By Jeff Dale2024-04-16T16:59:00
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is warning financial institutions of counterfeit U.S. passport cards used to commit fraud and identity theft.
FinCEN, in coordination with the State Department’s Diplomatic Security Service, issued a notice Monday highlighting red flags to identify and report suspicious activity and remind financial institutions of their reporting obligations under the Bank Secrecy Act (BSA).
Andrea Gacki, the director of FinCEN, noted in a press release a “concerning increase” in the use of U.S. passport cards by illicit actors to impersonate and defraud individuals at financial institutions.
2024-03-26T15:48:00Z By Kyle Brasseur
The United States’s progress on implementing the beneficial ownership information reporting requirements contained within the Corporate Transparency Act earned it praise from the intergovernmental Financial Action Task Force.
2024-02-02T18:27:00Z By Jeff Dale
The Financial Crimes Enforcement Network issued an alert addressing the financing of Israeli extremist settler violence against Palestinians in the West Bank.
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A survey of financial crime professionals found that while three of every four companies added more anti-money laundering employees in 2023, nearly all respondents said growing their department’s headcount alone won’t keep up with emerging risks.
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More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
2025-08-06T14:00:00Z By Aaron Nicodemus
The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
2025-06-26T15:37:00Z By Aaron Nicodemus
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
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