DOJ Grilled on Reporting Order Targeting Border Businesses

The Fifth Circuit appeared inclined to continue blocking stricter reporting requirements for money services businesses along ...
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FinCEN’s Proposed Rulemaking and Its Implications for Financial Institutions

The Bank Secrecy Act (BSA) program requirements are going to change. On June 28, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rule Making (NPRM) to strengthen ...
American Banker

FinCEN warns of surge in financially motivated sextortion

The Financial Crimes Enforcement Network (FinCEN) issued on Monday a notice alerting U.S. financial institutions that reports of financially motivated sextortion schemes have sharply increased.
JD Supra

Financial Institutions Permitted to Use Third Parties to Collect Customers’ Taxpayer Identification Numbers for Identity Verification

Our Financial Services and White Collar, Government & Internal Investigations Teams examine the Financial Crimes Enforcement Network’s new customer identification program (CIP) exemption that allows ...

Abbott launches investigation into City of Elgin amid allegations of financial crimes

Governor Abbott has ordered state law enforcement to investigate a city amid allegations of financial crimes.On Thursday,Governor Greg Abbott d ...
Compliance Week

FinCEN again delays U.S. ban on three Mexican financial institutions

The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October. The U.S. Treasury’s Financial Crimes Enforcement Network ...