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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-10-04T16:30:00
The new director at the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) said the agency is working to issue a notice of proposed rulemaking regarding the establishment of an anti-money laundering (AML) and sanctions whistleblower program.
Andrea Gacki, in virtual remarks delivered at an industry event Tuesday, said the program will allow FinCEN to pay out awards to individuals who voluntarily come forward with information on violations of the Bank Secrecy Act (BSA) or U.S. sanctions when that information leads to an enforcement action.
“While we work on the rulemaking necessary to fully implement this program, FinCEN is already receiving tips, investigating information received through those tips, and making referrals to its enforcement colleagues at [the Office of Foreign Assets Control] and the Department of Justice,” said Gack
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2024-02-27T19:01:00Z By Aaron Nicodemus
Andrea Gacki, head of the Financial Crimes Enforcement Network, said recent enforcement actions by the agency have addressed significant gaps in the U.S. anti-money laundering/countering the financing of terrorism regime and exposed specific risk factors, trends, and typologies.
2023-12-21T20:09:00Z By Aaron Nicodemus
The Financial Crimes Enforcement Network made several changes suggested by commenters to a new rule allowing limited access to its beneficial ownership information registry.
2023-11-30T16:39:00Z By Kyle Brasseur
The Financial Crimes Enforcement Network finalized a rule to extend the deadline for companies created or registered in 2024 to file their initial beneficial ownership information reports.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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