Update: On January 24, FinCEN published updated reporting guidance in which it announced that reporting companies are not ...

Discusses the willfully requirement for the filing of FINCEN Beneficial Ownership Information Reports (BOIR) under the ...

FinCEN issued an advisory (the “Advisory”) to update financial institutions on the increased use of “funnel accounts” as part of trade-based money laundering (“TBML”) by criminals in ...

The Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of the Treasury, has imposed its first-ever penalty on a peer-to-peer crypto exchange for violating AML ...

Finally, FinCEN issues new FAQs that complicate the reporting process (e.g., dissolved entities, trusts, etc.). Noncompliance penalties are about $600/day per infraction and up to two years in jail.

“When FinCEN tries to find out who is doing money ... But the low compliance rate so late in the year reflects problems with the general way the CTA was written, says Alan Granwell, an attorney ...

Even the single-member LLCs, which are “disregarded” for income tax purposes, must file reports with FinCEN under the CTA. The term “ownership” itself is not as straightforward or simple ...

The Financial Crimes Enforcement Network list includes inflation-adjusted amounts for the civil monetary penalties for violating beneficial ownership information reporting rules.

The U.S. FinCEN has hired Michele Korver, previously in the DOJ Digital Currency Council, as the first-ever Chief Digital Currency Advisor. The U.S. Financial Crimes Enforcement Network (FinCEN) ...