A $1.2 billion penalty against Bank of America, proposed federal stablecoin regulations and changes to beneficial ownership requirements are ...

Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that it has assessed a $1.2 billion penalty against Bank of America, N.A. (Bank of America) for its ...

Bank of America will pay more than $1.2 billion for anti-money laundering and sanctions violations that allowed billions in ...

On April 7, FinCEN announced a proposed rule that it described as a “fundamental reform” of AML/CFT program requirements applicable to banks and other financial institutions. The proposal was ...

Laurel Loomis Rimon examines the new rules recently issued by the Financial Crimes Enforcement Network aimed at countering money laundering and the financing of terrorism, which were made public on ...

Three federal agencies have imposed penalties totaling more than $1.21 billion on Bank of America, alleging that the bank ...

Bank of America will pay more than $1.21 billion in penalties for breaking federal anti-money laundering and sanctions laws, ...

FinCEN has proposed reforming AML/CFT programs to reduce compliance burdens and focus on effectiveness rather than paperwork. The rule would give institutions more flexibility in risk-based design and ...

As regulators rewrite the rules for anti-money-laundering compliance, they have an opportunity to create standards that will ...

The Treasury Department's Financial Crimes Enforcement Network on Monday assessed a $125 million civil money penalty against UBS Financial Services — the largest Bank Secrecy Act fine ever imposed on ...

Fincen just proposed the most significant reform to AML compliance in a generation, but its reporting forms are still broken, writes Jane Bell, of SAS. Of the approximately 167 million currency ...