MVALaw Blogs

Archives for BSA/AML

Fall 2020 Brings Increased Regulatory Focus on Financial Institution Detection of Human Trafficking

On October 15, 2020, the Financial Crimes Enforcement Network of the U.S. Department of Treasury (FinCEN) released its Supplemental Advisory on Identifying and Reporting Human Trafficking and Related Activity (Supplemental Advisory). The last time FinCEN provided guidance on identifying trafficking…

Enhancing Transparency in the Agencies’ Approach to BSA/AML Examinations

By Barbara Meeks and Kristina Whittaker. Last month the Financial Crimes Enforcement Network (FinCEN) and the federal bank regulators issued a Joint Statement aimed at improving transparency into their risk-focused examination and supervision of banks’ compliance with Bank Secrecy Act/Anti-money…