Correspondent Banking

FinCEN announces a targeted, data-driven operation on 100+ U.S. MSBs along the southwest border, to tackle potential ML and enforce stricter AML compliance

by AdrianaAMLP | Dec 22, 2025

The multi-tiered, data-driven operation using advanced analytics of over one million banking records to identify compliance failures among Southwest border MSBs and address risks of illicit finance. It has already issued investigation notices, IRS examination...

FinCEN identifies 10 Mexico-based casinos as primary ML concerns for funneling funds to the Sinaloa Cartel and proposes U.S. banking restrictions to sever the cartel’s access to the financial system

by AdrianaAMLP | Nov 13, 2025

FinCEN issues a finding and proposes a rule under Section 311 of the USA PATRIOT Act that prohibits covered U.S. financial institutions from opening or maintaining correspondent accounts for foreign banks involved in transactions with the ten identified Mexico-based...

FinCEN issues final rule blocking Cambodia-based Huione Group from the U.S. financial system for facilitating North Korean cyberheist proceeds and Southeast Asian virtual currency scams

by AdrianaAMLP | Oct 14, 2025

The action reflects FinCEN’s determination that Huione Group lacks adequate anti-money laundering controls and has facilitated illicit financial activity linked to cybercrime and North Korean networks. By imposing a Section 311 special measure, the action enhances...

FATF launches 2nd Consultation on R.16 to strengthen Payment Transparency to ensure technology-neutral standards and improve cross-border transaction efficiency

by AdrianaAMLP | Feb 24, 2025

These updates aim to maintain technology neutrality and uphold the principle of “same activity, same risk, same rules” while enhancing the speed, cost-efficiency, transparency, and security of cross-border payments, in line with the G20 Priority Action Plan…...

FinCEN withdraws its findings and notice of proposed rulemaking regarding ABLV Bank, AS

by AdrianaAMLP | Sep 26, 2024

On February 16, 2018, FinCEN issued an NPRM that set forth FinCEN’s findings of money laundering concern regarding ABLV, a commercial bank located in Riga, Latvia, and proposed imposing special measure five under section 311, prohibiting covered financial institutions...

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FinCEN announces a targeted, data-driven operation on 100+ U.S. MSBs along the southwest border, to tackle potential ML and enforce stricter AML compliance

FinCEN identifies 10 Mexico-based casinos as primary ML concerns for funneling funds to the Sinaloa Cartel and proposes U.S. banking restrictions to sever the cartel’s access to the financial system

FinCEN issues final rule blocking Cambodia-based Huione Group from the U.S. financial system for facilitating North Korean cyberheist proceeds and Southeast Asian virtual currency scams

FATF launches 2nd Consultation on R.16 to strengthen Payment Transparency to ensure technology-neutral standards and improve cross-border transaction efficiency

FinCEN withdraws its findings and notice of proposed rulemaking regarding ABLV Bank, AS

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