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FinCEN Issues Warning About COVID-19 Vaccine Scams, Cyberattacks

PYMNTS

As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. . So far, two vaccinations have been approved by the U.S.

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FinCEN Hits Capital One For $390 Million; Says Bank Violated Bank Secrecy Act

PYMNTS

The Financial Crimes Enforcement Network (FinCEN) late Friday (Jan. 15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). financial system.”.

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FinCEN Reminds FIs To Beware During COVID-19 Crisis

PYMNTS

Three weeks after the Financial Crimes Enforcement Network (FinCEN) issued guidance to financial institutions (FIs) on COVID-19, the division of the U.S. FinCEN said it expects FIs to continue following a so-called risk-based approach to adhere to the BSA obligations. FinCEN said the former executive at U.S.

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BSA Officials At FIs Targeted By Phishing Campaign

PYMNTS

In a reported phishing campaign that began last month, Bank Secrecy Act (BSA) officials at credit unions in the U.S. are said to have been sent emails that appeared to have come from other BSA officers. It was not clear if any BSA officers had decided to follow the link to the site, according to the report.

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FinCEN Director: Bankers, Lawyers Provide Valuable Information To Deter Crime

PYMNTS

Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco also addressed the Bank Secrecy Act (BSA) and the importance of beneficial ownership information. And he covered FinCEN’s BSA Value Project, the ongoing federal banking agency working group efforts, and organizational changes within the agency.

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FinCEN Deputy Director Talks Reform, NBFI Supervision

PYMNTS

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. FinCEN also wants to ensure that it is staying on top of regulations when it comes to non-banking financial institutions.

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BEC Targets BSA Officials At Credit Unions

PYMNTS

To that end, phishing attacks, more commonly known as business email compromises (BECs), have been aimed at Bank Secrecy Act (BSA) officials at credit unions. Krebs on Security noted that the emails sent to officials at the United States credit unions looked like they were being sent by other BSA officials. As reported, the U.S.

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