Kelly Lenahan-Pfahlert

Ballard Spahr LLP

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FinCEN Analysis Reveals $212 Billion in Identity-Related Suspicious Activity

The Financial Crimes Enforcement Network (“FinCEN”) recently released a Financial Trend Analysis (“FTA”) focusing on identity-related suspicious activity. The FTA was issued pursuant to section 6206 of the Anti-Money...more

1/19/2024 / Anti-Money Laundering , Bank Secrecy Act , BSA/AML , Financial Crimes , Financial Institutions , FinCEN , Identity Theft , Money Laundering , Regulatory Requirements , Suspicious Activity Reports (SARs)

FinCEN and BIS Issue Joint Alert on Potential Russian and Belarusian Export Control Evasion

The Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) issued a joint alert on June 28, 2022, warning of evasion attempts by individuals or entities to...more

7/6/2022 / Banks , Bureau of Industry and Security (BIS) , Economic Sanctions , Financial Institutions , FinCEN , Office of Foreign Assets Control (OFAC) , Suspicious Activity Reports (SARs)

Transformation of the AML/CFT Regulatory Regime Requires Innovation and Collaboration, According to FinCEN Acting Director

On January 13, 2022, Himamauli “Him” Das, the Acting Director of FinCEN, virtually addressed the Financial Crimes Enforcement Conference hosted by the American Bankers Association and the American Bar Association. In his...more

1/27/2022 / AML/CFT , Anti-Money Laundering , Bank Secrecy Act , Financial Crimes , Financial Institutions , FinCEN , Suspicious Activity Reports (SARs)

FinCEN Reports Spiraling SARs Relating to Ransomware

On October 15, 2021, the Financial Crimes Enforcement Network (“FinCEN”) issued a financial trend analysis on ransomware relating to Suspicious Activity Reports (“SARs”) filed in the first half of this year (“Analysis”). ...more

10/22/2021 / Cryptocurrency , Cybersecurity , FinCEN , Money Laundering , Office of Foreign Assets Control (OFAC) , Popular , Ransomware , Suspicious Activity Reports (SARs) , Virtual Currency

FinCEN and CFTC Reach Groundbreaking $100 Million AML Settlement with BitMEX

Government Alleges Systemic and Deliberate AML Failures - Filings Describe Tools for CVC Exchanges to Use for Customer Due Diligence and Transaction Monitoring - The Financial Crimes Enforcement Network (“FinCEN”) and...more

8/25/2021 / Anti-Money Laundering , Bank Secrecy Act , BitMEX , CFTC , Cryptocurrency , FinCEN , Suspicious Activity Reports (SARs) , Virtual Currency

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