US PROPOSES PILOT PROGRAMME ALLOWING BANKS TO SHARE REPORTS OF SUSPICIOUS ACTIVITY WITH FOREIGN AFFILIATES

On 2 February, Kharon reported that FinCEN (FinCEN) recently proposed a 3-year pilot programme that would allow a financial institution to share reports of suspicious activity with foreign branches, subsidiaries and affiliates, to combat illicit finance risks.  

https://brief.kharon.com/updates/us-proposes-pilot-program-allowing-banks-to-share-reports-of-suspicious-activity-with-foreign-affiliates

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017