FinCEN announced the launch of its Global Investigations Division, which will investigate and target terrorist finance and money laundering threats and work more closely with foreign counterparts to coordinate actions against such threats.

Federal financial regulators have issued a statement on risk-focused BSA/AML supervision intended to improve transparency into the risk-focused approach used for planning and performing BSA/AML examinations.

FinCEN issued guidance and an advisory relating to virtual currencies last week, affirming its regulatory frameworks, warning of threats posed by virtual currency misuse and consolidating current guidance, regulations and administrative rulings.

Credit unions can be key players in identifying suspected trafficking and aiding survivors.

FinCEN joined federal financial regulators, including NCUA, last week to issue a joint statement on sharing BSA resources that addresses the benefits of financial institutions entering into collaborative BSA/AML arrangements.

FinCEN has extended the Beneficial Ownership Rule’s limited exception for rollover and/or renewal of certain accounts for an additional 30 days. It will be in place up to and including Sept. 8.

FinCEN has issued a ruling to provide a 90-day limited exceptive relief to covered financial institutions from the obligations of the beneficial ownership requirements for for certain accounts, effective as of May 11.

FinCEN should continue to work with the financial services industry as any issued arise with implementation of its CDD rule arise, CUNA wrote for the record of a House subcommittee hearing Tuesday.

FinCEN's customer due diligence rule became effective Friday, and both CUNA and FinCEN have resources available for credit unions. The final rule clarifies and strengthens customer due diligence requirements for financial institutions..

With less than two weeks remaining before the FinCEN's customer due diligence becomes effective May 11, FinCEN has made its electronic CDD beneficial owner certification form available.