Tag: FinCEN

Banks in the US will benefit from greater flexibility in collecting Taxpayer Identification Numbers (TINs) under new Customer Identification Program (CIP) rules from FinCEN, the OCC and the FDIC.

AML compliance teams are facing growing challenges in how they handle backlogs of alerts. Traditionally, banks and financial institutions have approached these backlogs by...

With FinCEN’s final rule extending BSA obligations to RIAs and ERAs from January 1, 2026, the investment advisory landscape is entering a new era...

The Financial Crimes Enforcement Network (FinCEN) has recently issued a pivotal final rule that mandates registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish comprehensive anti-money laundering (AML) and countering the financing of terrorism (CFT) frameworks under the Bank Secrecy Act (BSA).

In the US, KYB is not just a regulatory requirement but a fundamental practice critical for maintaining the integrity of financial operations and fostering trust within the business ecosystem.

In recent years, the international community has intensified sanctions against Russia and Belarus, with the European Union, UK, US, and other G7 countries expanding multilateral sanctions.

As artificial intelligence (AI) continues to transform financial crime compliance, a new industry benchmark is emerging: compliance-first AI. In a landscape where balancing cutting-edge technology...

On December 3, 2024, the enforcement of the CTA was halted by a nationwide preliminary injunction, casting doubt over its future implementation. According to Moody's,...

For RIAs and ERAs, the dawn of a new year presents not just opportunities but significant regulatory responsibilities. With the introduction of FinCEN's AML...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.