Payments Source

JANUARY 5, 2021

Several government agencies have made deeper moves into crypto oversight, leaving a trail of angry executives and unresolved political questions. And there's still no sign of a central bank digital currency, leaving the U.S. at risk of falling behind other countries in the race to support faster payment processing.

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Fincen OCC Digital Currency Central Bank 154

PYMNTS

SEPTEMBER 24, 2019

The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth A. FinCEN is seeing around 5,000 account takeover reports each month involving approximately $350 million,” he said. Blanco, gave a speech at the 2019 Federal Identity (FedID) Forum and Exposition on Tuesday (Sept. financial institutions,” he said.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

Payments Source

MAY 17, 2018

For cryptocurrency entrepreneurs in particular, many of whom are just developing the anti-money laundering programs they are required to have under other FinCEN rules, the CDD rule is worth taking note of, writes Laurel Loomis Rimon, senior counsel at O'Melveny & Myers LLP.

Fincen 71

Fincen Cryptocurrency Regs Money Laundering 71

PYMNTS

AUGUST 14, 2019

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. FinCEN expects that your casino or card club is monitoring your sports betting programs for potentially suspicious activity. The responsibility of casinos managing all of those new transactions.

Fincen 65

Fincen Financial Crimes Crime Suspicious Activity Report (SAR) 65

Payments Source

OCTOBER 14, 2020

Better dialogue between banks and authorities coupled with stronger anti-money-laundering measures could help address the suspicious activity report flaws revealed by investigative journalists.

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Fincen Money Laundering AML Authorization 101

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

Payments Dive

JUNE 4, 2019

Even with FinCEN's new guidelines on cryptocurrency, there are still many gray areas. Misiala Jr., counsel at BakerHostetler provides some clarity in a Q&A.

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Fincen Regulations Blockchain Cryptocurrency 137

PYMNTS

DECEMBER 10, 2020

Financial Crimes Enforcement Network ( FinCEN ) Director Kenneth A. FinCEN, according to the release, got feedback from the financial industry, and Blanco provided three clarifications. Blanco , speaking on Thursday (Dec.

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Fincen Crime Financial Crimes Money Laundering 61

PYMNTS

FEBRUARY 11, 2020

The Department of the Treasury Financial Crimes Enforcement Network (FinCEN) has issued a new ruling on the reporting of currency transactions for sole proprietorships and legal entities operating under a “Doing Business As” (DBA) name, according to a Monday (Feb. Those rules were based on FinCEN Form 104, which is now obsolete.

Fincen 52

Fincen Rules Transactions Law Enforcement 52

PYMNTS

NOVEMBER 16, 2018

The Financial Crimes Enforcement Network (FinCEN) announced that it has issued revised Geographic Targeting Orders (GTOs), which will now require U.S. In addition, FinCEN is requiring for purchases via virtual currencies to be reported. FinCEN Director Kenneth A.

Fincen 53

Fincen Financial Crimes Crime SARS 53

Global Fintech & Digital Assets

NOVEMBER 2, 2023

Yatter , and Deric Behar On October 19, 2023, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a Notice of Proposed Rule Making (NPRM) that would designate as a “primary money laundering concern” all non-US convertible virtual currency [1] mixing (CVC mixing). By Parag Patel , Eric S.

Fincen 52

Fincen Money Laundering Law Enforcement Non-Bank 52

PYMNTS

JULY 5, 2020

In updated rules from the Financial Crimes Enforcement Network ( FinCEN ), the U.S. In addition, FinCEN expects financial institutions to monitor the transactions of hemp-related businesses for signs of suspicious or unlawful activity, such as transactions above $10,000 in a day.

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Treasury Office of the Comptroller of the Currency Fincen Financial Crimes 140

PYMNTS

SEPTEMBER 21, 2020

The Financial Crimes Enforcement Network ( FinCEN ) uncovered government documents on how giant financial institutions (FIs) move trillions of dollars in suspicious transactions, padding their bottom lines, while terrorists, drug dealers and corrupt politicians are allowed to run free. . FinCEN, a division of the U.S. On Monday (Sept.

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Fincen Financial Crimes Crime Accounts 118

PYMNTS

NOVEMBER 13, 2019

The Financial Crimes Enforcement Network (FinCEN) has issued an advisory to announce an updated list of jurisdictions with anti-money laundering (AML) and Countering Financing of Terrorism (CFT) Act deficiencies.

Fincen 51

Fincen AML Money Laundering Correspondent 51

Fintech News

OCTOBER 31, 2024

It’s also registered with the US Financial Crimes Enforcement Network (FinCEN). From API to no-code integration, the company’s frictionless, white-label payment solutions are designed to blend smoothly into existing business operations, all while upholding the highest standards of security and compliance.

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Cross-Border Payments Cross-Border Payment APIs and Integration Multi-Currency 130

PYMNTS

SEPTEMBER 11, 2019

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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Fincen Non-Bank Money Laundering AML 46

PYMNTS

DECEMBER 10, 2019

Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco added that FinCEN is “committed to working with key stakeholders, including Congress, to find effective, sensible solutions to address this serious and growing gap in our national security.”. Blanco told bankers and lawyers at a conference Dec.

Fincen 52

Fincen Crime Suspicious Activity Report (SAR) BSA 52

The Paypers

NOVEMBER 15, 2024

The US Department of the Treasury’s Financial Crimes Enforcement Network ( FinCEN ) has proceeded with issuing a warning to support financial institutions in identifying fraud schemes involving deepfake media.

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Fincen Deepfake Financial Crimes Crime 41

PYMNTS

AUGUST 5, 2019

To that end, the Financial Crimes Enforcement Network (FinCEN), part of the US Department of the Treasury, has estimated that fraudsters have tried to scam as much as $9 billion through business e-mail compromise attempts since 2016. Taken on a daily basis, the BEC scams have tried to siphon off $8.7 Targeting County Governments.

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Business Email Compromise Fincen Scams Email Compromise 43

Payments Source

OCTOBER 21, 2019

Kenneth Blanco's tough comments appeared to target payments providers that offer their users anonymity.

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Fincen AML Compliance Payments 67

Payments Source

SEPTEMBER 24, 2019

Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms.

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Fincen FinTech Fraud Detection Data Security 63

PYMNTS

JULY 16, 2020

Treasury’s Financial Crimes Enforcement Network (FinCEN) is warning financial institutions of a “high-profile” new scam exploiting Twitter accounts to try and scam convertible virtual currency (CVC) out of individuals, according to a Thursday (July 16) press release.

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Scams Suspicious Activity Report (SAR) Treasury Fincen 80

The Paypers

MARCH 13, 2025

The US Treasury's FinCEN has issued a Geographic Targeting Order (GTO) aimed at reinforcing efforts to combat illegal activities along the US southwest border.

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Fincen Treasury 36

The Paypers

MARCH 29, 2024

FinCEN has announced its decision to issue an RFI related to the requirements for banks under the CIP Rule to collect a TIN from a client before opening an account.

Fincen 41

Fincen Rules Accounts 41

The Paypers

SEPTEMBER 4, 2024

The US Department of the Treasury's FinCEN has introduced two rules to safeguard real estate and investment advisers from illicit finance.

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Fincen Rules Finance Treasury 36

The Paypers

FEBRUARY 10, 2025

Brink ’s Global Services USA has reached agreements with DOJ and FinCEN to resolve investigations related to historical cross-border currency shipments and compliance with federal money-transmitting laws.

Fincen 36

Fincen Cross-Border Agreements Laws 36

Payments Source

MAY 16, 2018

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

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Fincen Rules Law Enforcement AML 62

The Paypers

MARCH 13, 2025

The US Treasury's FinCEN has issued a Geographic Targeting Order (GTO) aimed at reinforcing efforts to combat illegal activities along the US Southwest border.

Fincen 36

Fincen Treasury 36

Payments Source

NOVEMBER 21, 2017

Until FinCEN decides to explicitly regulate transaction laundering, we will not see an organized effort at the state level, writes Ron Teicher, CEO of EverCompliant.

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Fincen Transactions Regulations ISOs 71

PYMNTS

OCTOBER 21, 2019

The head of the Financial Crimes Enforcement Network (FinCEN) has warned FinTech firms that they must abide by anti-money laundering (AML) laws. The expectation is that you will comply with existing regulation,” said Director Kenneth Blanco at a FinTech event, according to American Banker.

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Fincen AML Laws FinTech 40

PYMNTS

MAY 2, 2018

The Financial Crimes Enforcement Network’s (FinCEN’s) customer due diligence (CDD) final requirements take effect on May 11. The rules, put forth by FinCEN two years ago, mandate that financial institutions (FIs) adopt more robust customer due diligence procedures.

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Fincen Due Diligence Technology Legal 40

PYMNTS

OCTOBER 19, 2020

The Financial Crimes Enforcement Network ( FinCEN ) has instituted a $60 million civil money fine against the primary operator, administrator and founder of two digital currency “tumblers” or “mixers” for contravening the Bank Secrecy Act and its implementing rules, according to a Monday (Oct. 19) announcement.

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Fincen Mitigation Risk AML 53

PYMNTS

MARCH 30, 2020

Treasury Department’s Financial Crimes Enforcement Network ( FinCEN ) before intentions for a roll out in the United States, CoinDesk reported. .” In other news, Bitget, which is based in Singapore, said it had registered as a money services business with U.S.

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CBDC Interbank Settlement Digital Currency Central Bank 98

Segpay

MARCH 24, 2025

USA: PSPs may need a Money Transmitter License (MTL) in each state they operate, plus registration with FinCEN as a Money Services Business (MSB). USA: Stricter transaction monitoring, requiring Suspicious Activity Reports (SARs) to FinCEN and geographical targeting orders (GTOs) for high-risk areas.

Compliance 71

Compliance Suspicious Activity Report (SAR) Fincen AML 71

Payments Dive

FEBRUARY 12, 2020

FinCEN put into effect the most stringent KYC regulations to date requiring FIs to comply with new Customer Due Diligence standards on beneficial ownership, along with multiple FAQs on ID collection and verification.

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Best Practices Due Diligence Fincen Process 74

Payments Source

JULY 4, 2016

As we approach the midpoint of 2016, two of the most pressing matters in the payments industry have become more acute—the push for greater transparency and accountability in merchant acquiring and processing.

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Fincen Acquirers Accounts Process 61

Fintech News

DECEMBER 6, 2023

billion to the Financial Crimes Enforcement Network (FinCEN) and US$968 million to the Office of Foreign Assets Control (OFAC). CZ had pleaded guilty to criminal charges for anti-money laundering and violations of U.S. sanctions which led to a historic settlement where Binance agreed to pay US$3.4

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Web 3.0 Money Laundering OFAC Fincen 103