Overview of FinCEN's Enforcement Against Money Services Businesses and Use of Geographic Targeting Orders

This webinar will cover the agency's current enforcement climate for NBFIs, provide detail on recent enforcement actions against MSBs including money transmitters, virtual currency exchanges, and individuals; and discuss FinCEN’s use of GTOs. This webinar will also provide lessons learned and key themes drawn from FinCEN's increase in enforcement actions against NBFIs and its use of GTOs.

Why Should You Attend:

In recent years, FinCEN has increased its BSA enforcement against non-bank financial institutions (NBFIs) and expanded its use of other enforcement authorities. By explaining how NBFIs, primarily, MSBs, violated the BSA, this presentation will help personnel, especially those who implement BSA/AML programs at MSBs, to better understand how to comply with the BSA and avoid being sanctioned by FinCEN.

FinCEN has also used GTOs to target specific industries and geographic areas for additional reporting. Attendees will learn more about the significance of these orders and how they benefit law enforcement. This webinar will also be useful to all those responsible for BSA programs at financial institutions to learn about trends in FinCEN enforcement.

Areas Covered in the Webinar:

FinCEN’s recent enforcement actions against:

• money transmitters
• check cashers
• virtual currency exchanges
• individuals
• FinCEN’s use of GTOs targeting cash couriers
• FinCEN’s use of GTOs targeting high-end real estate
• FinCEN’s use of GTOs targeting other industries
• Themes in FinCEN’s recent enforcement actions

Who Will Benefit:

• BSA/AML Compliance Officers at banks and MSBs
• Front Line BSA/AML Staff
• Internal and Independent Auditors
• Bank and MSB Staff with Roles and Responsibilities in BSA/AML Management and Oversight
• Risk and Compliance Management
• Consultants in the AML/BSA Industry specializing in MSBs