FinCEN

UBS Financial Services Pays $125M To Settle FinCEN Charges of BSA Violations

By the Constantine LLP Whistleblower Team On August 3, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that UBS Financial Services Inc. would pay $125 million for violating the Bank Secrecy Act (BSA).[1]  It is the largest penalty ever imposed against a broker-dealer for BSA violations.

How Did UBS Violate the Bank Secrecy Act?

The BSA is the principal U.S. statute that...

Constantine Cannon Submits Comments to Proposed Rulemaking for FinCEN AML/Sanctions Whistleblower Program

By the Constantine Cannon Whistleblower Team As we previously reported, two months ago the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a press release announcing its Notice of Proposed Rulemaking “to fully implement” FinCEN’s AML/Sanctions Whistleblower Program.

What is the FinCEN AML/Sanctions Whistleblower Program?

Congress established the FinCEN Whistleblower Program...