The Financial Crimes Enforcement Network ("FinCEN") is issuing this interpretative guidance to clarify how our rules implementing section 312 of the USA PATRIOT Act (the correspondent account rule) apply to a covered financial institution presenting a negotiable instrument for payment to another financial institution.
The Financial Crimes Enforcement Network (FinCEN) announced the assessment of a civil money penalty in the amount of $12 million against Sigue Corporation and Sigue, LLC, a money services business headquartered in San Fernando, California, for violations of the Bank Secrecy Act (BSA).
The Financial Crimes Enforcement Network ("FinCEN") is issuing this administrative ruling to clarify the currency transaction report ("CTR") filing obligations when reporting transactions involving sole proprietorships. Subsequent to a prior ruling on this issue, FinCEN received feedback from financial institutions...
A judge in Newark, New Jersey formally unsealed a 35-count Indictment today charging 13 individuals in a scheme to fraudulently obtain more than $20 million in home equity and business lines of credit between February 2004 and November 2005.
January 24, 2008
FDIC Office of Inspector General Reports
The following items were recently posted to the Federal Deposit Insurance Corporation's (FDIC) Office of Inspector General (OIG) Web site: www.fdicig.gov under Publications. In cases where an OIG report includes sensitive or confidential information, the OIG...
Pandemic Flu Exercise Prompts Enhanced Industry Preparations
January 24, 2008
HP-769
US Financial Sector Pandemic Flu Exercise
Prompts Enhanced Industry Preparations
"The results of this report demonstrate the clear need for conducting this exercise," said Treasury Deputy Assistant Secretary Valerie Abend....
Financial Institution Letters
FIL-2-2008
January 14, 2008
Processing Deposit Accounts in a Bank Failure;
Modernizing Large-bank Insurance Determinations
Notice of Proposed Rulemaking
The Federal Deposit Insurance Corporation (FDIC) has issued the attached two-part Notice of Proposed Rulemaking relating to...
Ruling
FIN-2007-R002
Issued: November 15, 2007
Subject: Whether a Business that Cashes Checks Payable to Customers to Apply Proceeds to the Repayment of Customers’ Obligations is a Money Services Business
Dear [ ]:
This letter responds to your request for an administrative ruling, dated June 16, 2007,...
MSB Registration List
The MSB Registration List, which is updated and posted on a monthly basis, contains entities that have registered as Money Services Businesses (MSBs) pursuant to the Financial Crimes Enforcement Network’s (FinCEN’s) Bank Secrecy Act regulations at 31 CFR 103.41....
John Hardage Named Director for Congressional Liaison
WASHINGTON — The Office of the Comptroller of the Currency announced today that John K. Hardage has been named Director for Congressional Liaison. Mr. Hardage, who joined the OCC in 1997, had been Deputy Director for Congressional Liaison....
The Federal Deposit Insurance Corporation has appointed Luke Brown as the Associate Director for Compliance Policy in the Division of Supervision and Consumer Protection.
Financial Institution Letters
Bank Secrecy Act
Spanish Translation of the 2007 Bank Secrecy Act/Anti-Money Laundering Examination Manual FIL-117-2007
December 28, 2007
Summary: The FDIC has had the Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act/Anti-Money Laundering (BSA/AML)...
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.eu, you agree to our use of cookies.