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FinCEN Provides Guidance Regarding Updated FATF Jurisdictions List
On September 17, FinCEN issued Advisory FIN-2013-A006, which provides considerations for financial institutions when reviewing their obligations and risk-based approaches with respect to certain...
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Basel Committee Finalizes AML/CTF Risk Management Guidance
On January 15, the Basel Committee on Banking Supervision issued final guidance regarding anti-money laundering/counter-terrorism financing (AML/CTF) risk management. The Committee states that the...
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FinCEN Director Discusses 2014 Priorities
On February 20, in remarks to the Florida International Bankers Association Anti-Money Laundering Conference, FinCEN Director Jennifer Shasky Calvery reviewed FinCEN’s key initiatives over the past...
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FinCEN Guidance Updates FATF AML/CFT Deficient Jurisdictions List
On March 25, FinCEN issued an advisory notice, FIN-2014-A003, in which it provided guidance to financial institutions for reviewing their obligations and risk-based approaches with respect to certain...
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Special Alert: Lessons Learned from Arab Bank’s U.S. Anti-Terrorism Act Verdict
On September 22, 2014, following a two-month trial, a federal jury in the Eastern District of New York ruled in favor of a group of 297 individual plaintiffs in a civil suit accusing Arab Bank PLC,...
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White House Proposes To Rescind Cuba’s Designation as a State Sponsor of...
On April 14, President Obama submitted to Congress a report and certifications signaling the Administration’s intent to rescind Cuba’s designation as a State Sponsor of Terrorism, according to a...
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Financial Action Task Force Issues Guidance Urging Risk-Based Approach to...
On June 29, the Financial Action Task Force (FATF) issued a report, Guidance for a Risk-Based Approach to Virtual Currencies,part of a staged approach focusing on the points of intersection that...
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FinCEN Issues Advisory on FATF’s List of Jurisdictions with AML/CFT Deficiencies
On July 20, FinCEN issued an advisory to financial institutions with updates to the Financial Action Task Force’s (FATF) list of jurisdictions containing strategic anti-money...
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FinCEN Appoints Andrea Sharrin as Policy Division Associate Director,...
On December 7, FinCEN announced the selection of Andrea Sharrin as Associate Director for its Policy Division, the division responsible for drafting BSA rules as well as addressing strategic policy...
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FinCEN Updates FATF AML/CFT Deficient Jurisdictions List
On January 19, FinCEN issued an advisory, FIN-2016-A001, to provide financial institutions with guidance on reviewing their obligations and risk-based approaches with respect to certain jurisdictions....
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European Commission Releases Fact Sheet on Plan to Strengthen the Fight...
On February 2, the European Commission issued a fact sheet regarding its plan to strengthen the fight against terrorist financing, posing and answering questions on topic areas including, but not...
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FATF Updates List of Jurisdictions with AML Deficiencies, FinCEN Issues...
On March 21, FinCEN issued advisory bulletin FIN-2016-A002 notifying financial institutions of updates to the Financial Action Task Force’s (FATF) list of jurisdictions containing AML/CFT deficiencies....
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FinCEN Proposes Imposing BSA Requirements on Crowdfunding Portals
On April 4, FinCEN issued a proposed rule to amend the definitions of “broker or dealer in securities” and “broker-dealer” under the regulations implementing the BSA. Specifically, FinCEN proposed that...
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FinCEN Determines North Korea is a Jurisdiction of Primary Money Laundering...
On June 1, FinCEN announced a Notice of Finding that North Korea is a jurisdiction of “primary money laundering concern” under Section 311 of the USA PATRIOT Act. According to FinCEN, North Korea is a...
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FATF Updates List of Jurisdictions with AML/CFT Deficiencies, FinCEN Issues...
On September 7, FinCEN issued advisory bulletin FIN-2016-A004 notifying financial institutions of updates to the Financial Action Task Force’s (FATF) list of jurisdictions containing anti-money...
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FinCEN Acting Director Comments on Recent Casino Actions and Culture of...
On October 3, FinCEN Acting Director Jamal El-Hindi issued a statement regarding anti-money laundering and countering the financing of terrorism compliance. According to Acting Director El-Hindi, two...
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