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.

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Fincen Financial Crimes Crime SARS 53

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. 11) about the importance of innovation and the regulation of non-banking financial institutions (NBFI), according to a release.

Fincen 46

Fincen Non-Bank Money Laundering AML 46

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

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.

Fincen 118

Fincen Financial Crimes Crime Accounts 118

Segpay

MARCH 24, 2025

By comparing the Australian legal e-gaming and e-gambling landscape with that of the USA, we want to make it easier to understand for our readers who are familiar with US regulations. Before addressing gaming and gambling regulations, let’s take a helicopter view at the regulatory frameworks that regulate the payments industry.

Compliance 71

Compliance Suspicious Activity Report (SAR) Fincen AML 71

PYMNTS

DECEMBER 3, 2019

After further evaluation of the USDA interim final rule, the Financial Crimes Enforcement Network (FinCEN) will issue additional guidance. The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), FinCEN , the OCC and the Conference of State Bank Supervisors participated in issuing the definitions and guidelines.

Suspicious Activity Report (SAR) 55

Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

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.

Fincen 71

Fincen Transactions Regulations ISOs 71

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. This in the wake of the OCC’s Sept. The Pandemic Pop.

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Treasury Cryptocurrency Stablecoins Fincen 129

PYMNTS

JANUARY 14, 2021

Bitcoin is about to get even more scrutiny by regulators, on a global stage. As reported by Reuters this week, Lagarde said at a conference sponsored by the newswire that bitcoin should be regulated — worldwide. She went on to say that “there has to be regulation. She pointed to the crypto’s use in criminal activity.

Money Laundering 61

Money Laundering Bitcoin Regulations Central Bank 61

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.

Best Practices 74

Best Practices Due Diligence Fincen Process 74

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.

Fincen 40

Fincen Due Diligence Technology Legal 40

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.

Fincen 63

Fincen FinTech Fraud Detection Data Security 63

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

NOVEMBER 4, 2020

They reportedly held the funds in a way that would've mandated regulation under Brazilian law, with which Fagundes and the others allegedly didn't comply. Cryptocurrency has become something of a go-to method for scammers , according to DOJ, as exchanges are often lightly regulated and there are no easy ways to follow the money.

Fincen 93

Fincen Crime Cryptocurrency Money Laundering 93

PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. That’s according to the U.S. In the report from the U.S. The DOJ report stands as only the latest of warnings over the risks tied to cryptos.

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AML Fincen Cryptocurrency BSA 82

PYMNTS

JUNE 18, 2020

The payment network was also designed to be in compliance with the relevant federal and international regulations regarding money transfers, providing “end-to-end Travel Rule compliance solution for satisfying both FinCEN requirements and FATF recommendations.”.

Bank Routing Number 98

Bank Routing Number Cross-Border Payments Fincen Payments 98

The Fintech Times

FEBRUARY 24, 2024

But following these events, how regulated are the top CEXs across the globe? In an attempt to find out, VASPnet , a subsidiary of XReg Consulting , a crypto asset public policy and regulatory affairs firm, has launched a new report in partnership with CCData , looking into how regulated the world’s top crypto exchanges are.

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Fincen Financial Crimes Regulations Digital Currency 69

PYMNTS

NOVEMBER 15, 2019

The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth Blanco, said on Friday (Nov. The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth Blanco, said on Friday (Nov. FATF also told both regulators and exchanges that they need to comply with the travel rule. 15) that the U.S.

Travel Rule 55

Travel Rule Rules Fincen Money Laundering 55

PYMNTS

DECEMBER 30, 2020

Several other crypto exchanges, including Coinbase , OKCoin and Digital Asset Platform OSL , have all also recently delisted XRP following the news of the lawsuit, the crux of which depends on whether XRP is a security — and thus regulated by the SEC — or a currency. In other news, bitcoin hit a new high on Wednesday (Dec.

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Bitcoin Fincen PayPal Cryptocurrency 100

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

The Fintech Times

APRIL 8, 2024

BaaS enables non-banking institutions to connect with banks via APIs, to offer services traditionally restricted to licensed and fully-regulated banks. It’s important for companies to interrogate how their provider deals with regulation and compliance issues. How are anti-money laundering regulations adhered to?

FinTech 116

FinTech BSA Regulatory Compliance Money Laundering 116

PYMNTS

DECEMBER 10, 2020

Government regulators and cryptocurrency exchanges are frantically looking for ways to regulate and prevent the laundering of stolen money through cryptocurrencies, with some methods showing more promise than others. The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Cryptocurrency-related crimes totaled $4.3

AML 88

AML Cryptocurrency Money Laundering Compliance 88

Finextra

DECEMBER 4, 2024

The Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and state financial regulators issued a joint statement this (..)

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency FRB NCUA 52

PYMNTS

DECEMBER 17, 2018

The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. The FinCEN said UBSFS didn’t develop and use an appropriate anti-money laundering (AML) system to address the risks in accounts from both traditional brokerage and banking services. FinCEN said UBSFS kept up the lack of regulation for AML from 2004 to 2014.

Fincen 55

Fincen AML Money Laundering BSA 55

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.

Fincen 61

Fincen Acquirers Accounts Process 61

PYMNTS

NOVEMBER 15, 2019

The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth Blanco, said on Friday (Nov. The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth Blanco, said on Friday (Nov. FATF also told both regulators and exchanges that they need to comply with the travel rule. 15) that the U.S.

Rules 50

Rules AML Travel Rule Fincen 50

PYMNTS

MAY 24, 2019

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. FinCEN expects to hold events in the Washington, D.C.

Crime 49

Crime Fincen Innovation Finance 49

PYMNTS

DECEMBER 23, 2020

The road to mainstream acceptance of cryptocurrencies will still have its bumps, its potential roadblocks set in place from regulators. At the heart of it all might lie a jousting existential in nature — namely, between the companies that create and issue cryptos and the agencies that regulate them.

Cryptocurrency 93

Cryptocurrency Fincen Non-Bank Regulations 93

CB Insights

JUNE 27, 2018

See how venture firms, corporates, regulators, and builders are shaping the future of blockchain technology. Other regulatory agencies like the CFTC and FinCEN are approaching the sector in different ways. The SEC wants to regulate most tokens like securities. FinCEN thinks cryptoassets are money, while CFTC sees commodities.

Regulations 39

Regulations Fincen Bitcoin Cryptocurrency 39

PYMNTS

JULY 15, 2019

Libra will register with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) as a money services business, Marcus said in the statement. Monetary policy is properly the province of central banks.”. He added that the cryptocurrency will fully comply with all anti-money laundering and Bank Secrecy Act rules.

Money Laundering 46

Money Laundering Regulations Fincen Cryptocurrency 46

PYMNTS

FEBRUARY 1, 2021

million fine for violating anti-money laundering (AML) regulations, The Wall Street Journal reported on Monday (Feb. Senate passed AML legislation in December of last year that would expand regulations and ban anonymous shell companies. Manhasset, New York-headquartered Apple Bank For Savings will have to pay a $12.5

AML 60

AML FDIC Fincen Money Laundering 60

PYMNTS

MAY 11, 2018

Today (May 11 ) is the day the final rule, served up by the Financial Crimes Enforcement Network (FinCEN), takes effect. The CDD Rule — titled “Customer Due Diligence Requirements for Financial Institutions” — amends the Bank Secrecy Act regulations. banks to mutual fund brokers to commodity brokers.

Rules 40

Rules Fincen Due Diligence Financial Crimes 40

PYMNTS

DECEMBER 14, 2018

Among those agencies, alphabetically speaking: the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the National Credit Union Administration.

Financial Crimes 59

Financial Crimes Crime Fincen Office of the Comptroller of the Currency 59

Fintech News

JULY 17, 2024

These figures underscore the immense challenge facing regulators and law enforcement agencies in their efforts to curb illicit financial flows in the crypto space. This includes harmonising regulations across jurisdictions, sharing intelligence, and conducting joint operations.

Money Laundering 107

Money Laundering Law Enforcement AML Non-Bank 107

Fintech Finance

OCTOBER 11, 2024

TD Bank Group (“TD” or the “Bank”) (TSX: TD) (NYSE: TD) today announced that, following several years of active cooperation and engagement with authorities and regulators, it has reached a resolution of previously disclosed investigations related to its U.S. The Bank and certain of its U.S. “Our U.S.

AML 98

AML BSA Money Laundering Financial Crimes 98

PYMNTS

JANUARY 28, 2021

It’s one of many such warning to come from FinCEN and other financial watchdogs as the digital-first era dawns, awash in promise but hounded by cybercrooks.

Federal Trade Commission 97

Federal Trade Commission Scams Account Takeovers Fincen 97

Payments Source

JULY 15, 2019

David Marcus, who oversees Facebook’s digital wallet, plans to tell Congress that the company will roll out Libra only after it has "received appropriate approvals.”.

Regulations 80

Regulations Fincen Rules AML 80