FinCEN Compliance: Navigating the Complex Maze of FinCEN Rules

$149.00

SKU: 407281

Description

Gain an understanding of AMLrelated regulatory and compliance obligations and FinCENs role in combating illicit activity.
This presentation will provide a highlevel overview of the Financial Crimes Enforcement Network (FinCEN), its role within the U.S. financial system, and how it interacts and coordinates with other financial regulators. The presentation will describe FinCENs statutory authority and its rulemaking processes, as well as Bank Secrecy Actrelated obligations imposed on financial institutions. The topic will also cover recent enforcement actions brought by FinCEN. Lastly, the presentation will discuss FinCENs role in the digitalasset sector and highlight recent initiatives such as FinCENs beneficial ownership registry and its whistleblower program.
After this presentation, you will have a deeper understanding of AMLrelated regulatory and compliance obligations for Financial Institutions. You will gain a critical understanding of how FinCEN interacts with other federal financial regulators to combat illicit activity in the U.S. financial system. You will also be able to identify enforcement trends, with a particular emphasis on the digital assets space.

Date: 2023-03-22 Start Time: 1:00 PM ET End Time: 2:05 PM ET

Learning Objectives

* You will be able to describe FinCENs role within the U.S. financial system in relation to other regulators, as well as banks and other financial institutions.

* You will be able to discuss recent proposals and rulemaking from FinCEN that will have an impact on financial system participants.

* You will be able to identify FinCENs rulemaking and enforcementrelated priorities and trends.

* You will be able to explain banks and other financial institutions compliancerelated obligations with respect to FinCENs regulations.

What Does FinCEN Do and How Is It Organized?
• Overview of FinCEN and How It Fits Within the Broader Anti-Money Laundering (AML) Framework, Including Its Relationship With Other Financial Regulators
• Discussion of How FinCEN Is Organized and the Main Responsibilities of Its Various Divisions

FinCEN’s Authority
• Issues Regulations Pursuant to Statutory Authority
• Enforces Compliance With Statutes and Regulations, Including the Bank Secrecy Act and Implementing Regulations
• Supports Law Enforcement Investigations and Prosecutions
• Shares Information and Coordinates With Foreign Financial Intelligence Units Around the World
• Section 311/Section 9714/Geographic Targeting Orders

FinCEN Requirements on Banks and Other Financial Institutions
• Compliance Programs
• SAR Filing Obligations
• CTR Filing Obligations
• Data Management

Overview of Recent Enforcement Actions
• General Overview
• FinCEN’s August 2020 Statement on Enforcement of the Bank Secrecy Act
• In the Matter of Bittrex, Inc.
• In the Matter of USAA Federal Savings Bank
• Potential Virtual Currency-Related Future Enforcement Actions

Hot Topics and Recent Developments
• Whistle-Blower Program
• BOI Registry
• CDD
• Virtual Currencies and FinCEN’s Outlook

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Alessio D. Evangelista-Skadden, Arps, Slate, Meagher & Flom LLP