Articles

FinCEN Issues AML Act “Priorities”

August 25, 2021 - 1 min read

On June 30, 2021, FinCEN issued its list of priorities for anti-money laundering and countering the financing of terrorism (AML/CFT) (the Priorities) as required by the Anti-Money Laundering Act. The Priorities are intended to identify and describe the most significant AML/CFT threats facing the United States. The Priorities – listed, according to FinCEN, “[i]n no…

read article →

NCUA Outlines 2021 Supervisory Priorities

June 14, 2021 - 4 min read

The NCUA remains committed to incorporating efficiencies into its examination and supervision program to address the effects of the COVID-19 pandemic on credit unions and their members. As the economic impact of the COVID-19 pandemic evolves, the NCUA will continue to provide the necessary guidance. Under its Letter to the Credit Unions, 21-CU-02 issued in January 2021,…

read article →

FinCEN Issues Guidance Regarding Due Diligence Requirements for Hemp-Related Customers

September 1, 2020 - 1 min read

On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) issued guidance to address questions related to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements for hemp-related business customers. The guidance explains how financial institutions can conduct due diligence for hemp-related businesses, and identifies the type of information and documentation financial institutions can collect from hemp-related…

read article →

Joint Statement on Risk-Focused BSA/AML Supervision

December 18, 2019 - 1 min read

In July 2019, the OCC, FDIC, Federal Reserve, the NCUA, and FinCEN issued a joint statement to emphasize their risk-focused approach to examinations of banks’ Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance programs. This statement is being issued as part of a broader effort to reinforce and enhance the effectiveness and efficiency of the BSA/AML regime….

read article →

Let us put our five decades of experience to work for you.

Contact Us

CorporateOffices

Toll Free 800.523.4778