For decades, the legal test for an anti-money laundering program under the Bank Secrecy Act has been, in practice, a test of completeness. Did ...

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

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 ...

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 ...

Fincen's penalty against the bank covers conduct from 2018 through July 2025, both before and after the change. Even after ...

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

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 ...

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 ...

Bank of America's AML fine exposes aging compliance systems across banking. Industry experts break down the counterparty ...

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 ...

A rule overhaul proposed by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is designed to reduce compliance burden and would free up banks from tracking all but the most ...

In their International Criminal Law and Enforcement column, Nicholas M. De Feis and Philip C. Patterson write that although banks may lament the time and money spent on compliance with anti-money ...