"The Bank Secrecy Act data that FinCEN
collects, analyzes and disseminates provides tremendous insights into the illicit financial networks and individuals fueling America's deadly opioid crisis," said FinCEN
Director Kenneth Blanco.
Although the DOJ and FinCen
actions provided much-needed guidance, neither prohibits prosecution for violations of federal law.
is the central accounting and payables management entity for the entire Coast Guard.
spokeswoman Candice Basso confirmed that the GTO covering Florida, which originated in 2016, was extended March 21 and will expire September 16 of this year.
The bank's lawyers say that FinCEN
had made "exaggerated accusations" against the bank, and in most cases provided too general statements or did not ensure evidence of money laundering and bribery.
said that it is "seeking to prohibit the opening or maintaining of a correspondent account in the United States for, or on behalf of, ABLV Bank," which is reminiscent of the FBME Bank case, the Tanzanian lender banned by the US from transacting in US dollar in 2014.
The two House members currently are circulating the letter for signatures before sending it to FinCEN
Acting Director Jamal El-Hindi.
and FBME have been involved in a court case since the issuance of the Notice and on 14 April 2017 the US District Court for the District of Colombia ruled in favour of FinCEN
In 2013, FinCEN
issued guidance to persons administering, exchanging or using virtual currency.
"Though much work lies ahead in preparation for 2018, ABA appreciates FinCEN
's dialogue with the industry on this issue and believe it resulted in an improved final rule.
also implemented an Analyst Exchange program with the Kenyan FIU.