Suspicious activity reports in U.S. show increase in terrorist financing

Tweet FinCEN has released its latest SAR Activity Review, a compilation of suspicious activity reports (called suspicious transaction reports in Canada) filed by depository institutions, money services businesses, casinos and card clubs and segments of the securities industry and insurance industry. In 2009, the number of SARs filed dropped in all segments except the casinos […]

FinCEN proposing adding prepaid cards to anti-money laundering reporting system

Tweet The U.S. federal regulatory agency, Financial Crimes Enforcement Network (FinCEN), is proposing amendments to the Bank Secrecy Act regulations that would regulate prepaid cards and similar devices in the U.S. The proposal covers plastic cards, mobile phones, electronic serial numbers, key fobs and mechanisms that provide a portal to funds that have been paid […]