New FinCEN guidance encourages information sharing among banks
By 
Aaron Nicodemus2020-12-11T17:52:00
FinCEN Director Kenneth Blanco announced updated guidance to encourage more financial institutions to share information among their peers regarding suspicious transactions.
Related articles
-
ArticleTreasury under Yellen to prioritize climate change, sanctions, AML reform
Janet Yellen takes over as leader of a Treasury Department with a lot on its plate, including studying the effects of climate change on the economy, unwinding Trump administration sanctions, revamping the Bank Secrecy Act, and more.
-
ArticleAnalysis: Improving SARs effectiveness takes more than act of Congress
In the wake of 2020’s FinCEN Files leaks, the U.S. Treasury this year will undertake a thorough reevaluation of the country’s AML program under the Bank Secrecy Act.
-
ArticleFinCEN seeking comment on AML program overhaul
The Financial Crimes Enforcement Network has proposed a plan to issue AML guidance every two years to encourage financial institutions to align their Bank Secrecy Act compliance programs with the agency’s enforcement priorities.
More from Regulatory Policy
-
PremiumU.K. FCA establishes framework for unlisted companies to trade shares on a ‘buyer-beware’ basis
Private companies that are keen to trade their shares but do not wish to become listed have gained another way to trade their shares. The U.K. government completed its initial review and published rules for the system in June.
-
ArticleDOJ is ramping up, not ramping down, health care fraud enforcement
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
-
ArticleU.K. enforcement appetite over off-channel comms grows as U.S. wanes
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.