Tag: financial_institutions
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FinCEN Alerts Financial Institutions to Cartel Fuel Smuggling and Tax Evasion Schemes
FinCEN issued a supplemental Alert advising financial institutions to detect and report suspicious activity related to Mexico-based cartels, including CJNG, involved in fuel smuggling from the U.S. into Mexico and associated tax evasion schemes, known as fiscal fuel theft.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyLegalLatin America FinCENCartel de Jalisco Nueva GeneracionCJNGfuel smugglingtax evasionMexicofinancial institutionsFinancial Crimes Enforcement Network
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Orange County Man Arrested in Alleged $100 Million Bank Fraud Scheme
A Corona del Mar man faces federal bank fraud charges for allegedly defrauding a bank of nearly $100 million. He is accused of manipulating title policies to inflate collateral value, leading to his arrest.
BusinessLaw EnforcementPolitics and GovernmentBankingEconomyLegalFederal GovernmentFinancial Markets Mahender MakhijaniBank FraudOrange CountyTitle Insurance FraudIRS Criminal InvestigationFederal Deposit Insurance CorporationFinancial InstitutionsFBI
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FinCEN Issues New Guidance to Boost Fraud Information Sharing Among Financial Institutions
FinCEN has issued new guidance clarifying how financial institutions can share information on suspected fraud under the USA PATRIOT Act's section 314(b). This aims to enhance collaboration and help eliminate fraudulent activities.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentLegalBankingEconomy Financial Crimes Enforcement NetworkFinCENFinancial InstitutionsFraudInformation SharingUSA PATRIOT ActSection 314(b)
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FinCEN Boosts Fraud Fight with New Information Sharing Guidance
FinCEN has updated guidance for financial institutions to share fraud information under the USA PATRIOT Act's 314(b) program. This aims to combat billions in annual fraud losses, empowering institutions to quickly identify and stop illicit financial activity.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyLegalWhite HouseFinancial Markets FinCENFraudFinancial InstitutionsInformation SharingUSA PATRIOT ActUS TreasuryScott Bessent
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FinCEN Warns Financial Institutions of Human Trafficking Threat During FIFA World Cup 2026
FinCEN urges financial institutions to heighten vigilance against human trafficking during the FIFA World Cup 2026. The advisory highlights financial red flags and reporting procedures to combat exploitation by criminal organizations during the major event.
Politics and GovernmentBusinessLaw EnforcementSportFederal GovernmentEconomyLegalSocial IssuesEducationWhite House Human TraffickingFinancial Crimes Enforcement NetworkFIFA World Cup 2026Financial InstitutionsSuspicious Activity ReportsTransnational Criminal OrganizationsAnti-Money Laundering
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FinCEN Urges Financial Institutions to Combat Illicit Finance from Unlawful Employment
FinCEN issued an advisory today, calling on financial institutions to increase vigilance against financial risks associated with the unlawful employment of illegal aliens, aiming to protect the integrity of the U.S. financial system.
BusinessPolitics and GovernmentLaw EnforcementBankingEmployment and LaborFederal GovernmentSocial IssuesLegal FinCENFinancial Crimes Enforcement NetworkFinancial institutionsUnlawful employmentIllegal aliensIllicit activityU.S. financial system
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FinCEN Urges Financial Institutions to Combat Illicit Activity by Illegal Aliens
FinCEN issued an advisory urging financial institutions to detect and report illicit activity related to the unlawful employment of illegal aliens, aiming to secure the U.S. financial system and prevent financial exploitation.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentBankingEmployment and LaborLegal FinCENFinancial InstitutionsIllegal AliensIllicit ActivityPayroll FraudIdentity TheftTreasury DepartmentUS Treasury
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OCC Appoints Benjamin Eddy as Senior Deputy Comptroller
Benjamin Eddy has been named Senior Deputy Comptroller for Regional and Midsize Financial Institutions at the OCC, effective June 1. He will oversee supervision of banks with assets between $30 billion and $500 billion, bringing extensive regulatory and private sector…
Politics and GovernmentBusinessFederal GovernmentBankingEmployment and LaborEconomy Benjamin EddyOCCFinancial InstitutionsBank SupervisionJonathan V. GouldRegulatory AppointmentWashington D.C.Office of the Comptroller of the Currency (OCC)
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Federal Reserve Proposes New Payment Account for Financial Institutions
The Federal Reserve Board seeks public comment on a proposal for a new "payment account." This account would allow eligible financial institutions to clear and settle payments, aiming to boost financial system efficiency.
BusinessPolitics and GovernmentEconomyBankingFederal Government Federal Reserve BoardPayment accountFinancial institutionsPublic commentClearing and settlingPaymentsFinancial systemU.S. Federal Reserve
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FinCEN Warns Financial Institutions of Human Trafficking Threat During 2026 FIFA World Cup
FinCEN warns financial institutions to be vigilant against human trafficking during the 2026 FIFA World Cup. The major event is expected to draw millions, increasing vulnerability to exploitation, and institutions must detect and report suspicious activity.
FinCENHuman Trafficking2026 FIFA World CupFinancial InstitutionsCrimeSports