Tag: FinCEN

As financial crime becomes increasingly global and complex, a growing number of jurisdictions are exploring the centralisation of anti-money laundering (AML) and counter-terrorism financing...

Human trafficking and money laundering are interlinked crimes that thrive on the exploitation of vulnerable populations and the abuse of global financial systems. With...

Smaller financial institutions are increasingly under pressure to meet the same anti-money laundering (AML) compliance standards as their larger counterparts—yet face considerable structural disadvantages...

In the world of anti-money laundering (AML), outdated practices are exposing institutions to risk. Many banks still process alerts in the order they were...

Banks in the United States will have more flexibility in how they collect Taxpayer Identification Numbers (TINs) from customers following the introduction of new Customer Identification Program (CIP) regulations by FinCEN, the OCC, and the FDIC.

AML compliance teams are facing growing challenges in how they handle backlogs of alerts. Traditionally, banks and financial institutions have approached these backlogs by...

In the US, KYB is not just a regulatory requirement but a fundamental practice critical for maintaining the integrity of financial operations and fostering trust within the business ecosystem.

As artificial intelligence (AI) continues to transform financial crime compliance, a new industry benchmark is emerging: compliance-first AI.

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.

In a stride towards combating financial crimes, the US introduced the CTA, designed to peel back the layers of secrecy often associated with business...