Financial Crimes Enforcement Network


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Related to Financial Crimes Enforcement Network: Bank Secrecy Act
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Noun1.Financial Crimes Enforcement Network - a law enforcement agency of the Treasury Department responsible for establishing and implementing policies to detect money laundering
Department of the Treasury, Treasury Department, United States Treasury, Treasury - the federal department that collects revenue and administers federal finances; the Treasury Department was created in 1789
law enforcement agency - an agency responsible for insuring obedience to the laws
References in periodicals archive ?
Tanzanian-based FBME Bank Ltd, which has offices in Cyprus, was this week named by the US Treasury Financial Crimes Enforcement Network (FinCEN) as a "foreign financial institution of primary money laundering concern".
The dossier, issued by the US Treasury Department through its Director of Financial Crimes Enforcement Network, Ms Jennifer Shasky Calvery, said: "FBME has a significant number of shell company customers nominally based in Cyprus and in other high-risk jurisdictions.
According to an advisory issued by the US Treasury's Financial Crimes Enforcement Network (FinCEN), foreign individuals are abusing the citizenship-by-investment program sponsored by St Kitts & Nevis (SKN) to obtain SKN passports for the purpose of engaging in illicit financial activity, reports Caribbean News Now (May 22, 2014):
The bank has since split its compliance department in two, hiring Bob Werner - former head of the US Treasury Department's Office of Foreign Assets Control and Financial Crimes Enforcement Network - as head of financial crime compliance and group money laundering reporting officer.
The claim of a telephone being recovered from bin Laden's compound in Abbottabad was made by Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network in Department of Treasury, at a conference on money laundering, during which he highlighted the significance of "suspicious activity report" or SAR which is being implemented by the Federal Bureau of Investigation in its fight against terrorism.
MoF officials also disclosed that, on April 11 this year, US Department of Treasury, the Financial Crimes Enforcement Network, and US FIU have proposed to work hand in hand with Pakistan.
The Cabinet approved a memorandum of understanding on cooperation in the exchange of information relevant to money laundering and terror financing between the Saudi Financial Investigation Unit (SFIU) of the Ministry of Interior and the Financial Crimes Enforcement Network in the United States, which was signed on 12/07/2011.
The Financial Crimes Enforcement Network under the Treasury Department has submitted a proposal to oblige international travelers to declare "tangible prepaid access devices" at U.
To help financial institutions and advisors identify and report such problems, the Financial Crimes Enforcement Network (FinCEN) has issued a list of "red flags" to watch for.
The Office of the Comptroller of the Currency and the Financial Crimes Enforcement Network are believed to have exposed 132 cases of suspicious activity worth USD12.
The Financial Crimes Enforcement Network (FinCEN), within the Department of the Treasury, supports law enforcement agencies (LEAs) in their efforts to investigate financial crimes by providing them with services and products, such as access to financial data, analysis, and case support.
Eugene Ludwig, CEO of Promontory Compliance Solutions said that the US Financial Crimes Enforcement Network in March levied its largest penalty ever ($110 million) against a financial institution for violations of the Bank Secrecy Act.

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