FinCEN head issues reminder on Russia-related alerts, warns of lack of funds for new AML legislation
The head of the US treasury department’s Financial Crimes Enforcement Network (FinCEN) has issued a reminder in a congressional committee of two alerts related to recent sanctions imposed on Russia that provide financial institutions with information about red flags and typologies that include several trade-based…
Comments sought on new US AML Act, significant implications for financial institution
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has published an Advance Notice of Proposed Rulemaking (ANPR) seeking comments on the new Anti-Money Laundering Act of 2020 (AML Act) which includes the Corporate Transparency Act (CTA). Reforms in the act present significant implications for…
