FinCEN and the OCC penalized a Texas-based bank for willful violations of the Bank Secrecy Act and its implementing regulations.
News & Insights
FinCEN issued the first government-wide list of priorities concerning anti-money laundering and counter-terrorism financing policy.
In a joint statement, the Federal Reserve Board, the FDIC and the OCC, in consultation with FinCEN and the National Credit Union Administration, described how the agencies' "Supervisory Guidance on Model Risk Management" relates to Bank Secrecy Act / Anti-Money Laundering systems.
FinCEN, the Federal Reserve Board, the FDIC, the National Credit Union Administration and the OCC issued new guidance on suspicious activity reporting for covered financial institutions.
A FinCEN and Federal Reserve Board rule proposal to reduce the dollar-value threshold at which the Bank Secrecy Act requires financial institutions to obtain, retain and transmit information on certain fund transfers and transmittals was published in the Federal Register.