Tag: fincen
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OCC Highlights FinCEN Guidance on Fraud Information Sharing
The OCC highlights FinCEN's updated guidance on Section 314(b), clarifying how financial institutions can share information about suspected fraud, money laundering, and terrorist financing under a safe harbor, encouraging participation to combat illicit activities.
BusinessPolitics and GovernmentLaw EnforcementBankingFederal GovernmentLegalEconomy OCCFinCENSection 314(b)FraudInformation SharingFinancial InstitutionsUSA PATRIOT ActOffice of the Comptroller of the Currency (OCC)
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Treasury Sanctions Facilitators of CJNG Fuel Smuggling and Tax Evasion Schemes
The U.S. Treasury has sanctioned two Mexican nationals and nine entities linked to CJNG's cross-border fuel smuggling and tax evasion. This action, supported by a FinCEN alert, targets a major revenue stream for the violent cartel.
Politics and GovernmentBusinessLaw EnforcementConflictFederal GovernmentEconomyLegalTradeSocial IssuesLatin America Cartel de Jalisco Nueva GeneracionFuel SmugglingTax EvasionU.S. Department of the TreasuryOFACFinCENMexicoUS Treasury
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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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FinCEN Moves to Block H-Pay Service PLC, Successors from U.S. Financial System
FinCEN proposes to sever Cambodia-based H-Pay Service PLC and its successors from the U.S. financial system. This move targets Huione Group's attempts to launder proceeds from cyber heists and virtual currency scams, preventing circumvention of existing rules.
Politics and GovernmentBusinessLaw EnforcementCambodiaFederal GovernmentEconomyLegalFinancial MarketsComputers and Internet FinCENHuione GroupH-Pay Service PLCMoney LaunderingCybercrimeVirtual Currency ScamsFinancial Crimes Enforcement Network
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FinCEN Honors Law Enforcement for Combating Financial Crime with BSA Data
FinCEN honored seven law enforcement cases for using Bank Secrecy Act data, leading to 96 convictions, $1.1 billion seized, and $347 million in restitution. Cases included major fraud, human trafficking, and money laundering, highlighting public-private collaboration.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyBankingLegalSocial Issues FinCENFinancial CrimeBank Secrecy ActMoney LaunderingHuman TraffickingTD BankFinancial Crimes Enforcement Network
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FinCEN Proposes Rule for Stablecoin Customer Identification Programs
FinCEN and other agencies have proposed a new rule under the GENIUS Act. It mandates customer identification programs for stablecoin issuers, treating them as financial institutions to combat illicit finance and protect U.S. financial security.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyBankingLegalFinancial Markets FinCENGENIUS ActStablecoinsCustomer Identification ProgramFinancial RegulationBank Secrecy ActU.S. Department of the TreasuryFinancial Crimes Enforcement Network
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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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Treasury Secretary Bessent Urges Community Banks to Bolster Financial Security Against Illicit Activity
Treasury Secretary Scott Bessent called on community banks to be the first line of defense against financial crime, highlighting new guidance and an Executive Order to combat fraud and illicit activity, particularly in areas like Houston.
BusinessPolitics and GovernmentLaw EnforcementEconomyFederal GovernmentEmployment and LaborWhite House US TreasuryCommunity BanksFinancial SecurityFraudExecutive OrderFinCENTexas
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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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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
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US and Canada Tackle Money Laundering at FINTRAC-FinCEN Symposium
The US and Canada convened the Second Annual FINTRAC–FinCEN Anti-Money Laundering and Anti-Terrorist Financing Symposium in Washington, D.C., addressing international security threats.
Politics and GovernmentBusinessWorldCanadaFederal GovernmentLaw EnforcementFinancial MarketsTrade FINTRACFinCENAnti-Money LaunderingAnti-Terrorist FinancingWashington D.C.ChinaFentanyl
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FinCEN Alert: Cartels Smuggling Oil Across U.S.-Mexico Border
FinCEN issues alert to financial institutions about cartels smuggling stolen crude oil from Mexico into the U.S., impacting legitimate businesses and fueling violence.
Politics and GovernmentBusinessWorldLaw EnforcementMexicoFederal GovernmentTradeEnergyLegal FinCENOFACJalisco New Generation CartelSinaloa CartelGulf Carteloil smuggling
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FinCEN Targets Southwest Border Money Laundering
FinCEN issues a Geographic Targeting Order for money services businesses in California and Texas to combat money laundering by Mexico-based cartels.
Politics and GovernmentBusinessWorldMexicoFederal GovernmentLaw EnforcementFinancial MarketsLegal FinCENGeographic Targeting Ordermoney launderingMexico-based cartelssouthwest borderCurrency Transaction ReportsScott Bessent