VIEWpoint Issue 1 | 2023
2023 Compliance Trends: Staying Ahead in an Evolving Regulatory E...
2023 Tax Calendar
On March 16, 2020, the Financial Crimes Enforcement Network (FinCEN) issued a press release advising financial institutions to be alert to potential illicit behavior and fraud associated with COVID-19. FinCEN identified four emerging troubling trends:
FinCEN indicated that for suspected suspicious transactions linked to COVID-19, along with checking the appropriate suspicious activity report-template (SAR-template) box(es) for certain typologies, financial institutions should enter “COVID19” in Field 2 of the SAR-template.
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