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Embracing A New Era of Transparency
The leak and subsequent investigation of the FinCEN Files hit the financial services industry hard this past week - resulting in sharp declines in banking shares on Monday and a flurry of leaders calling for reform.
September 25, 2020at11:00 PM
FinCEN Files: SARs
Among the startling findings in the FinCEN files were details on the time it took financial institutions to files SARs with FinCEN. Under regulation, banks are required to file SARs within 30 days of criminal activity being detected (and up to 60 days in some cases).
September 23, 2020at12:00 PM
The FinCEN Files: Address Risk
With the release of the FinCEN Files, what was a common denominator related to an international money laundering network, sanctioned in September 2015, that laundered billions of dollars for the world's biggest drug cartels and armed groups, including the Taliban and al-Qaeda?