FinCEN

Shell-company bill drives wedge between banking, small business

10/28/19

Beneficial-ownership legislation is within the banking industry’s reach, but the prospect of new regulatory burdens for small businesses is forcing lawmakers to choose sides.

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The fight against financial crime has just begun

10/28/19

Regulators globally are using "tech sprints" to test new anti-money-laundering solutions. More can be done, but it's a good start.

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Crypto firms can't skirt AML compliance: Fincen chief

10/21/19

Kenneth Blanco's tough comments appeared to target payments providers that offer their users anonymity.

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Small banks can use tech to make their size an advantage in AML compliance

10/16/19

New tech can help banks with less cumbersome systems track suspicious activity more effectively.

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Data aggregators push back against notion they have a fraud problem

09/30/19

Fincen and others say third parties are proving to be treasure chests for crooks who create synthetic identities, but aggregators argue they help detect risk banks can’t see.

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Senators formally introduce bipartisan AML reform bill

09/26/19

Though a draft has been circulating since this summer, eight senators on Thursday officially released a bill to require companies to disclose their true owners at incorporation.

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Bad actors targeting fintech aggregators: Fincen chief

09/24/19

Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms.

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AI use carries bias risk for financial regulators

08/16/19

Agencies like Fincen and Finra that use machine learning must pay close attention to potential bias in supervisory algorithms, especially with data on women and minorities.

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Regulators must issue AI guidance or FDIC will: McWilliams

08/02/19

The FDIC chief said it is critical to give the industry clarity on using emerging technologies, particularly for the thousands of community banks her agency oversees.

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Facebook won’t launch crypto service until regulators satisfied, exec says

07/15/19

David Marcus, who oversees Facebook’s digital wallet, plans to tell Congress that the company will roll out Libra only after it has "received appropriate approvals.”

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