FinCEN notified U.S. financial institutions that the Financial Action Task Force updated its list of jurisdictions with strategic deficiencies in their AML/CFT regimes.
At SIFMA's 2022 Anti-Money Laundering & Financial Crimes Conference, DOJ and Treasury executives focused their remarks on recent efforts to respond to Russia's invasion of Ukraine and the management of money laundering risks related to digital assets.
FinCEN issued an advance notice of proposed rulemaking "on the possibility of FinCEN establishing a "no-action letter process" under the Anti-Money Laundering Act of 2020.
Treasury Under Secretary for Terrorism and Financial Intelligence Brian E. Nelson (i) reviewed the Department's efforts to target Russia's "war machine " and (ii) identified risks present in countering illicit finance.
A dually-registered broker-dealer and investment adviser settled SEC charges for AML program failures and resulting Suspicious Activity Report filing failures.
In its "2022 National Strategy for Combating Terrorist and Other Illicit Financing," Treasury prioritized closing regulatory and legal gaps in the AML/CFT regime and the use of new technology to increase the efficiency and effectiveness of its efforts.
A California-based broker-dealer settled FINRA charges for failing to maintain adequate supervisory protocols regarding outside business activities and private securities transactions and for failing to comply with a FinCEN mandated audit.
FinCEN renewed and expanded their Geographic Targeting Orders requiring U.S. title insurance companies to collect and report beneficial ownership information for certain residential real estate purchases.
New York Department of FInancial Services Superintendent Adrienne A. Harris issued new guidance on the importance of blockchain analytics for purposes of compliance with the Bank Secrecy Act and OFAC-issued sanctions.
