PYMNTS

JULY 16, 2020

Treasury’s Financial Crimes Enforcement Network (FinCEN) is warning financial institutions of a “high-profile” new scam exploiting Twitter accounts to try and scam convertible virtual currency (CVC) out of individuals, according to a Thursday (July 16) press release.

Scams 80

Scams Suspicious Activity Report (SAR) Treasury Fincen 80

PYMNTS

OCTOBER 27, 2016

are accustomed to submitting suspicious activity reports (SARs) to the government when fraud cases involving at least $5,000 take place. The details that have to be included in these confidential reports are determined by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Banks in the U.S.

Suspicious Activity Report (SAR) 59

Suspicious Activity Report (SAR) Treasury Fincen SARS 59

FICO

DECEMBER 23, 2020

This focus on increased regulation will be particularly prevalent in North America, as FICO’s Claudia Huesmann points out, “FinCEN is aiming to close the gaps in AML regulations for banks not regulated by a federal functional regulator. Earlier this year in the U.S., As organizations are faced with this onslaught of attacks, the U.S.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

Stax

DECEMBER 4, 2023

It mandates ongoing monitoring of suspicious activity, recordkeeping, and submitting suspicious activity reports (SARs) to the government. As such, the Bank Secrecy Act (BSA) establishes certain AML program requirements for financial institutions in the US. The USA Patriot Act lays down which entities are required to do so.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

PYMNTS

SEPTEMBER 21, 2020

The Financial Crimes Enforcement Network ( FinCEN ) uncovered government documents on how giant financial institutions move trillions of dollars in suspicious transactions, padding their bottom line, while terrorists, drug dealers and corrupt politicians are allowed to run free. FinCEN, a division of the U.S.

Fincen 111

Fincen Suspicious Activity Report (SAR) Money Laundering SARS 111

PYMNTS

AUGUST 13, 2018

That’s the tally that FinCEN Director Kenneth A. Blanco told a conference last week that FinCEN, which operates as part of the Treasury Department, sees as cryptocurrency gains traction. Among those rulings, FinCEN has said that such rulings include crypto mining and trading platforms and issuance of ownership certificates.

Fincen 43

Fincen Cryptocurrency Office of the Comptroller of the Currency Multi-Currency 43

FICO

DECEMBER 15, 2020

The headliner provision is the creation of a beneficial ownership registry within the Financial Crimes Enforcement Network (FinCEN), requiring millions of U.S. to report their beneficial owners to FinCEN. companies and companies doing business in the U.S.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52