The U.S. Treasury Department's financial intelligence unit fined a now-defunct New Jersey money transmitter $125,000 for repeatedly and willfully violating Bank Secrecy Act requirements.
A decision by the U.S. Treasury to reshape the nation's financial intelligence unit has spurred serious concerns about the direction of the agency.
Mexican officials will extend until February an upcoming deadline for nonbank companies to implement anti-money laundering controls, according to sources with knowledge of the matter.
Lawmakers should expand financial safe harbor protections to allow banks to better share their suspicions about money laundering and its predicate crimes, a top U.S. regulatory official said Sunday.
The U.S. Treasury Department's financial intelligence unit is hiring three top-ranking officials as part of a restructuring announced in June.
As a deadline for the implementation of electronic Bank Secrecy Act reporting approached earlier this month, hundreds of financial institutions questioned whether they had too little time to comply with the requirements.
U.S. law enforcement officials and regulators have queried the nation's financial intelligence unit about securities settlements that use the world's top financial messaging platform, according to the agency's director.
Mandatory budget cuts scheduled to take effect in eight days would hinder the U.S. Treasury Department's efforts to crack down on money laundering and terrorist financing, say top federal officials.
The New York County District Attorney's Office is creating a financial intelligence unit in an effort to expand its use of Bank Secrecy Act reports, the agency's highest official said Monday.
The U.S. Treasury Department and Federal Reserve Board disclosed long-awaited enforcement actions against JPMorgan Chase for Bank Secrecy Act failures Monday - the same day the regulators punished the company for trading violations.
The Manhattan District Attorney's Office has opened dozens of financial crime investigations since the 2010 formation an internal team that reviews suspicious activity reports, a New York official said Monday.
It's a message that has been hammered home repeatedly by the U.S. Treasury Department: the confidentiality of data included in suspicious activity reports is sacrosanct.
Divergences in international lists of predicate offenses to money laundering have hampered the fight against financial criminals, according to a report by the Australian government.
The chief self-regulatory organization examining broker-dealers for anti-money laundering compliance is again allowed to have direct access to suspicious activity reports, the U.S. Securities and Exchange Commission confirmed Thursday.
Hundreds of banks and credit unions are likely to miss a June deadline to comply with federal rules mandating that they file all anti-money laundering regulatory reports electronically.
Planned budget cuts that would limit cooperation between regional investigators and the U.S. Treasury Department's financial intelligence unit would be nixed under the latest congressional appropriations bill.
A Miami bank already on the hook with federal regulators for a lax compliance program was fined $7 million Thursday for failing to address multiple Bank Secrecy Act violations.
The proposed $91.3 million budget, a fraction of the total Treasury Department budget released Monday, includes $82.2 million for BSA administration and analysis and $9.2 million for regulatory support programs, including coordinating with the Internal Revenue Services to ensure BSA compliance.
The agency is seeking feedback from financial institutions on the usefulness of SAR Activity Review-Trends, Tips & Issues and SAR Activity Review- By the Numbers, both published twice a year.
Financial institutions that fail to establish a "reasonably designed" Bank Secrecy Act compliance program or correct problems in their existing programs are subject to cease and desist orders, according to guidance issued jointly by five federal regulatory agencies.