PYMNTS

APRIL 3, 2020

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.

Fincen 56

Fincen BSA Crime Financial Crimes 56

PYMNTS

MARCH 4, 2020

The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. Bank , with a $450,000 civil penalty for his negligence in failing to intercept breaches of the Bank Secrecy Act (BSA), FinCEN announced on Wednesday (March 4). . Department of Justice (DOJ) to penalize U.S.

AML 52

AML Suspicious Activity Report (SAR) Fincen BSA 52

PYMNTS

FEBRUARY 15, 2018

Bank was slapped with a $185 million civil penalty for what the Financial Crimes Enforcement Network (FinCEN), in coordination with the Office of the Comptroller of the Currency (OCC) and the U.S. According to a press release, FinCEN said the obligation will be satisfied by a $70 million payment from U.S. Bank to the U.S.

Money Laundering 43

Money Laundering Fincen Office of the Comptroller of the Currency Settlement 43

PYMNTS

NOVEMBER 25, 2019

Senate, which recently introduced the Veterans Members Business Loan Act to exempt CU loans for veteran-owned businesses from the current regulatory cap of 12.25 A recent Financial Crimes Enforcement Network (FinCEN) study found that 162 CUs across the U.S. law, leaving many CUs at risk of federal investigation or prosecution.

Credit Union 61

Credit Union Cybersecurity Credit Union Service Organization Fincen 61

PYMNTS

MAY 15, 2017

billion at the time — or slightly more than 11 percent of its $14 billion market cap then. Federal law enforcement authorities and internationally renowned independent security organizations also point to bitcoin as one of the major reasons that cybercrimes, especially ransomware, have taken off. tell a very interesting story.

Bitcoin 62

Bitcoin Ransomware Multi-Currency Regulations 62

FICO

DECEMBER 15, 2020

The legislation includes nearly 200 pages of the most significant reforms to the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws since the USA PATRIOT Act of 2001. The headliner provision is the creation of a beneficial ownership registry within the Financial Crimes Enforcement Network (FinCEN), requiring millions of U.S.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52