Description
Gain an understanding of AMLrelated regulatory and compliance obligations and FinCENs role in combating illicit activity.
This presentation will provide a highlevel overview of the Financial Crimes Enforcement Network (FinCEN), its role within the U.S. financial system, and how it interacts and coordinates with other financial regulators. The presentation will describe FinCENs statutory authority and its rulemaking processes, as well as Bank Secrecy Actrelated obligations imposed on financial institutions. The topic will also cover recent enforcement actions brought by FinCEN. Lastly, the presentation will discuss FinCENs role in the digitalasset sector and highlight recent initiatives such as FinCENs beneficial ownership registry and its whistleblower program.
After this presentation, you will have a deeper understanding of AMLrelated regulatory and compliance obligations for Financial Institutions. You will gain a critical understanding of how FinCEN interacts with other federal financial regulators to combat illicit activity in the U.S. financial system. You will also be able to identify enforcement trends, with a particular emphasis on the digital assets space.
Date: 2023-03-22 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to describe FinCENs role within the U.S. financial system in relation to other regulators, as well as banks and other financial institutions.
* You will be able to discuss recent proposals and rulemaking from FinCEN that will have an impact on financial system participants.
* You will be able to identify FinCENs rulemaking and enforcementrelated priorities and trends.
* You will be able to explain banks and other financial institutions compliancerelated obligations with respect to FinCENs regulations.