Proposed anti-money-laundering legislation on pre-paid access cards from the Financial Crimes Enforcement Network (Fincen) has faced criticism as its public comments phase comes to a close.
Over the course of July and August, Fincen welcomed comments regarding a proposed rulemaking designed to clamp down on the use of stored value cards for money laundering. In the proposal, Fincen argued pre-paid cards could increasingly be used for criminal activity, saying "the potential for high velocity of
The week on Risk.net, October 6-12, 2017Receive this by email
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