On May 21, 2026, the Office of the Comptroller of the Currency (OCC) made public an April 2026 consent order (AA-ENF-2025-21) against a federal savings association based in the Northeast for deficiencies in its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The order is the latest in a growing line of enforcement actions demonstrating that
On May 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert designed to help financial institutions identify and disrupt funding streams and procurement networks supporting Iran’s Islamic Revolutionary Guard Corps (IRGC). The alert arrives at a moment of intensified U.S. economic pressure on the Iranian regime — part
On February 13, 2026, the Financial Crimes Enforcement Network (FinCEN) issued a significant order (FIN-2026-R001) granting exceptive relief to covered financial institutions from the long-standing requirement to identify and verify the beneficial owners of legal entity customers at each new account opening. While this development will be welcomed by many in the financial services industry
Two recent guilty pleas by former TD Bank employees — Oscar Marcel Nunez-Flores and Wilfredo Aquino — are a timely reminder that insider-enabled money laundering can defeat control frameworks if banks do not actively design for, detect, and deter employee misconduct. These cases come on the heels of TD Bank’s October 2024 criminal guilty plea
Two recent developments signal that momentum is building in Washington to recalibrate Bank Secrecy Act (BSA) reporting to produce higher‑value intelligence with less compliance friction. First, on October 9, 2025, the Financial Crimes Enforcement Network (FinCEN) and the federal banking regulators issued joint guidance in the form of Suspicious Activity Report (SAR) FAQs clarifying several
Financial institutions across the United States have grappled with compliance requirements under the Customer Identification Program (CIP) Rule for more than two decades. A new exemption, approved in June 2025, promises flexibility for banks and fintech companies. The exemption allows certain financial institutions to collect a taxpayer identification number (TIN) from a reliable third-party source
In a historic move that signals a new era in the fight against illicit opioid trafficking and money laundering, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued its first-ever orders under the newly enacted Section 2313a of the Fentanyl Sanctions Act, as amended by the FEND Off Fentanyl Act. These
The U.S. real estate market has long been a cornerstone of the American dream—a path to stability, investment, and generational wealth. But at the margins, that same market has also provided an opportunity for illicit actors who exploit all-cash deals to quietly launder dirty money into legitimate assets. Recognizing this vulnerability, in August 2024, the
The Trump administration remains focused on countering Mexican cartels and other Latin American transnational criminal organizations (TCOs). Since designating eight TCOs as foreign terrorist organizations (FTOs), the Financial Crimes Enforcement Network (FinCEN) and Department of Justice (DOJ) have issued alerts and prosecutorial guidance respectively reinforcing the administration’s whole-of-government approach to countering this threat. As with
On March 11, 2025, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) aimed at disrupting drug trafficking and money laundering along the southwestern border. The GTO significantly lowers the Currency Transaction Reports (CTR) threshold from $10,000 to $200 for money service businesses (MSBs) operating in 30 zip codes across