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How Much Does The Government Know About Your Bank Account?

Quick Answer: Banks and credit unions are legally required to share certain financial information with the U.S. government. This includes interest income (reported to the IRS), large cash transactions ...
American Banker

Fincen, seeing scams, urges banks beware crypto ATMs

The Financial Crimes Enforcement Network (Fincen) issued a notice on Monday urging financial institutions to significantly increase their vigilance in identifying and reporting suspicious activity ...
HousingWire

FinCEN’s anti-money laundering rule struck down: what real estate and title professionals need to know

Legal observers warn that FinCEN retains broad authority over real estate transactions — and could ultimately impose stricter ...
Crowdfund Insider

FinCEN Updates on Suspicious Activity Reports (SARs), Aims to Reduce the Noise

Financial services firms are required to issue Suspicious Activity Reports (SARs) when they suspect money laundering or other illicit activities. This includes transactions of around $10,000 or ...
Crowdfund Insider

FinCEN Assesses Penalty Against Paxful for “Willfully” Facilitating Suspicious Activity Involving Illicit Actors

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has assessed a $3,500,000 civil money penalty against Paxful, Inc. and Paxful USA, Inc. (collectively doing business as, ...