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US Treasury officials note how BOI stopped significant illicit money flows, and remind us of proposed rules on real estate transfers.
FinCEN’s joint notice with OFAC and the FBI directs financial firms to identify and report timeshare fraud conducted by Mexico-based criminal entities.
The proposed amendments are based on changes to the Bank Secrecy Act contained in the AML Act of 2020.
FinCEN move to track drug trade financial flows comes alongside new sanctions from US Treasury.
The new rule will require investment advisers to implement procedures to verify the identity of customers and maintain records supporting verification.
FinCEN signals need to remain vigilant in identifying and reporting suspicious activity related to environmental crime.
Time to adapt your compliance frameworks to address regulatory challenges.
US said to be “largely compliant” with a recommendation that countries have rules preventing criminals from hiding dirty money in shell companies.