The Federal Reserve Board, the FDIC, FinCEN, the OCC and the Conference of State Bank Supervisors clarified the legal status of hemp and Suspicious Activity Report obligations for banks under the Bank Secrecy Act.
Upon finding that Iran is a "jurisdiction of primary money laundering concern," FinCEN adopted a final rule imposing strict prohibitions on the access of Iranian financial institutions to the U.S. financial system.
In a joint statement, the CFTC, FinCEN and the SEC reminded those engaged in digital asset transactions to comply with anti-money laundering and countering the financing of terrorism obligations under the Bank Secrecy Act.
The CFTC Division of Swap Dealer and Intermediary Oversight clarified the circumstances in which Customer Identification Program and Beneficial Ownership regulations under the Bank Secrecy Act do not apply to "voice" brokers.
The Financial Crimes Enforcement Network targeted business email compromise scams, which occur when an individual or business is sent false payment instructions, compromising the victim's email account.