Anti-Financial Crime & Financial Crime Compliance
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NEWS: Identity red flags accounted for $212BN in suspicious activity, reveals FinCEN; more than 40pc of STRs linked to IDs

BSA VIOLATIONS: “Asre allowed millions of dollars in high-risk transactions to be processed without required anti-money laundering controls or reporting to FinCEN,” said FinCEN Director Andrea Gacki. “Today’s action serves as a reminder that FinCEN will not hesitate to take action against individuals when their conduct jeopardizes the integrity of our financial system,” she said.

By AML Intelligence Correspondents FinCEN today (Tuesday) revealed approximately 1.6 million reports suspicious reports it received were related to identity – indicating $212 billion in suspicious activity. The bureau today issued its Financial Trend Analysis (FTA) on information linked to identity-related suspicious activity in Bank Secrecy Act (BSA) reports filed for 2021. The 1.6m suspicious…

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