Tag Archives: Financial Crimes Enforcement Network

Fighting Money Laundering with the Bank Secrecy Act

Money launderers beware: The Financial Crimes Enforcement Network (FinCEN)—an agency within the Department of Treasury—has many ways of collecting information on financial activities, making life harder for criminals to hide their illicit cash. Today’s WatchBlog looks at 2 recent reports … Continue reading

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Deterring Financial Crime with the Bank Secrecy Act

Money laundering, terrorist financing, and other illicit activities pose threats to national security and the integrity of the U.S. financial system. The Bank Secrecy Act (BSA) requires financial institutions—such as banks and money transmitters—to verify customers’ identities and report suspicious … Continue reading

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The Risks of Virtual Currencies

In February 2014, the Mt. Gox virtual currency exchange filed for bankruptcy, stating that a security breach resulted in the loss of bitcoins worth more than $460 million at the time. This incident is one of many real-world illustrations of … Continue reading

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