FinCEN | Certain Risk

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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 of the statue of Albert Gallatin in front of the US Treasury Department — Source: https://www.flickr.com/photos/tabor-roeder/6048338954 License: https://creativecommons.org/licenses/by/2.0/

FinCEN Levies Sec. 311 Against Switzerland’s MBaer Bank

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Thursday proposed a Section 311 “special measure” that, if finalized, would cut MBaer Merchant Bank AG off from the American financial system.

TFI’s Hurley to Exit After Objecting to Minneapolis Crackdown

A senior Treasury Department official is preparing to resign after privately raising objections to a White House-backed initiative aimed at alleged fraud tied to the Somali immigrant community in Minnesota.

President Donald Trump hosts a multilateral luncheon with African leaders, Wednesday, July 9, 2025, in the State Dining Room. (Official White House Photo by Daniel Torok)

White House May Task Banks with Reporting Client Citizenship Data

The White House may soon call on U.S. banks to collect and report citizenship data on their customers as part of the Trump administration’s crackdown on undocumented immigrants, according to new reporting by The Wall Street Journal.

Hurley Set to Exit Treasury Amid Dispute over Sanctions Policy

The top Trump administration official leading U.S. sanctions policy and the nation’s financial intelligence unit is set to exit the role amid friction with his boss, Treasury Secretary Scott Bessent.

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FinCEN Launches New Whistleblower Portal

The Financial Crimes Enforcement Network (FinCEN) has launched a dedicated portal to accept whistleblower tips on money laundering, fraud, and sanctions violations, the U.S. Treasury Department announced on Friday.

Iran's Supreme Ayatollah Khamenei on the anniversary of Eid al-Fitr of the Prophet of Mercy, Hazrat Mohammad Mustafa — “Khamenei.ir, ‘Meeting of different segments of the people on the anniversary of the mission of the Great Prophet (peace and blessings of Allah be upon him) 2 (khamenei.ir, 2026)’ (photo, taken Jan. 16, 2026), via Wikimedia Commons, licensed under Creative Commons Attribution 4.0 International (CC BY 4.0).”

U.S. Investigates Sharp Rise in Iran’s Crypto Activity

U.S. investigators are examining whether specific cryptocurrency platforms have helped Iranian officials and state-linked actors evade sanctions as crypto activity in Iran surges, a blockchain researcher with direct knowledge of Treasury’s concerns told Reuters.

Postcard that reads 'Greetings from Minneapolis' — Greetings from Minneapolis!

U.S. Launches New GTO, Probes Aimed at Minnesota Benefits Fraud Scandal

The U.S. Treasury Department on Thursday launched a set of initiatives to investigate what it called “rampant government benefits fraud” in Minnesota, including the imposition of new reporting requirements for financial institutions.

Trump Signs Order to Loosen Cannabis Regulations

President Donald Trump on Thursday signed an order directing the federal government to loosen marijuana regulations and accelerate a long-stalled effort to reclassify the drug, a step that could mark one of the biggest federal shifts on cannabis policy in decades, Reuters reported.

A smiling Scott Bessent sitting between a frowning Marco Rubio and Pete Hegseth.

Treasury Seeks ‘Gatekeeper’ Role in AML Penalties

The Trump administration is moving to give the U.S. Treasury Department’s financial intelligence unit a decisive say over how banks are punished for anti–money-laundering (AML) failures, according to new reporting by The Wall Street Journal.