Quarterly BSA Enewsletter
NAFCU's BSA Blast is a NAFCU member-only quarterly enewsletter offering coverage and analysis of credit union compliance issues and industry activity concerning the Bank Secrecy Act (BSA) and Treasury's Office of Foreign Assets Control (OFAC) regulations.
The Third Quarter issue is available now!
In This Issue
FinCEN Announces $100M Enforcement Action Against Unregistered Futures Commission Merchant
In order to prepare for upcoming changes to BSA/AML rules and requirements, FinCEN collects data from the industry in a recent advanced notice of proposed rulemaking on beneficial ownership requirements and a request for information on model risk management.
SAR Filing Trend Data Updated to Include 2020 Data
This article highlights recent updates to FinCEN’s Interactive SAR Stats page which now shows filing trend data by industry. Read a summary of these recent updates including credit union specific trends.
FinCEN recently published a notice about a rise in online child sexual exploitation. Find a summary of the guidance for filing these kinds of SARs.
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