by Liz DeMarco | Nov 6, 2026 | Risky Business Recap
Snapshot: On November 5, the U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned four individuals and 41 entities connected to networks supporting cyber-enabled fraud, money laundering, and sanctions evasion. The action expands Treasury’s...
by Liz DeMarco | Oct 30, 2026 | Risky Business Recap
Snapshot: On October 29, 2026, the Justice Department announced indictments stemming from Operation Ghostbusters, an investigation into an alleged scheme using stolen U.S. identities to create fraudulent FAFSA accounts and enroll “ghost students” in educational...
by Liz DeMarco | Oct 23, 2026 | Risky Business Recap
Snapshot: On October 21, 2026, the OCC issued its final rule implementing key provisions of the GENIUS Act, establishing requirements for permitted payment stablecoin issuers, foreign payment stablecoin issuers under OCC jurisdiction, and certain custody activities...
by Liz DeMarco | Oct 16, 2026 | Risky Business Recap
Snapshot: On October 13, 2026, FinCEN assessed a $1.2 billion penalty against Bank of America for BSA violations, including failures involving its AML program, correspondent banking due diligence, and suspicious activity reporting. The coordinated action also included...
by Liz DeMarco | Oct 16, 2026 | Compliance Chronicles
When transaction monitoring, escalation, staffing, audit, and remediation all break down at once, the consequences can be enormous. On October 13, 2026, FinCEN assessed a $1.2 billion civil money penalty against Bank of America for violations of the Bank Secrecy Act...
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