News & Insights

65 News Results
September 15, 2023

A Puerto Rico-based International Banking Entity settled charges with FinCEN for failing to (i) file suspicious activity reports, (ii) conduct adequate due diligence for foreign correspondent accounts and (iii) implement an anti-money laundering compliance program.

April 26, 2023

Treasury recommended strategies to prevent "de-risking" - the "practice of financial institutions terminating or restricting business relationships indiscriminately with broad categories of clients, rather than analyzing and managing the risk of clients in a targeted manner."

February 27, 2023

FinCEN warned financial institutions of a recent surge in check fraud schemes targeting the U.S. mail system and urged financial institutions to report any suspected mail theft-related check fraud.