The Financial Crimes Enforcement Network (FinCEN) recently released three announcements relating to FinCEN compliance. 

The Financial Crimes Enforcement Network (FinCEN), as part of its efforts to make the administration of the Bank Secrecy Act (BSA) more efficient and effective, has published a proposal to simplify its rules and regulations by centralizing them in a single new chapter of the Code of Federal Regulations (CFR).  

The Financial Crimes Enforcement Network has proposed to simplify its rules by streamlining BSA regulations into general and industry-specific parts in an attempt to allow financial institutions to identify BSA obligations “in a more organized and understandable manner.”

The American Bankers Association (ABA) has released a set of recommended policy changes with regard to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) enforcement.