Gain an understanding of AML-related regulatory and compliance obligations and FinCEN's role in combating illicit activity.
This presentation will provide a high-level overview of the Financial Crimes Enforcement Network (FinCEN), its role within the U.S. financial system, and how it interacts and coordinates with other financial regulators. The presentation will describe FinCEN's statutory authority and its rulemaking processes, as well as Bank Secrecy Act-related obligations imposed on financial institutions. The topic will also cover recent enforcement actions brought by FinCEN. Lastly, the presentation will discuss FinCEN's role in the digital-asset sector and highlight recent initiatives such as FinCEN's beneficial ownership registry and its whistleblower program. After this presentation, you will have a deeper understanding of AML-related regulatory and compliance obligations for Financial Institutions. You will gain a critical understanding of how FinCEN interacts with other federal financial regulators to combat illicit activity in the U.S. financial system. You will also be able to identify enforcement trends, with a particular emphasis on the digital assets space.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
What Does FinCEN Do and How Is It Organized?
- Overview of FinCEN and How It Fits Within the Broader Anti-Money Laundering (AML) Framework, Including Its Relationship With Other Financial Regulators
- Discussion of How FinCEN Is Organized and the Main Responsibilities of Its Various Divisions
FinCEN's Authority
- Issues Regulations Pursuant to Statutory Authority
- Enforces Compliance With Statutes and Regulations, Including the Bank Secrecy Act and Implementing Regulations
- Supports Law Enforcement Investigations and Prosecutions
- Shares Information and Coordinates With Foreign Financial Intelligence Units Around the World
- Section 311/Section 9714/Geographic Targeting Orders
FinCEN Requirements on Banks and Other Financial Institutions
- Compliance Programs
- SAR Filing Obligations
- CTR Filing Obligations
- Data Management
Overview of Recent Enforcement Actions
- General Overview
- FinCEN's August 2020 Statement on Enforcement of the Bank Secrecy Act
- In the Matter of Bittrex, Inc.
- In the Matter of USAA Federal Savings Bank
- Potential Virtual Currency-Related Future Enforcement Actions
Hot Topics and Recent Developments
- Whistle-Blower Program
- BOI Registry
- CDD
- Virtual Currencies and FinCEN's Outlook
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 22, 2023.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 65 Minutes.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Alessio D. Evangelista
Skadden, Arps, Slate, Meagher & Flom LLP
- Partner, Litigation; Financial Institutions; White Collar Defense and Investigations
- Advises global financial services companies on compliance, enforcement, and internal investigations involving anti-money laundering (AML), economic sanctions, and related issues
- His clients range from global banks and investment management companies to fintech firms and companies managing and investing in cryptocurrencies and other digital assets
- Previously held several government positions, including at FinCEN – U.S. Department of the Treasury: Head of Enforcement and Compliance; U.S. Department of Justice - Deputy Chief, Bank Integrity Unit, Money Laundering, and Asset Recovery Section; and Principal Assistant U.S. Attorney, U.S. Attorney’s Office for the District of Columbia
- Frequent speaker on AML, financial crimes enforcement, and regulatory developments
- Has participated as a keynote speaker or panelist at conferences such as the ABA/ABA Financial Crimes Enforcement Conference and the ACAMS Annual AML & Anti-Financial Crime Conference, as well as events hosted by Chainalysis, the Institute of International Bankers, the Federal Bar Association of New York and the Practising Law Institute
- J.D. degree, summa cum laude, Syracuse University College of Law; B.A. degree, SUNY Geneseo
- Can be contacted at [email protected] or 202-371-7170
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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