On 10/10/24, FinCEN assessed a record $1.3 billion penalty against TD Bank for BSA violations. This unprecedented penalty should function as a cautionary message and a warning to all financial ...

On Aug. 28, 2024, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (the Final Rule) extending the scope of the Bank Secrecy Act (BSA) and its ...

The Trump Administration has prioritized deregulation, aiming to reduce compliance costs under the Bank Secrecy Act (BSA).

In a coordinated enforcement action by 48 state financial regulators, Block will pay an $80M fine and undertake corrective action for violations of the Bank Secrecy Act and anti-money laundering laws ...

Law enforcement officials stumbled on TD Bank’s role in money laundering while investigating a Mexican drug cartel. They found that the bank’s corporate culture considered compliance, particularly ...

A total payment of approximately US$3.09 billion, largely covered by previous provisions of US$3.05 billion. Requirements to remediate the Bank’s U.S. AML program, broadly aligned to its existing ...

The DOJ and FinCEN reached resolutions with Paxful, a US-based virtual currency trading platform, over Bank Secrecy Act and AML ...

Gary Schemel II has been promoted to the position of assistant vice president. In his role, Schemel is responsible for the oversight of the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and the ...

The Office of the Comptroller of the Currency has issued a cease-and-desist order against Bank of America (BAC) for deficiencies related to its Bank Secrecy Act and sanctions compliance programs. The ...