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FFIEC releases revised BSAAML Examination Manual
  • Katten Muchin Rosenman LLP
  • USA
  • December 5 2014

On November 26, the Federal Financial Institutions Examination Council (FFIEC) released the revised Bank Secrecy ActAnti-Money Laundering (BSAAML


FinCEN issues advisory on jurisdictions with AMLCFT deficiencies
  • Katten Muchin Rosenman LLP
  • USA
  • December 6 2013

The Financial Crimes Enforcement Network (FinCEN) on December 4 issued an advisory to financial institutions based on the Financial Action Task


OCC switches consideration of BSAAML findings for banks and foreign banking organizations
  • Katten Muchin Rosenman LLP
  • USA
  • October 5 2012

On September 28, the Office of the Comptroller of the Currency (OCC), which regulates national banks and federal savings associations (collectively, banks), issued a bulletin that changes how deficiencies in Bank Secrecy Act and Anti-Money Laundering (BSAAML) examination findings are assessed by examiners


FinCEN seeks to strengthen customer due diligence requirements
  • Katten Muchin Rosenman LLP
  • USA
  • March 2 2012

The Financial Crimes Enforcement Network on February 29 issued an advance notice of proposed rulemaking to solicit public comment on a wide range of questions pertaining to the possible application of an explicit customer due diligence obligation on financial institutions, including a requirement for financial institutions to identify beneficial ownership of their accountholders


FFIEC issues supplement to Authentication in an Internet Banking Environment to prevent fraud
  • Katten Muchin Rosenman LLP
  • USA
  • July 29 2011

The Federal Financial Institutions Examination Council recently issued a supplement to the Authentication in an Internet Banking Environment guidance, which was first issued in October 2005


FinCEN delays new currency transaction report and suspicious activity report deadlines
  • Katten Muchin Rosenman LLP
  • USA
  • January 6 2012

The Financial Crimes Enforcement Network (FinCEN) announced on December 20, 2011 that the deadline for financial institutions to utilize FinCEN's new Currency Transaction Report (CTR) and Suspicious Activity Report (SAR) for reporting purposes will be extended to March 31, 2013


FinCEN proposes amendments to definition of “money services businesses”
  • Katten Muchin Rosenman LLP
  • USA
  • May 15 2009

On May 12, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, released a proposed regulation revising a portion of the Bank Secrecy Act (BSA) with respect to which entities are money services businesses (MSBs) for purposes of the BSA’s definitions


Unlawful Internet Gambling Enforcement Act of 2006 examination procedures
  • Katten Muchin Rosenman LLP
  • USA
  • June 4 2010

On May 20, the Office of the Comptroller of the Currency issued interagency guidance for reviewing compliance with the joint rule promulgated by the U.S. Treasury Department and the Federal Reserve Board pursuant to the Unlawful Internet Gambling Enforcement Act of 2006


Federal agencies issue guidance regarding the Bank Secrecy Act and beneficial ownership
  • Katten Muchin Rosenman LLP
  • USA
  • March 5 2010

On March 5, the Financial Crimes Enforcement Network, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Securities and Exchange Commission released guidance to clarify and consolidate existing regulatory expectations for obtaining beneficial ownership information for certain accounts and customer relationships (the Guidance


FinCEN announces prepaid access webinar
  • Katten Muchin Rosenman LLP
  • USA
  • November 4 2011

The Financial Crimes Enforcement Network has announced that it will hold an informational webinar on Wednesday, November 9, from 3:00 to 4:00 p.m. EST that will highlight the new regulatory requirements of the Prepaid Access Final Rule, its intent and purpose, and the regulatory expectations