Current Topics:

Interagency Statement on Sharing Bank Secrecy Act Resources

Several agencies, including the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) published a statement to address instances in which banks may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively.

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Financial crime compliance: FFIEC launches new, redesigned BSA/AML InfoBase site to boost user engagement, access to critical procedures

The Federal Financial Institutions Examination Council (FFIEC)  launched a redesigned Bank Secrecy Act/Anti-Money Laundering (BSA/AML) website.

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Finra’s Amended CAB Rule, which inculcates FinCEN’s new beneficial ownership duties will be implemented on November 19, 2018

The rule was updated to reflect the Treasury Department’s Financial Crimes Enforcement Network’s adoption of a final rule on customer due diligence requirements for financial institutions.

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US Treasury employee arrested, accused of leaking media secret information about suspicious financial transactions related to Paul Manafort, Russians

According to the Financial Crimes Enforcement Network (FinCEN), a U.S. Treasury employee has been arrested on charges that she leaked to multiple reports about suspicious financial transactions involving ex-Trump campaign chief Paul Manafort.

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EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive.

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FinCEN highlights value of AML filings in cracking fraud cases, increasing focus on crypto

The U.S. Treasury is more aggressively mining the wealth of data buried in financial crime compliance filings to better crush a range of crimes, including large scale fraud cases, cyber hackers monetizing their hauls through virtual currency exchanges and cross-referencing these trends against crypto’s foundational blockchain.

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Conferences & Events:

November 13-16, 2018, IMTC World X-Border Transfers and Payments Conference, Miami, Florida

Connie Fenchel will co-host a one-day intensive and highly practical Money Transmitter Compliance Certification Course.

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April 15-17, 2019, ACAMS 24th Annual International AML & Financial Crime Conference

Save the date- ACAMS 24th Annual International AML & Financial Crime Conference

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November 15, 2018, ACFCS Half Day Seminar-  CDD and KYC in a Risky World

Join ACFCS and experts from financial services and the public sector to dive into timely issues regarding customer due diligence.

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