Financial Crimes Enforcement Network, US Treasury

Today, the Financial Crimes Enforcement Network assessed an historic $125 million penalty against UBS Financial Services Inc. for recidivist violations of the Bank Secrecy Act. https://lnkd.in/ej7Nq7Jz 

Today, the Financial Crimes Enforcement Network (FinCEN) issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government. The schemes not only result in losses to Federal student aid programs, but in some cases, real students face difficulties enrolling in classes because of the number of fraudulently enrolled “students.” Read more: https://lnkd.in/ehtbg9_B

Become a part of the team that safeguards the financial system from the abuses of financial crime. At the Financial Crimes Enforcement Network (FinCEN), we are at the forefront in detecting and preventing terrorist financing, money laundering, and other financial crime. https://lnkd.in/e_NA5ZHg

Last week, the NECC was proud to host the first UK-U.S. Public Private Partnership Forum, a two-day event bringing together over 70 financial crime representatives from across the public and private sectors, as well as international partners. The forum provided a valuable opportunity for constructive dialogue on shared challenges and priorities, reaffirming the importance of cross-sector and cross-border collaboration in responding to the evolving economic crime landscape. The forum addressed a number of critical themes, including: - Vulnerabilities and predicate offences associated with International Money Laundering Networks and the collective PPP response. - Growth of Investment Fraud and the challenge of co-ordinating intelligence across jurisdictions. - Threat of Online Child Sexual Exploitation, the use of PPPs to combat CSA livestreaming and insights from international partners. Across both days there was a sustained focus on identifying opportunities for collaboration between jurisdictions, deepening collective knowledge of key economic crime threat areas and a focus on building sustainable international partnerships to support future priorities. Thank you to all speakers, delegates and partners who contributed in making this event such a success. We look forward to continuing these discussions and building on the outcomes of this event.

Today, FinCEN issued a proposed rule intended to reduce unnecessary regulatory burden by allowing financial institutions to focus resources on higher-risk areas in their programs to counter money laundering and terror financing. https://lnkd.in/eUtxT8Kv

Become a part of the team that safeguards the financial system from the abuses of financial crime. At the Financial Crimes Enforcement Network (FinCEN), we are at the forefront in detecting and preventing terrorist financing, money laundering, and other financial crime. https://lnkd.in/ed56wFbH

Become a part of the team that safeguards the financial system from the abuses of financial crime. At the Financial Crimes Enforcement Network (FinCEN), we are at the forefront in detecting and preventing terrorist financing, money laundering, and other financial crime. https://lnkd.in/eZr866fe

Today, FinCEN assessed an historic $80 million penalty against Canaccord Genuity LLC for securities fraud-related Bank Secrecy Act (BSA) violations. This is the largest penalty ever imposed against a broker-dealer for violating the BSA. https://lnkd.in/ewRPB5Zu

Become a part of the team that safeguards the financial system from the abuses of financial crime. At the Financial Crimes Enforcement Network (FinCEN), we are at the forefront in detecting and preventing terrorist financing, money laundering, and other financial crime. https://lnkd.in/eDzjvD-g

Become a part of the team that safeguards the financial system from the abuses of financial crime. At the Financial Crimes Enforcement Network (FinCEN), we are at the forefront in detecting and preventing terrorist financing, money laundering, and other financial crime. https://lnkd.in/e2BgGs_M