Recently, a study was conducted by the US Government Accountability Office (GAO) regarding residents and businesses along the Southwest border of the United States that were experiencing difficulties accessing banking services in the area. The GAO was asked to investigate… Read more >
One of California’s oldest card clubs, Artichoke Joe’s, has been fined $8 million by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). According to FinCEN, Artichoke Joe’s “willfully violated” anti-money laundering (AML) laws from 2009 to 2017 by failing to… Read more >
In recent years, modern slavery, specifically in the form of human trafficking, has become an egregious issue within the United States (US) as well as internationally. While many think of slavery as a relic of history, unfortunately, global statistics show… Read more >
Lone Star National Bank based in Texas has been fined $2 million by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) for “willfully violating” Anti-Money Laundering (AML) requirements of the Bank Secrecy Act including failing to obtain proper customer due… Read more >
With the upcoming due date for the implementation of FinCEN’s Final Rule, companies should be implementing due diligence programs, if they haven’t already, that are intrinsic and sustainable in order to build long term strategies towards compliance. Furthermore, as organizations… Read more >