Tagged: bank secrecy act

Blockchain Perhaps? OCC, Federal Reserve, FDIC, FinCEN & NCUA Encourage Banks to Innovate When it Comes to AML/BSA Compliance

Multiple federal agencies have come together to encourage banks to innovate when it comes to compliance. The statement is part of a governmental working group that has been created to collaborate between some of the financial regulatory entities. The Office of the Comptroller of the Currency… Read More

AML and Sanctions Compliance Issues Facing Cryptocurrency Companies

Over the past few years, continued advancements in the payments industry and financial services technology have significantly expanded the way money financial transactions are processed and managed.  Banks and payment and technology firms are accelerating efforts to innovate and adapt financial services alternatives to meet… Read More

Request for Comments: Department of Treasury Asks for Feedback on Proposal to Have Crowdfunding Platforms Become More Like Broker-Dealers

Last week Crowdfund Insider reported that the Financial Crimes Enforcement Network (FinCEN), an arm of the Department of Treasury, had published a proposed rule change that will impact the nascent investment crowdfunding industry. The proposed change will require funding portals to adhere to the Bank Secrecy… Read More

Crowdfunding Portals or Broker Dealers: Department of Treasury Amends Definition of Broker Dealers to Accommodate Title III Platforms

The US Department of Treasury, via the Financial Crimes Enforcement Network (FinCEN), has published a proposed rule change that impacts the definition of a funding portal under Title III of the JOBS Act. This new rule-making would amend some definitions to include funding portals. Specifically,… Read More

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