Financial institutions operate in an environment where trust, compliance, and fraud prevention are inseparable. To protect the financial system from money laundering, terrorist financing, and identity ...

Regulators on Friday issued an order exempting banks from the requirement to collect taxpayer identification numbers, or TINs, directly from customers before opening an account under the Customer ...

The SEC is proposing a new customer identification program on the heels of the Treasury Department’s February 2024 proposal to stem potential money laundering. The program would require RIAs and ...

LPL Financial failed to follow its own anti-money laundering procedures for client identification across more than 12,000 accounts over nearly five years, according to the SEC. "Federal law requires ...

The American Fintech Council, an association representing Fintech companies and BaaS banks, has submitted a response to the US Department of Treasury, Financial Crimes Enforcement Network (FinCEN) ...