Tag: FinCEN

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.

TD Bank has been slapped with a staggering $3bn penalty for breaches of the BSA marking a record-setting moment in U.S. financial regulatory history.

Enhanced Due Diligence (EDD) represents an advanced level of scrutiny, serving as a crucial component beyond basic KYC checks.

KYB, or Know Your Business, is an essential process for businesses engaging with other companies. It serves as the backbone of safe, compliant third-party relationships, enabling firms to assess and manage potential risks before formalizing business agreements.

In a move to modernize AML/CFT frameworks, the U.S. Department of the Treasury's FinCEN has unveiled a proposal under the Anti-Money Laundering Act of 2020.

In a stride towards combating financial crimes, the US introduced the CTA, designed to peel back the layers of secrecy often associated with business entities.