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The ruling further complicates an already complicated area — the law's mandate around beneficial ownership information reporting.
March 5 -
The Financial Crimes Enforcement Network Tuesday proposed a rule to include investment advisors in the compliance regime under the Bank Secrecy Act, aiming to close regulatory gaps exploited by criminals.
February 13 -
The Financial Crimes Enforcement Network issued an alert Thursday on avoiding business relationships with sanctioned Israeli settler groups in the West Bank, an effort that comes as the White House is pushing sanctions on foreign actors involved in destabilizing the region.
February 2 -
The Treasury Department's Financial Crimes Enforcement Network fined a New York credit union employee $100,000 Wednesday in connection with a scheme to launder $1 billion using armored trucks and the credit union's Fed master account.
February 1 -
Treasury Secretary Janet Yellen said Monday the agency's Financial Crimes Enforcement Network has received over 100,000 entries for its beneficial ownership information registry, and will set additional regulations to address money-laundering risks in real estate transactions early this year.
January 8 -
The Treasury's Financial Crimes Enforcement Network launched its new database identifying U.S. business owners pursuant to the 2021 Corporate Transparency Act Monday, giving existing companies one year to file reports on their true owners and new companies 90 days after their creation to comply.
January 2 -
The Financial Crimes Enforcement Network issued a final rule on beneficial ownership information ahead of a deadline to start reporting this data on January 1, 2024, with revisions to address concerns from lawmakers and banking advocates.
December 21 -
Both parties agree the registry's rules need to be more targeted, while Democrats decried a Republican push to cut the agency's funding.
July 18 -
Led by House Financial Services Committee Chair Patrick McHenry, R-N.C., Republican lawmakers asked the Financial Crimes Enforcement Network to develop a plan to make sure small businesses can come into compliance with its new beneficial ownership rule.
June 8 -
The only way for Fincen to assure that banks have the tools to identify illicit shell companies is for the agency to verify the information in its new beneficial ownership database.
March 1Bank Policy Institute