Rise in SARs Straining Switzerland’s Anti-Money Laundering Office
Switzerland’s Money Laundering Reporting Office (MROS) says it is hitting capacity limits as banks and other firms flood the agency with record numbers of suspicious activity reports, according to SWI swissinfo.ch.
Senate GOP Bill Would Raise BSA Reporting Thresholds and Tie Them to Inflation
Proposed legislation introduced in the U.S. Senate would increase dollar-thresholds triggering reporting requirements under the Bank Secrecy Act for the first time since 1970 and require periodic adjustments to account for inflation, Republican lawmakers said. The “Streamlining Transaction Reporting and Ensuring Anti-Money Laundering Improvements for a New Era Act”, or STREAMLINE Act, would raise the […]
Bank of America, BNY Mellon Sued for Alleged Compliance Failures Linked to Epstein
New class-action lawsuits allege that Bank of America and BNY Mellon enabled Jeffrey Epstein’s trafficking of underage girls, in part by failing to report suspicious activity linked to the financier until after his death in 2019, The Wall Street Journal reported.
Bessent Says FinCEN’s New SAR Guidance Will Ease ‘Pain Points’ for Banks
U.S. Treasury Secretary Scott Bessent said new federal guidance on Suspicious Activity Reports (SARs) is intended to ease banks’ “pain points” and shift U.S. anti-money laundering oversight toward measurable effectiveness.
FinCEN Pushes Real-Estate Reporting Enforcement to 2026
The U.S. Treasury Department has postponed enforcement of its new residential real-estate reporting rule until March 1, 2026, issuing a temporary exemptive order to give the industry more time to prepare.
FINTRAC Levies Record $14-Million AML Fine Against KuCoin
Canada’s anti–money laundering watchdog has levied a C$19.5 million penalty against crypto exchange KuCoin for violations of the country’s AML rules.