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The Latest Breaking News from FinCEN

Feds slap TD Bank with $3.1 billion in fines for money laundering of fentanyl trafficking and terrorist financing

The Justice Department say TD allowed child traffickers, fentanyl rings and others to operate on its network.

Fortune

New US rules try to make it harder for criminals to launder money by paying cash for homes

The Treasury Department has issued new regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate

The Independent UK

Corporate Transparency Act (CTA): Make Sure to CYA and File

The Corporate Transparency Act can be confusing, and filing your company's info can seem daunting, but it's better to comply than to face substantial penalties.

Kiplinger

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Target just became the latest US retailer to stop accepting payment by checks. Why have so many stores given up on them?

Can you still use a check to make purchases? In increasing numbers of stores across the U.S., the answer is “no.” The large retailer Target stopped accepting checks on July 15, 2024. It follows decisions a decade earlier by supermarket chains Whole Foods and Aldi to no longer accept this…

The Conversation

Financial fraud, romance scams skim U.S. elders of 27 billion in one year

Hispanic older adults are, after Whites, the second most affected demography by financial crimes against consumers

Latin Times

Important Update: Corporate Transparency Act Compliance Requirements

Learn about the Corporate Transparency Act (CTA) and its impact on small businesses in the US.

Top News

Federal Court Rules Corporate Transparency Act Unconstitutional

Federal court in Alabama rules Corporate Transparency Act unconstitutional, impacting small businesses' reporting requirements.

Top News

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Feds Enforcing Unconstitutional Reporting Law Against Most Businesses

Are you in compliance with the Corporate Transparency Act? Have you even heard of it?

Reason

Texas-Style Money Laundering

FinCEN’s proposed real estate rule could help investigators flag dubious deals—but there’s a big loophole.

Texas Observer

Bitcoin 'Specifically Referenced' In Suspected Child Exploitation Activities: US Treasury

Bitcoin has been linked to transactions associated with suspected human trafficking and child exploitation activities, a new analysis by the U.S. Treasury Department revealed.

International Business Times

FinCEN Targets Investment Advisors with Full Anti-Money Laundering Requirements

If approved, the new rules would require investment advisers to file suspicious activity reports

Latin Times

US Treasury Proposes Anti-Money Laundering Rules for Fund Advisers

The US Treasury unit has proposed new rules requiring fund advisers to strengthen anti-money laundering measures, aiming to combat financial crime.

Top News

Yellen faces Senate inquiry on alleged privacy violations

Janet Yellen is set to address senators amid concerns that the Biden administration is monitoring Americans' purchases. A gun rights group demands privacy ...

Top News

Yellen says 100,000 firms have joined a business database aimed at unmasking shell company owners

Treasury Secretary Janet Yellen is announcing that 100,000 businesses have signed up for a new database that collects ownership information on firms intended to help unmask shell company owners

The Independent UK

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Kiplinger

Are You Ready for the Corporate Transparency Act?

CTA, taking effect on Jan. 1, requires many businesses to file with the Financial Crimes Enforcement Network (FinCEN). Filing requirements and privacy issues are raising eyebrows.

The Independent UK

What small businesses need to know about new regulations going into 2024

Regulations are a double-edged sword

Fortune

Binance avoided a death sentence—but the slow bleed is yet to come

The long-awaited settlement with the crypto exchange avoided FTX territory.

The Independent UK

World’s largest crypto exchange pays $4.3bn to settle federal cases as CEO resigns

Binance crypto exhange was facing scrutiny from federal regulators including the Commodity Futures Trading Commission and the Departments of Justice and Treasury

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news in one place.

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The Independent UK

Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possible

Check fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether

The Independent UK

Federal bank records emerge as focus of GOP's Biden probes

House Republicans are facing growing pressure to show progress in their investigations

Reason

Unlock the Cannabis Industry for Financial Institutions

Financial institutions have been locked out of the cannabis industry because of a surveillance regime that appears to have done little to stop real criminals.

Reason

Libertarian Radio Host Ian Freeman Convicted for Helping People Buy Bitcoin

Freeman, an early adopter of the virtual currency, gets slammed by a state that can't tolerate any use of money without its permission and knowledge.

Reuters

Russian hackers account for most 2021 ransomware schemes, U.S. says

Payment-seeking software made by Russian hackers was used in three quarters of all the ransomware schemes reported to a U.S. financial crime agency in the second half of 2021, a Treasury Department analysis released on Tuesday showed.

Benzinga

Crypto Exchange Currency.com Registers With FinCEN: A New Compliant US Crypto Exchange

Cryptocurrency and tokenized asset exchange Currency.com set its foot in the U.S following registration with the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) as a money services business.

Tribune News Service

States often first in crypto enforcement, leaving feds to follow

WASHINGTON — State regulators are taking the lead on cryptocurrency enforcement in the absence of a national approach to regulation, in some cases acting years before companies faced federal charges.

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