The SEC on September 29, 2026, announced fraud charges against two clusters of entities alleged to have defrauded hundreds of retail investors, including many in the United States, out of at least $15.3 million through what the agency calls “investment
On September 9, 2026, the U.S. Department of the Treasury announced that its Financial Crimes Enforcement Network (“FinCEN”) has identified approximately $17.5 billion in suspicious financial activity potentially linked to health care fraud. The announcement accompanied the release of a
On September 2, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) reissued its Geographic Targeting Order (GTO) aimed at money services businesses (MSBs) along the U.S. southwest border. The GTO requires certain MSBs in designated border
The Financial Crimes Enforcement Network (“FinCEN”) has proposed to revoke Banque Misr UAE’s (the “Bank”) correspondent banking access to U.S. financial institutions, finding that that the Bank is a financial institution operating outside of the U.S. and is of primary
Banks and their employees face a difficult balancing act when discussing suspected fraud or money laundering activity with a customer on whose account activity the bank has filed a suspicious activity report (SAR). The bank must take practical steps to
On August 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) renewed its Geographic Targeting Order (“GTO”) Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota. The GTO requires financial institutions located in Hennepin
On July 13, a divided Ninth Circuit panel upheld a lower court order that barred enforcement of FinCEN’s border Geographic Targeting Order (“GTO”). The GTO would have forced money services businesses (“MSBs”) in 30 ZIP codes along the U.S.-Mexico border
In an alert issued this July, FinCEN urged banks and other financial institutions to increase their focus on detecting, preventing, and reporting fraud schemes targeting federal student aid (“FSA”) programs. The alert provides specific red flags for identifying suspicious activity—and
On June 30, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued an alert (the “Alert”), alongside a press release, outlining efforts to combat fiscal fuel theft (known in Mexico as “huachicol fiscal”) along the
This Summer, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an advisory urging financial institutions to heighten their vigilance for risks tied to the unlawful employment of non-work-authorized individuals. The advisory highlights the increasingly prevalent role of
