SARs

January 16, 2025 - Washington DC: The Senate Finance Committee examines the nomination of Scott Bessent for secretary of the treasury.

Treasury Proposes AML and Sanctions Rules for Stablecoin Issuers

The U.S. Treasury Department on Wednesday proposed new anti-money-laundering and sanctions-compliance rules for permitted payment stablecoin issuers, marking a major step in implementing the 2025 GENIUS Act and expanding federal oversight of the sector.

An image of the FinCEN emblem placed over an image of the Treasury Department building

FinCEN Proposes Overhaul of AML Rules, New Role in Oversight

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed a broad rewrite of anti-money-laundering and counterterrorism-financing rules that would shift the focus of compliance from technical box-checking to whether a financial institution’s controls are actually effective.

U.S. Treasury Department with statue of former Treasury Secretary Alexander Hamilton in foreground.

FinCEN Warns on Healthcare Fraud, Proposes Whistleblower Pay

The U.S. Financial Crimes Enforcement Network (FinCEN) on Monday issued an advisory urging banks and other financial institutions to step up detection and reporting of healthcare fraud tied to Medicare, Medicaid and other public health benefit programs.

A photo of Jeffrey Epstein and Ghislaine Maxwell standing before the Great Wall of China, from the Epstein Files, and enhanced by AI.

UBS Moved Millions for Ghislaine Maxwell After 2019 Subpoena

UBS AG processed an $8-million transfer for Ghislaine Maxwell in late 2019 that ultimately helped fund the cash purchase of the New Hampshire estate where she later went into hiding before her 2020 arrest.

A photo of the Bundeshaus in Bern, Switzerland, where the Federal Council convenes.

Switzerland Approves Strategy to Fight Dirty Money and Terror Finance

Switzerland has approved its first comprehensive national strategy for fighting money laundering and terrorist financing, the country’s Federal Council announced Friday.

A cropped photograph from the U.S. Justice Department's Epstein Files showing a letter from Bank of America addressed to Leon Black, with some redactions on the page. — Source: U.S. Justice Department

Leon Black to Be Deposed in Case Alleging BofA Ignored Epstein Red Flags

Leon Black, the billionaire financier and former chief executive of Apollo Global Management, has been ordered to sit for a deposition in a lawsuit accusing Bank of America of facilitating and profiting from Jeffrey Epstein’s sex-trafficking operation.

New York, NY, US - August 15, 2021: Deutsche Bank office in New York, a German multinational investment bank and financial services company known as to have invested in the Trump Organization.

As Chen Zhi’s Pig-Butchering Empire Grew, So Did His Financial Footprint

Once celebrated as a philanthropist and real estate magnate, Cambodian tycoon Chen Zhi built a web of political influence and banking relationships that helped shield what authorities now describe as a vast transnational scam and gambling syndicate.

A macro shot of the "back" of a U.S. $10 bill.

FinCEN Hits Canaccord Genuity with $80-Million Penalty

FinCEN said on Friday it had assessed an $80-million civil penalty against Canaccord Genuity LLC over AML failures tied to suspicious trading in OTC securities.

A photo from the Epstein files showing Jeffrey Epstein wearing a party cone hat that's askew while he sits at a table in robe looking off camera.

Pill-Popping and Pimping: Why Epstein & Friends Were the Subject of 40 SARs

The DEA opened a secret investigation into Jeffrey Epstein in 2015 on suspicions of money laundering, drug trafficking, and running a prostitution ring that procured Eastern European women for high-profile clients.

Photo of a sign of the Financial Conduct Authority

UK Oversight of Professional Services Falls Short on Enforcement

The UK’s current system of supervisors overseeing the anti-money-laundering (AML) programs of law firms, accountancies, and other professional bodies is failing to take “sufficiently dissuasive disciplinary measures” against those that fail to meet compliance standards, according to a new report.