by Liz DeMarco | Mar 20, 2026 | Risky Business Recap
Snapshot: On March 6, 2026, FinCEN assessed an $80 million civil money penalty against Canaccord Genuity LLC for willful violations of the Bank Secrecy Act, marking the largest BSA penalty ever imposed on a broker‑dealer. The enforcement action cited failures related...
by Liz DeMarco | Mar 13, 2026 | Risky Business Recap
Snapshot: On March 7, 2026, the U.S. Department of the Treasury released its latest National Risk Assessments for Money Laundering, Terrorist Financing, and Proliferation Financing. The reports highlight evolving risks tied to fraud, transnational criminal...
by Liz DeMarco | Mar 6, 2026 | Risky Business Recap
Snapshot: On February 27, 2026, the FFIEC released updates to multiple sections of the BSA/AML Examination Manual, including Suspicious Activity Reporting, Payable Through Accounts, Electronic Banking, and Nondeposit Investment Products. The revisions also formally...
by Liz DeMarco | Feb 27, 2026 | Risky Business Recap
Snapshot: On February 26, 2026, the U.S. Department of the Treasury, through FinCEN, issued an NPRM that would sever MBaer Merchant Bank AG’s access to the U.S. financial system due to its alleged financial support to illicit actors linked to Russia and Iran. If...
by Liz DeMarco | Feb 20, 2026 | Risky Business Recap
Snapshot: On February 13, 2026, the FATF released its newest update to the jurisdictions under increased monitoring—commonly called the grey list—adding Kuwait and Papua New Guinea. No countries were removed during this review cycle. Why it Matters: Grey‑listed...
by Liz DeMarco | Feb 17, 2026 | Risky Business Recap
Snapshot: Big news from Friday—On February 13, 2026, FinCEN issued an order granting exceptive relief from portions of the 2016 Customer Due Diligence (CDD) Rule. The relief removes the requirement for financial institutions to re‑identify and re‑verify beneficial...
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