FinCEN moves on multiple AML fronts
ANTI-MONEY LAUNDERING
WASHINGTON, DC -- The Financial Crimes Enforcement Network (FinCEN) has issued several anti-money laundering (AML) regulations and pronouncements in April.
314 clarifications
FinCEN’s director James Sloan responded to complaints and suggestions from the banking industry on Section 314 of the US Patriot Act, in mid-April. Section 314 requires banks to comply with information requests from law enforcement agencies.
Sloan acknowledged in his response letter that information requests that require
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