News & Analysis as of September 19, 2024

FinCEN › Identity Theft

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

FinCEN Issues Notice on Counterfeit Passport Card Fraud

Ballard Spahr LLP on 4/18/2024

The Financial Crimes Enforcement Network (“FinCEN”) has issued a Notice on the Use of Counterfeit U.S. Passport Cards to Perpetrate Identity Theft and Fraud Schemes at Financial Institutions (“Notice”), asking financial...more

Fraud Alert: The CTA Form 4022 Scam

Husch Blackwell LLP on 4/5/2024

Small business owners around the country have been receiving “Form 4022,” a letter from the “United States Business Regulation Department” under the guise of enforcing the recently effective Corporate Transparency Act (CTA)....more

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

Ballard Spahr LLP on 1/19/2024

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

FinCEN discusses digital identity threats

Orrick, Herrington & Sutcliffe LLP on 4/28/2023

On January 25, FinCEN's acting Deputy Director, Jimmy Kirby, spoke before the Identity Policy Forum regarding digital identity threats, stating that FinCEN is “pragmatically focused” on protecting the U.S. financial system...more

2022 Year-End and 2023 Planning

Seward & Kissel LLP on 12/28/2022

As the year is drawing to a close, we offer you some general advice regarding year-end planning and updated inflation-adjusted figures for 2023. Annual Exclusion Gifts - In 2022, the annual exclusion amount is $16,000...more

Federal Reserve and FinCEN Raise Alarms Regarding Technology-Assisted Financial Fraud

Ballard Spahr LLP on 8/2/2019

The Federal Reserve and the Financial Crimes Enforcement Network, or FinCEN, both recently issued reports addressing worrisome trends in technology-assisted financial fraud. The reports to engage the financial services...more

FinCEN Announces Another Geographic Targeting Order

Blank Rome LLP on 7/20/2015

South Florida check cashers will soon be required to obtain additional identifying information about customers cashing federal tax refund checks over $1,000. The Financial Crimes Enforcement Network issued another Geographic...more

FinCEN Issues Advisory to Financial Institutions: Update on Tax Refund Fraud and Related Identity Theft

Katten Muchin Rosenman LLP on 3/7/2013

On February 28, and in connection with the start of tax season, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to remind financial institutions about tax refund fraud and the required reporting of such...more

Corporate and Financial Weekly Digest - March 1, 2013

Katten Muchin Rosenman LLP on 3/4/2013

In this issue: - Recent SEC Speeches Focus on Investor Protection and Disclosure - SEC 2013 Examination Priorities - CFTC Revises Clearing Compliance Schedule for iTraxx CDS Indices - SEC Division...more

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FinCEN › Identity Theft

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