FinCEN Confers Law Enforcement Award to New York State PD and others
FinCEN has awarded the New York State Police Department for finding irregularities in fund deposits to catch a suspect dealing drugs with bitcoin. The Financial Crimes Enforcement Network (FinCEN) has conferred law enforcement awards to multiple law enforcement agencies including Internal Revenue Service – Criminal Investigation (IRS-CI), US Customs and Border Protection, Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the New York State Police Department. The recent press release by FinCEN offers more information about the cases for which these....
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The New York State Police won formal recognition this week for its work tracing bank deposits back to a number of drug deals conducted in bitcoin on an online dark market. The Financial Crimes Enforcement Network (FinCEN) presented an award to the New York State Police Suspicious Activity Review (SAR) Team and the New York State Police Financial Crimes Unit during an event held at the US Department of the Treasury in Washington, DC. In a statement to announce the award and five others, outgoing FinCEN director Jennifer Shasky Calvery spoke to the increasing sophistication of financial....
A former staffer of the United States Treasury's Financial Crimes Enforcement Network (FinCEN) will address the virtual currency community at the New York City Bar Association in Manhattan on Wednesday, August 13th. Thomas Fleming will be making an address at the Virtual Currencies Compliance Conference (also known as VC3) - an event hosted by the National Money Transmitters Association. Fleming is recognized as an expert on anti-money laundering and the Bank Secrecy Act, and previously worked as a banker for 22 years before taking a job with the federal government as an Assistant Director....
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory on Russian efforts to evade sanctions that includes a number of crypto-related red flags. However, the bureau admitted that it has not seen “widespread evasion” of its sanctions using cryptocurrency.
FinCEN Warns About Sanctions Evasion
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, issued an advisory Monday providing regulated financial institutions with “red flags on potential Russian sanctions evasion attempts.”
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The US Financial Crimes Enforcement Network (FinCEN) has reportedly been working with the Internal Revenue Service (IRS) to develop bitcoin training programs for tax examiners. During a speech given today at the ABA/ABA Money Laundering Enforcement Conference in Washington, DC, FinCEN director Jennifer Shasky Calvery said that the agency, one of several in the US with jurisdiction over elements of the bitcoin ecosystem, recently collaborated with the IRS to educate its examiners on relevant aspects of the technology. She remarked: "IRS has an extensive training program for its examiners,....
The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN, a bureau of the U.S. Department of the Treasury, issued a notice on Thursday regarding a new filing requirement for cryptocurrencies. FinCEN detailed: Currently, the Report of Foreign Bank and Financial Accounts (FBAR) regulations do not define a foreign account holding virtual currency as a type of....