FinCEN

Fincen just proposed the most significant reform to AML compliance in a generation, but its reporting forms are still broken. A handful of key changes would meaningfully reduce compliance burden without reducing investigative value.

The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers. 

The Treasury's financial crimes enforcement wing proposed a rule Monday that would incentivize whistleblowers to come forth with information that could assist in cracking down on scams, fraud or money laundering, at a time of heightened geopolitical risk.

The Financial Crimes Enforcement Network is charged with protecting the U.S. financial system, but its failure to implement a whistleblower program authorized in 2022 leaves the agency unable to capitalize on a key source of intelligence.

As geopolitical threats loom, the U.S. needs a better-coordinated AML strategy. The Treasury Department's Financial Crimes Enforcement Network should take the lead in implementing needed reforms.

Financial fraud in the U.S. has become so sophisticated that it now has its own internal economy, complete with supply chains and customer service. Banks need to wake up to the reality that the landscape has changed.

As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against financial crime.

While overall payments declined, the financial sector remained the top payer to cybercriminals, surpassing both health care and manufacturing.

Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.

The Treasury Department's Financial Crimes Enforcement Network is seeking public comment on a survey of anti-money-laundering compliance costs from a variety of nonbanks, including casinos, insurers, lenders and other nonbanks, a possible precursor to deregulatory proposals down the road.

The Treasury Department proposed a rule delaying investment adviser AML requirements to 2028 and sought public comment on implementing regulations for a stablecoin bill passed earlier this summer.

Predators often target boys ages 14 to 17, demanding money or using deepfakes to extort them.

Art collectors — and criminals — can anonymously spend millions on art in the U.S. A newly introduced bill could change that.

The Treasury's financial crime agency delayed enforcement of a variety of Bank Secrecy Act requirements for investment advisors in order to gain time to revise and tailor regulations.

The interim final rule removes the requirement under the Corporate Transparency Act for U.S. companies and people to report beneficial ownership information.

Both consumers and banks reported that the rate of fraud and scams has steadied, according to Fincen and FTC data, but the total cost continued rising.

A new order requires certain non-bank financial companies in certain ZIP codes to report transactions over $200, much lower than the previous $10,000 threshold.

A federal district court in Texas has stayed an injunction that had prevented enforcement of the Corporate Transparency Act and its reporting requirement.

The Treasury Department extended deadlines for businesses to file beneficial ownership information after a court lifted a nationwide injunction on the reporting requirements.