The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rule Making (NPRM) proposing to expand the definition of "monetary instruments" subject to this reporting requirement to include "tangible prepaid access devices," which include prepaid cards issued by banks.
What does FinCEN stand for?
FinCEN stands for Financial Crimes Enforcement Network (US Treasury Department)
This definition appears very frequently and is found in the following Acronym Finder categories:
- Military and Government
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- Finance Committee
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Samples in periodicals archive:
The bank has since split its compliance department in two, hiring Bob Werner - former head of the US Treasury Department's Office of Foreign Assets Control and Financial Crimes Enforcement Network - as head of financial crime compliance and group money laundering reporting officer.
Department of the Treasury today announced that the Financial Crimes Enforcement Network (FinCEN) is repealing a final rule adopted on April 12, 2004 that required certain U.
To help financial institutions and advisors identify and report such problems, the Financial Crimes Enforcement Network (FinCEN) has issued a list of "red flags" to watch for.
The department's Financial Crimes Enforcement Network, Libya's sovereign wealth fund.
The Treasury's Financial Crimes Enforcement Network told banks to be aware of "the potential increased movement of assets that may be related to the situation in Libya," in a statement released Friday.
The Financial Crimes Enforcement Network (FinCEN), within the Department of the Treasury, supports law enforcement agencies (LEAs) in their efforts to investigate financial crimes by providing them with services and products, such as access to financial data, analysis, and case support.
Eugene Ludwig, CEO of Promontory Compliance Solutions said that the US Financial Crimes Enforcement Network in March levied its largest penalty ever ($110 million) against a financial institution for violations of the Bank Secrecy Act.