporation (Bancrédito) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations.  This is FinCEN’s first…
| News
FinCEN Issues Alert on Prevalent Virtual Currency Investment Scam Commonly Known as “Pig Butchering”
WASHINGTON—Today, the Financial Crimes Enforcement Network (FinCEN) issued an alert to highlight a prominent virtual currency investment scam known as “pig butchering.”  Multiple U.S. law enforcement sources estimate victims in the United States have lost billions of dollars to these…
Insignia
| News
FinCEN Analysis Reveals Trends and Patterns in Suspicious Activity Potentially Tied to Evasion of Russia-Related Export Controls
WASHINGTON—Today, the Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis (FTA) on patterns and trends contained in Bank Secrecy Act (BSA) reporting on suspected evasion of Russia-related export controls. The BSA reports analyzed for this FTA were filed in response to…
| News
READOUT: FinCEN Hosts Public-Private Dialogue on Countering the DPRK's Illicit Cyber Activities
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) hosted a FinCEN Exchange last week focused on countering the abuse of the digital ecosystem by the Democratic People’s Republic of Korea (DPRK).  The DPRK continues to use, steal, and launder virtual assets in order to fund its…