The Financial Crimes Enforcement Network (FinCEN) and federal banking regulators recently issued a Joint Statement intended to clarify the due diligence obligations of banks under the Bank Secrecy Act (BSA) regarding...more
9/17/2020
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Customer Due Diligence (CDD) ,
FFIEC ,
Financial Institutions ,
Financial Regulatory Reform ,
FinCEN ,
Joint Statements ,
Politically Exposed Person (PEPs) ,
Regulatory Requirements ,
Risk-Based Approaches
Earlier this month, senior officials of the global money laundering and terrorist financing watchdog—the Financial Action Task Force (FATF)—issued a paper identifying challenges, good practices, and policy responses to new...more