FinCEN/BIS joint alert on Russian & Belarusian export control

FinCEN/BIS is urging FIs to be vigilant against efforts to evade BIS export controls implemented in connection with Russia’s invasion of Ukraine. By identifying and reporting suspicious activity indicative of such behavior, FIs contribute to U.S. and international...

FinCEN on BSA due diligence for ATM owners

FinCEN issued a statement to provide clarity to banks on how to apply a RBA to conducting CDD on independent ATM owners or operators. Some independent ATM owners and operators have reported difficulty in obtaining and maintaining access to banking...

FinCEN advisory on Elder Financial Exploitation

FinCEN warns FIs about rising trend of elder financial exploitation (EFE), which involves the illegal or improper use of an older adult’s funds, property, or assets and urges financial institutions to detect, prevent, and report suspicious financial...

FinCEN rulemaking for no-action letter process 

The Report noted several potential benefits of a no-action letter process, including encouraging a robust and productive dialogue with the public, promoting a culture of compliance, and enhancing transparency in the application and enforcement of the Bank Secrecy...