Financial Crimes Enforcement Network (FinCEN)
Shell-company registry might not halt US dirty money, say experts
Observers raise questions over verifying beneficial owner info on proposed FinCEN database
US banks harbour concerns over agencies’ cyber risk rule
Lack of reporting template means “people can give the least amount of data possible”, warns CISO
Top 10 op risks 2021: theft and fraud
Changes in working practices since Covid shift angle of criminal attack on financial institutions
AML bill will swamp financial crime teams, banks warn
Proposed US legislation could force firms to run new and old systems in parallel, stretching resources
Fight against dirty money falters in blizzard of SARs
Authorities are swamped with suspicious activity reports, many of which are never investigated
After FinCEN leak, banks want more help from regulators
OpRisk Europe: Suspicious activity reports are going into a “black hole”, banks complain
Banks warn of rise in ransomware attacks
OpRisk Europe: Banks must improve resilience of remote-working staff, says Wells Fargo financial crime expert
Banks welcome US overhaul of AML rules
Proposals signal shift to risk-based approach to financial crime detection
Money laundering dominates US suspicious activity reports
Figures from the US Financial Crime Enforcement show a near-record level of suspicious transactions, especially around money laundering
FinCen AML advisory notice a warning shot to banks
Banks must heed advisory message promoting compliance culture
Bitcoin regulation challenges and complexities
Funny money
US regulators 'hostile' to digital currencies
EU regulators have yet to consider their approach to currencies such as Bitcoin
US anti-money-laundering proposals for pre-paid credit cards criticised
Comments period of proposed Fincen regulation finishes amid a torrent of criticism
Sponsored webinar: Strengthening the defences
The challenges that fraud presents to financial institutions
A long hard look at fraud
Financial Crime
Patriot Act due diligence rules finalised
Daily news headlines
US regulators tackle unintended consequences of BSA enforcement
At a recent anti-money laundering (AML) conference in New York, US financial regulators conceded the enforcement of the Bank Secrecy Act (BSA) has produced negative, unintended consequences in the financial industry.
Treasury increases budget to fight financial crime
The Bush Administration has proposed a 12.7% increase in its budgetary allocation to the Financial Crimes Enforcement Network (FinCEN) to strengthen the country’s financial war on terror and other financial crimes.