FinCEN

U.S. officials have linked two prominent figures in English polo to an alleged scheme to launder proceeds from the illicit sale of Venezuelan oil, according to a Financial Times report that cited a recent Treasury Department notice about the now-defunct Swiss lender MBaer Merchant Bank.

FinCEN said Tuesday it has expanded a geographic targeting order (GTO) along the Southwest border, extending the measure into New Mexico for the first time and adding Maricopa and Pima counties in Arizona.

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. 

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.

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.

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. 

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.

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. 

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.

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.