In letters dating back to 2016 and 2017, several financial institutions submitted requests for an exemption or interpretation regarding application of the customer identification program (“CIP”) to insurance premium finance ...
The Financial Crimes Enforcement Network (FinCEN), has issued responses to three FAQs regarding customer due diligence (CDD) requirements for covered financial institutions. The topics discussed include whether covered financial institutions ...
Four federal agencies (the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, and the Office of the Comptroller of the ...
On September 7, 2018, the Financial Crimes Enforcement Network (FinCEN) granted exceptive relief from the beneficial owner rule’s requirements to identify and verify the beneficial ownership of the legal entity ...
On April 3, 2018, the Financial Crimes Enforcement Network (FinCEN) issued Frequently Asked Questions to assist financial institutions with the Customer Due Diligence Requirements, which have a mandatory compliance date ...