Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that it has assessed a $1.2 billion penalty against Bank of America, N.A. (Bank of America) for its ...

On April 7, FinCEN announced a proposed rule that it described as a “fundamental reform” of AML/CFT program requirements applicable to banks and other financial institutions. The proposal was ...

On April 7, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM) that would significantly revise Bank Secrecy Act (BSA) ...

As regulators rewrite the rules for anti-money-laundering compliance, they have an opportunity to create standards that will ...

Bank of America will pay more than $1.21 billion in penalties for breaking federal anti-money laundering and sanctions laws, ...

FinCEN has proposed reforming AML/CFT programs to reduce compliance burdens and focus on effectiveness rather than paperwork. The rule would give institutions more flexibility in risk-based design and ...

Bank of America has been fined a total of $1.2 billion by the Office of the Comptroller of the Currency (OCC) and the ...

Laurel Loomis Rimon examines the new rules recently issued by the Financial Crimes Enforcement Network aimed at countering money laundering and the financing of terrorism, which were made public on ...

The U.S. Department of the Treasury imposed more than $1.21 billion in penalties on Bank of America, the country’s ...

The Treasury Department's Financial Crimes Enforcement Network on Monday assessed a $125 million civil money penalty against UBS Financial Services — the largest Bank Secrecy Act fine ever imposed on ...

A rule overhaul proposed by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is designed to reduce compliance burden and would free up banks from tracking all but the most ...