As of Dec. 1, one month before the Jan. 1 deadline, about 30% of small businesses reported beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). About 9.5 million reports were filed at that point and 1 million new reports were being filed each...
Financial institutions play an important role in combating elder financial exploitation and in supporting the victims of these crimes, federal and state agencies said Wednesday (Nov. 4). In a joint statement, five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN) and state financial...
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) said it aims to expand public-private partnerships by joining The National Task Force on Fraud and Scam Prevention. Convened by the Aspen Institute Financial Security Program, the national task force brings together stakeholders from...
TD Bank reportedly is working to select compliance monitors to track its progress on risk and controls and report to regulators, as ordered by the U.S. government in October. As the bank works on this process, U.S. CEO Leo Salom told staff this month during a town...
April 23, 2024
To the hammer of a bad actor, everything vulnerable looks like a nail. And with the rise of sophisticated fraud techniques, organizations like financial institutions that are operating within security-critical sectors are increasingly faced with the daunting task of safeguarding against a shifting mix of fraudulent attack strategies from adversaries and criminals — both online […]
January 30, 2023
The U.S. Treasury Department is flexing its cryptocurrency enforcement muscles as industry attention grows. The turbulent crypto sector has historically suffered from the perception that its anonymous and decentralized technical...
May 06, 2022
For a few weeks in April, experts in digital identity from banks, vendors, FinTech, law firms and regulators worked in the Digital Identity Tech Spring to develop ideas about how to...
April 28, 2022
A few weeks ago, the Federal Deposit Insurance Corporation (FDIC) and the Financial Crimes Enforcement Network (FinCEN) organized a Tech Sprint, inviting experts from the private and public sector to...
December 11, 2024
The Financial Crimes Enforcement Network (FinCEN) has issued Spanish translations of two resources focused on mail theft-related check fraud. The resources include FinCEN’s February 2023 alert to financial institutions highlighting a surge in check fraud schemes targeting the U.S. mail, and its September 2024 Financial Trend Analysis on mail theft-related check fraud incidents, the agency […]
December 09, 2024
As of Dec. 1, one month before the Jan. 1 deadline, about 30% of small businesses reported beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). About 9.5 million...
December 04, 2024
Financial institutions play an important role in combating elder financial exploitation and in supporting the victims of these crimes, federal and state agencies said Wednesday (Nov. 4). In a joint...
November 25, 2024
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) said it aims to expand public-private partnerships by joining The National Task Force on Fraud and Scam Prevention. Convened...
