News

The U.S. Treasury Department's Financial Crimes Enforcement Network solicited input from financial institutions and other public and private stakeholders Tuesday on the most effective approaches to streamlining and upgrading U.S. rules against illicit finance. In an 18-page request for information, FinCEN put forward more than two-dozen questions on emerging threats to the integrity of the American financial system, whether existing controls can mitigate them or are redundant, obsolete or otherwise in need of reform, and how new technologies may help sustain future upgrades. The bureau published the request pursuant to the Anti-Money Laundering Act, legislation enacted Jan. 1 that tasks...