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7/31/2011 9:43:56 PM
FinCEN Offers E-Filing Webinar Training August 10

FinCEN E-Filing Informational Webinar Announced

The Financial Crimes Enforcement Network (FinCEN) is announcing that it will hold an informational Webinar on Wednesday, August 10, 2011, at 2:00 p.m. Eastern Time that will highlight to money services businesses (MSBs) the benefits of the Bank Secrecy Act Electronic Filing System (BSA E-Filing) and instruct MSBs on the simple process of signing up and using E-Filing.

On July 18, 2011, FinCEN announced that MSBs can now use the BSA E-Filing System to electronically submit initial registrations, renewals, corrections, and re-registrations electronically. MSBs can also electronically submit currency transaction reports and suspicious activity reports. Because E-Filing reduces the processing times, MSBs that file electronically will receive acknowledgement letters more quickly than do those that file on paper. .

Electronically filing BSA information increases the timeliness of BSA data availability, reduces the cost of paper processing, streamlines BSA report submissions, improves both data quality and data security, and provides users with enhanced audit and recordkeeping capabilities. The BSA E-Filing system is a free, Web-based system that is user-ID and password protected. Financial institutions may use the system to electronically file a variety of BSA forms through a FinCEN secure network. More importantly, when an institution submits a form through the E-Filing system, it is more quickly available to, and searchable by, law enforcement.

During this Webinar, FinCEN representatives will discuss the following topics:

  • Overview of the BSA E-Filing System;
  • BSA reports available for E-Filing;
  • Feedback reports available to E-Filers;
  • How to enroll in BSA E-Filing;
  • Single report or discrete filing; and
  • Multiple report or batch filing.

FinCEN strongly encourages MSBs that are still filing any paper forms to register for this Webinar. FinCEN's recent enhancements to BSA E-Filing support the U.S. Department of the Treasury's initiative of moving toward a paperless Agency, referred to in the Department's Open Government Plan. FinCEN is committed to making efficient use of technology, such as webinars, to better inform financial professionals and the public about its activities designed to better protect the financial system from criminal abuse.

BSA E-Filing 101 Webinar
Date: Wednesday, August 10, 2011
Time: 2:00 p.m. ET
After registering you will receive a confirmation email containing information about joining the

PC-based attendees will require: Windows® 7, Vista, XP, 2003 Server or 2000
Macintosh®-based attendees will require: Mac OS® X 10.4.11 (Tiger® or newer
Space is limited, so sign up now at

7/31/2011 10:15:05 PM
Natl Strategy for Counterterrorism June 2011

On June 29, 2011, the White House released the National Strategy for Counterterrorism as part of the President’s National Security Strategy. The principal focus of the counterterrorism strategy is on the network that poses the most direct and significant threat to the United States—al-Qa’ida, its affiliates, and its adherents. One of the specific goals of the strategy most closely tied to the counter-terrorist financing component of FinCEN’s mission is the U.S. Government’s efforts to deprive al-Qa’ida and its affiliates of their enabling means, including illicit financing.

8/24/2011 10:49:32 AM
Civil Money Penalty $10.9 Million Ocean Bank

August 22, 2011

Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network,
and the State of Florida Office of Financial Regulation Assess Civil Money Penalties
Against Ocean Bank
AFederal Deposit Insurance Corporation, the Financial Crimes Enforcement Network,
and the State of Florida Office of Financial Regulation Assess Civil Money Penalties
Against Ocean Bank

WASHINGTON, DC - The Federal Deposit Insurance Corporation (FDIC), the Treasury's Financial Crimes Enforcement Network (FinCEN), and the State of Florida Office of Financial Regulation (OFR) today announced the assessment of concurrent civil money penalties of $10.9 million against Ocean Bank, Miami, Florida, for violations of federal and state Bank Secrecy Act (BSA) and anti-money (AML) laundering laws and regulations. Ocean Bank, without admitting or denying the allegations, consented to payment of the civil money penalties, which was satisfied by a single payment to the U.S. Government.

In taking these actions, the FDIC, FinCEN, and OFR determined that the bank failed to implement an effective BSA/AML Compliance Program with internal controls reasonably designed to detect and report money laundering and other suspicious activity in a timely manner. The bank failed to conduct adequate independent testing, particularly with respect to suspicious activity reporting requirements. In addition, the bank failed to sufficiently staff the BSA compliance function with appropriately trained staff to ensure compliance with BSA requirements.

"Effective Bank Secrecy Act/anti-money laundering programs commensurate with the risk profile of the institution is paramount in protecting our financial system and individual banks from harm," said Sandra L. Thompson, Director, Division of Risk Management Supervision. "This penalty underscores the significance for banks to have strong internal systems and controls to detect and report suspicious activity and ensure compliance with Bank Secrecy Act requirements."

"The Bank failed to recognize and mitigate risks and report transaction activity often associated with money laundering involving direct foreign account relationships in high-risk jurisdictions, particularly Venezuela," noted FinCEN Director James H. Freis, Jr. "The Bank's failure to respond to such risk with commensurate systems and controls was both systemic and longstanding. The civil money penalties and forfeiture concludes joint investigations by FinCEN, the Drug Enforcement Administration, Internal Revenue Service-Criminal Investigation and the United States Attorney's Office for the Southern District of Florida, and parallel examinations conducted by the Federal Deposit Insurance Corporation and the Florida Office of Financial Regulation."

"The OFR will continue to monitor Ocean Bank's efforts to enhance its BSA/AML program," said Tom Cardwell, Commissioner of the Florida Office of Financial Regulation. "We are confident the bank is committed to be in full compliance with the letter and spirit of the Consent Order and Agreement."


Federal Deposit Insurance Corporation
Order to Pay Civil Money Penalty]

Financial Crimes Enforcement Network
Assessment of Civil Money Penalty]

State of Florida Office of Financial Regulation
Order to Pay Civil Money Penalty]

8/25/2011 12:12:37 PM
MSBs Reminder: Provide List of Agents to FinCEN


August 24, 2011

REMINDER - In a letter dated April 27, 2011, the Financial Crimes Enforcement Network (FinCEN) requested the list of agents from money services businesses (MSBs), who reported, in Part IV, Item 29 of the registration form that they have one or more agents authorized to conduct business on their behalf. The letters were sent to the Owner or Controlling Person, as reported to FinCEN, on its most current Form 107, Registration of Money Services Business (RMSB). Pursuant to our authority contained in 31 CFR § 1022.380(d), MSBs were required to send their agent list to FinCEN, by June 20, 2011. If an MSB reported it has agents on its RMSB and has not provided a list of its agents to FinCEN, please provide your list using the following template and email it to

If an MSB inaccurately filed its most current RMSB and does not have agents, we request that you respond, via email to noting that you do not have agents. You must also file a corrected RMSB. FinCEN recently announced that MSBs can now file RMSBs electronically. Accordingly, as the response due date for this request has passed, MSBs are strongly encouraged to file their corrected RMSBs electronically. The electronic RMSB can be used to file not only initial registrations, but also renewals, re-registrations, and corrections.

To file a correction, you will need the Document Control Number (DCN) that is noted in your original registration acknowledgement letter. DCNs can also be obtained by calling the IRS's Enterprise Computing Center at 866-270-0733. To file a corrected RMSB, access the BSA E-Filing System's website, at, complete the RMSB form in its entirety, paying particular attention to Part I of the form, by checking box "c" and either a, b, or d, as appropriate. Complete Part IV item 29 by recording a zero in each box where you previously reported agents. E-Filers will receive electronic notification of the transmission and receipt of the submission.

MSBs required to register with FinCEN must maintain a list of agents, and make the list of agents available to FinCEN, upon request. See 31 U.S.C. § 5330(c) and 31 CFR § 1022.380(d). Failure to comply with agent list obligations is a violation of money services businesses registration requirements of the Bank Secrecy Act (BSA) and its implementing regulations. See 31 U.S.C. § 5330(e) and 31 CFR § 1022.380(e). As administrator of the BSA, FinCEN may impose civil money penalties for failure to comply with BSA registration requirements, in an amount up to $5,000 per violation. Each day a violation continues constitutes a separate violation. See 31 U.S.C. § 5330(e) and 31 CFR § 1022.380(e).

If you have already responded to the above request, we appreciate your attention to this matter and there is no follow-up action necessary.

9/2/2011 4:22:48 PM
Informational MSB Webinar 9/15/2011

Informational Webinar Announced
On FinCEN's Money Services Businesses Final Rule

The Financial Crimes Enforcement Network (FinCEN) today announced that it will hold an informational webinar on Thursday, September 15, 2011, from 3:00 to 4:00 p.m. EDT that will highlight the new regulatory requirements of the final rule, the intent and purpose of the rule and the regulatory expectations.

On July 21, 2011 FinCEN published "Definitions and Other Regulations Relating to Money Services Businesses" (76 FR 43585) ("The MSB Final Rule") in the Federal Register. This MSB Final Rule revises the definitions to clarify what activities subject a person to the BSA rules pertaining to MSBs. The final rule ensures that certain foreign-located MSBs with U.S. customers are subject to the BSA rules. The rule also updates the MSB definitions to reflect past guidance and rulings, current business operations, evolving technologies, and merging lines of business.

During the Webinar, FinCEN representatives will discuss:

  • the MSB Final Rule;
  • the intent and rationale behind the rule;
  • FinCEN's regulatory expectations.

MSB Final Rule Webinar
Date: Thursday, September 15, 2011
Time: 3:00-4:00 p.m. EDT

PC-based attendees will require: Windows® Server 2003 or newer
Macintosh®-based attendees will require: Mac OS® X 10.4.8 or newer
here for a full list of system requirements.
This Webinar does not have a registration process.
When it is time for the Webinar to begin, attendees should join by navigating to the following link:

9/2/2011 4:26:21 PM

Ocean Bank (“Ocean Bank&rdquo, the largest privately-owned state-chartered commercial bank headquartered in Florida, has entered into a deferred prosecution agreement (“the Agreement&rdquo with the U.S. Attorney’s Office in the Southern District of Florida to resolve charges that it willfully failed to establish an anti-money laundering program. Today’s Agreement is the result of an investigation into Ocean Bank’s handling of several of its customers’ accounts that included transactions involving Mexican currency exchange houses, commonly known as “casas de cambio” (“CDCs&rdquo, announced Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, Mark R. Trouville, Special Agent in Charge, Drug Enforcement Administration (“DEA&rdquo, Miami Field Division, Jose A. Gonzalez, Special Agent in Charge, Internal Revenue Service, Criminal Investigation Division (“IRS-CID&rdquo, Fred A. Maas, Chief, Sunny Isles Beach Police Department James H. Freis, Jr., Director, Financial Crimes Enforcement Network (“FinCEN&rdquo , Sandra L. Thompson, Director, Division of Risk Management Supervision, Federal Deposit Insurance Corporation (“FDIC&rdquo, and Tom Cardwell, Commissioner, Florida Office of Financial Regulation (“OFR&rdquo.

Click here:

9/6/2011 2:21:59 PM
FinCEN Releases Identify Theft Report

FinCEN Examines Identity Theft-Related Suspicious Activity
Reports Filed by Securities & Futures Firms
Trends in Illicit Activity Uncovered


VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today released its analysis of identity theft suspicious activity reports (SARs) filed by securities and futures firms that shows identity thieves prefer to use stolen account identifiers to take over existing legitimate investment accounts rather than to set up new unauthorized accounts.

This is one of several trends uncovered in FinCEN’s analysis Identity Theft Trends, Patterns, and Typologies based on suspicious activity reports filed by securities and futures industry firms (SAR-SF). The report examined a sample of the more than 10,000 identity theft SAR-SFs submitted between 2005 and 2010, representing more than a tenth of all SAR-SFs filed during that period.

“The analysis illustrates how through the review of SARs, FinCEN can spot criminal patterns that help an investigation and lead to holding criminal actors accountable for their actions,” said FinCEN Director James H. Freis, Jr. “This report contains information that provides a window into the type of activities identity thieves undertake, of which financial institutions should be aware in order to protect their customers and the financial system from criminal abuse.”

Key findings from the report include the following:

  • Identity thieves most often stole individual and account identifiers through computer intrusion, physical theft, or phishing and vishing scams. Thieves then attempted to use the stolen identifiers to initiate unauthorized transactions within existing accounts or to set up new accounts.
  • During most of the study period, identity thieves reportedly preferred to take over existing legitimate investment accounts rather than to set up new unauthorized accounts using stolen identifiers. This preference appears to relate to the greater level of scrutiny investment firms place on new accounts compared to the level placed on existing accounts.
  • While most SAR-SFs reported the direct theft of funds from existing accounts, there was also a high reported incidence of share price manipulation. For instance, between the fourth quarter of 2006 and the first quarter of 2008, 20-40 percent of quarterly filings reported attempts to manipulate the share values of thinly-traded securities with funds stolen from the investment and/or depository accounts of identity theft victims.
  • Filers frequently reported more than one victim per filing after the same bank account number, phone number, Internet protocol (IP) address, media access control (MAC) address, physical address, and/or email address was used to facilitate theft from multiple victims. Overall, nearly 8 percent of filings reported attacks from the same IP address on accounts of multiple victims.
  • Wire fraud was co-reported with identity theft in nearly 53 percent of the relevant sample filings. Virtually all SAR-SFs co-reporting wire fraud described unauthorized Automated Clearing House (ACH) transfers.
  • Identity thieves used checks to promote financial fraud in nearly 16 percent of sample filings. While the general public’s use of checks is declining, the trend in reports of thieves’ check use increased modestly. Just over 6 percent of filings reported identity thieves used debit cards to steal funds. Debit card usage by identity thieves and dollar loss trends moved strongly up.

As part of the analysis, FinCEN reached out to representatives of the Bank Secrecy Act Advisory Group (BSAAG) Securities and Futures Subcommittee for input regarding the types of information industry would find most useful.

The report is FinCEN’s second covering identity theft. The first report, released in October 2010, focused on a sample of the much larger population of identity theft SAR filings by depository institutions. The average number of subjects named in SAR-SFs was lower than the average number named in SARs filed by depository institutions, likely because most investment transactions, whether legitimate or otherwise, are initiated and completed online, by phone, fax, or mail and rarely involve face-to-face contact with investment industry employees. In contrast, depository institution branch personnel are more likely to experience periodic face-to-face contact with the majority of their branch customers and other individuals intending to complete financial transactions.

9/14/2011 6:53:52 PM
OFAC August 2011

OFAC Enforcement Actions and List Changes

August 2011



Recent OFAC Actions (Visit OFAC Link)

08/30/2011 Syria Designations

08/26/2011 Routine update of list of Travel and Carrier Service Providers and Remittance Forwarders​​

08/25/2011 Release of Civil Penalties Information - JPMorgan Chase Bank, N.A. Settlement

08/19/2011 Release of quarterly TSRA report​​

08/18/2011 Syria General Licenses Issued

08/18/2011 Syria Executive Order and Identifications

08/16/2011 Release of OFAC Civil Penalties Information​​

08/16/2011 Anti-terrorism Designations

08/11/2011​​ Belarus Designations

08/10/2011 Non-proliferation Designations; Government of Iran Listing Update; Iranian Financial Sanctions Regulations Identifications Update.

08/04/2011 Frequently Asked Questions Regarding Private Relief Efforts in Somalia

08/04/2011​​ Syria Designations

08/03/2011​​ Anti-narcotics Designation Removals





OFAC Enforcement Actions

ENTITIES – 31 CFR 501.805(d)(1)(i) Norton Lilly International Assessed a Penalty for Violating the Iranian Transactions Regulations: Norton Lilly International (“Norton&rdquo, Mobile, AL, has been assessed a penalty of $18,750 for its violation of the Iranian Transactions Regulations, 31 C.F.R. part 560, that occurred in November 2006. 


CMA CGM (America) LLC Settles Multiple Sanctions Program Allegations: CMA CGM (America) LLC (“CCA&rdquo, Norfolk, VA, has remitted $374,400 to settle allegations of violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515, the Iranian Transactions Regulations, 31 C.F.R. part 560, and the Sudanese Sanctions Regulations, 31 C.F.R. part 538, occurring between approximately December 2004 and April 2008. The base penalty amount for the alleged violations totaled $640,000. The settlement amount reflects OFAC’s consideration of the following General Factors under OFAC’s Economic Sanctions Enforcement Guidelines: the alleged violations appear to have resulted from a pattern of conduct over a period of approximately three years;  given the size and scope of CCA’s operations and the nature of its international business, it appears to have lacked an adequate compliance program to avoid U.S. sanctions violations; some of the goods exported from third countries to Cuba and Iran may have qualified as agricultural/medical products under the Trade Sanctions Reform and Export Enhancement Act of 2000 and, thus, may have been eligible for a license; CCA and CMA CGM have undertaken remediation to ensure that such alleged violations do not recur; CCA had not been the subject of OFAC penalties within the past five years; and CCA cooperated with OFAC throughout the investigation, including by requesting the cooperation of CMA CGM and its foreign affiliates in gathering relevant transaction data, and by agreeing to toll the statute of limitations.


Société Générale, New York Settles Allegations of Violations of the Iranian Transactions Regulations: Société Générale New York Branch, New York, NY (“SGNY&rdquo has remitted $111,359 to settle allegations of violations of the Iranian Transactions Regulations, 31 C.F.R. part 560 (the “Regulations&rdquo occurring on or about December 27, 2006, and on or about May 9, 2007. OFAC alleged that SGNY dealt in Iranian-origin services and/or facilitated transactions by a foreign person where the transactions by the foreign person would have been prohibited by the Regulations if performed by a United States person. Specifically, OFAC alleged that SGNY, as the issuing bank of two letters of credit between two non-sanctioned parties, processed two payments under those letters of credit involving the shipment of cargo transported aboard vessels owned and/or managed by the Islamic Republic of Iran Shipping Lines of Tehran, Iran, an Iranian entity. The value of the payments was $329,954. SGNY voluntarily self-disclosed the alleged violations and OFAC has determined that the alleged violations constituted a non-egregious case. The base penalty amount for the alleged violations was $164,977. The settlement amount reflects OFAC’s consideration of the following General Factors under OFAC’s Economic Sanctions Enforcement Guidelines: SGNY improved its compliance program in response to the apparent violations by enhancing its internal controls related to screening trade finance transactions, and provided additional training to staff involved in processing such transactions; SGNY cooperated with OFAC’s investigation and resolution of this matter; and OFAC has not issued a penalty notice or Finding of Violation against SGNY in the five years preceding the transactions at issue.


Heritage Turbines, Inc. Settles Sudanese Sanctions Violation Allegation: Heritage Turbines, Inc., Hyannis, MA (“Heritage&rdquo has remitted $4,500 to settle an alleged violation of the Sudanese Sanctions Regulations, 31 C.F.R. part 538, occurring on or about November 21, 2007. OFAC alleged that Heritage attempted to ship two fuel nozzle kits to Sudan without an OFAC license. The fuel nozzle kits were valued at a total of $2,000. OFAC determined that Heritage did not voluntarily self-disclose this matter to OFAC and the alleged violation constituted a non-egregious case. The base penalty amount for the alleged violation totaled $10,000. The settlement amount reflects OFAC’s consideration of the following General Factors under OFAC’s Economic Sanctions Enforcement Guidelines: Heritage had no history of sanctions violations and cooperated with OFAC’s investigation of this matter.


JPMorgan Chase Bank N.A. Settles Apparent Violations of Multiple Sanctions Programs: JPMorgan Chase Bank, N.A, New York, NY (“JPMC&rdquo has agreed to remit $88,300,000 to settle potential civil liability for apparent violations of: the Cuban Assets Control Regulations (“CACR&rdquo, 31 C.F.R. part 515; the Weapons of Mass Destruction Proliferators Sanctions Regulations (“WMDPSR&rdquo, 31 C.F.R. part 544; Executive Order 13382, “Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters;” the Global Terrorism Sanctions Regulations (“GTSR&rdquo, 31 C.F.R. part 594; the Iranian Transactions Regulations (“ITR&rdquo, 31 C.F.R. part 560; the Sudanese Sanctions Regulations (“SSR&rdquo, 31 C.F.R. part 538; the Former Liberian Regime of Charles Taylor Sanctions Regulations (“FLRCTSR&rdquo, 31 C.F.R. part 593; and the Reporting, Procedures, and Penalties Regulations (“RPPR&rdquo, 31 C.F.R. part 501, that occurred between December 15, 2005, and March 1, 2011.

9/14/2011 6:57:44 PM
314a Fact Sheet August 2011

Examples of 314(a) requests, based on money laundering, include:

• Hawala operation involving a sanctioned country

• Arms trafficking

• Alien smuggling resulting in fatalities

• Cigarette smuggling

• Nationwide investment fraud with many victims

• International criminal network involved in identity theft and wire fraud

• Multi-agency investigation of drug trafficking rings


To date, the 314(a) Program Office has processed 1,507 requests pertinent to the following significant criminal investigations:

Terrorism/Terrorist Financing – 375 cases

Money Laundering – 1,132 cases


9/14/2011 6:59:34 PM
314a Point of Contact Change Info Sept 2011

The following items must be provided to update or add your financial institution’s POC information: financial institution name and charter number or other identifier; point of contact name and title, mailing (street number, P.O. Box, city, state and zip code) and e-mail addresses; and telephone and facsimile numbers.

Please find your institution’s primary federal regulator or self regulatory organization in the below list and forward the above information to them.

Board of Governors of the Federal Reserve System
For Point of Contact Changes or Additions:
e-mail: or
fax: (202) 736-5641
Questions: Cheryl Paret, Senior Financial Analyst at (202) 452-3675 or Jennifer White, Senior Financial Analyst at (202) 452-3964

Commodity Futures Trading Commission
Contact information:
Fax: (202) 418-5528
Questions: Helene D. Schroeder, Special Counsel, Division of Clearing and Intermediary Oversight at (202) 418-5424

Federal Deposit Insurance Corporation
Contact information:
All changes must be made by the bank through the quarterly Call Report or by filing an amended Call Report
(800) 688-FDIC; (800)688-3342
Fax: (202) 898-3627
Questions: Anti-Money Laundering Section at (202) 898-6783

Financial Industry Regulatory Authority
Contact information:
For changing POCs or adding a new contact, a FINRA member must update its Anti-Money Laundering Compliance Contacts through the FINRA Contact System at the link below. Each Anti-Money Laundering Compliance Contact (Primary and Alternate) will be added to the FinCEN distribution list.
Questions: Gateway Call Center at (301) 869-6699

National Credit Union Administration
Contact information:
All changes must be made in the online credit union profile by updating the Primary and Secondary Patriot Act contact on the Contacts Tab. Manual filing federal credit unions should contact their NCUA district examiner to update this information. Manual filing state credit unions should contact their state regulator to have this information updated.

Questions - Federal Credit Unions:
Contact your NCUA district examiner. If you cannot locate your examiner, contact the NCUA regional office that oversees your state. NCUA regional office contact information is posted on the NCUA Website From the NCUA home page, select Contact Us and scroll to the bottom of the page. Email and telephone contact information is shown for each region. A direct link follows: If you are unsure which region supervises your state, click on the region's name and a list of supervised states will be shown.

Questions - State Chartered Credit Unions:
Contact your state regulator. Links to the Web sites of many state regulators are included on NCUA's web site, From the NCUA home page, select Other Resources; then select Financial Regulators. A direct link follows:

National Futures Association:
Contact Information:
Fax: (312)559-3419
Questions: Valerie Kretschmer, Compliance Department at (312) 781-1290

Office of the Comptroller of the Currency
All changes must be made through the quarterly Call Report or by filing an amended Call Report.
Fax: (202) 874-5301
Additional Information: OCC Alert 2004-6
Questions: James F. Vivenzio, Senior Counsel for BSA/AML at (202) 874-5200.

Savings Associations supervised by the Federal Deposit Insurance Corporation or Comptroller of the Currency (formerly supervised by the Office of Thrift Supervision)
All FinCEN Point of Contact changes must be made using the EFS (the OTS Electronic Filing Software).
EFS Instructions: "314(a) Contact Updates":
To e-mail questions about point of contact changes or additions, the OTS mailbox will remain active: Mail

9/14/2011 7:01:30 PM
Law Enforcement Info Sharing with FI's 9/6/11

See report at the following link:

12/16/2011 8:39:30 PM
CMP $25,000 Bank Employee FinCEN Assesses

FinCEN Assesses Civil Money
Penalty for Suspicious Activity Report Disclosure

Bank Employee Unlawfully Revealed
Existence of SAR to Subject of the Report

VIENNA, Va. - The Financial Crimes Enforcement Network (FinCEN) today
announced the assessment of a $25,000
money penalty
against Frank Mendoza of Garden Grove, California, for violating Bank
Secrecy Act (BSA) prohibitions against disclosing suspicious activity reports
("SARs"). FinCEN determined that Mendoza violated the BSA and its implementing
regulations by willfully disclosing the existence of a SAR to a person involved
in the reported transaction. Mendoza was convicted in a criminal case of bribery
and unlawful SAR disclosure in the U.S. District Court for the Central District
of California.
FinCEN is executing this Assessment
of Civil Money Penalty without the consent of Mendoza.

"FinCEN should and
will exercise its authority to assess a civil money penalty against any person
clearly involved in the unauthorized disclosure of a SAR," said FinCEN Director
James H. Freis, Jr. "Imposition of civil money penalties against persons
willfully disclosing the existence of a SAR defends the environment of trust
between the government and financial institutions, ensures that financial
institution personnel can report activity without fear of reprisal by subjects
identified in reports, and protects the integrity of the information reported on
SARs as well as any future or ongoing investigations."

The evidence
established that Mendoza contacted the subject of a bank SAR, disclosed
existence of the report, and extracted bribes from the subject in return for
Mendoza's promise to assist the subject with any ensuing bank proceedings or
Federal criminal investigation. Today's action resulted from coordination
between FinCEN, the Federal Bureau of Investigation, and the U.S. Attorney's
Office for the Central District of California.

12/17/2011 8:37:04 PM

The Anti-Money Laundering Association is excited to partner and introduce Verafin, a North American leading provider in Anti Money Laundering and fraud detection solutions. Many of you may benefit from their services; adding value to your organization’s BSA/AML program. Please take a minute to read a brief summary, testimony, and be sure to visit their website.

Testimonial: The AMLA Advisory Board Director, Susan A. deFreese, SVP/Chief Compliance Officer-CRA & SAFE Act Officer at Old Florida National Bank shares her personal experience regarding Verafin and their unique BSA/AML monitoring solution.

"We are very pleased with Verafin; our external auditors & regulators were as well. Verafin provides outstanding service along with an extraordinary BSA/AML monitoring solution".

Verafin helps financial institutions comply with the Bank Secrecy Act, USA PATRIOT Act, and FACTA regulations, while also helping to protect against fraud. Verafin is the exclusive provider of BSA/AML and fraud detection software for the California Bankers Association, Massachusetts Bankers Association, CUNA Strategic Services and 40 credit union leagues and associations in the United States.


Verafin is a North American leader in anti-money laundering and fraud detection solutions for financial institutions, with nearly 800 customers that span more than 65 core processing systems and a broad asset range.


Verafin is a complete BSA/AML and fraud detection software solution that examines the data in your financial institutions’ core banking system. Suspicious activity is isolated from normal activity and assigned a risk score based on the level of danger it presents to your institution. Alerts contain clear evidence to help you understand why the activity is considered suspicious and quickly determine if further investigation is required.


And as a complete BSA/AML solution, Verafin is not limited to suspicious activity alerts. Verafin brings together: 

  • Consolidated AML/Fraud Alerts

  • Customer Risk Scoring

  • Compliance Reporting including CTRs and SARS

  • Watch List Scanning

  • Enterprise-wide Case Management and Investigation

  • Third-Party Vendor Management

  • Core System Integration

  • Wire Integration

And so much more!


Contact Information


Gord Caines


Phone: 866.781.8433


For more information, visit our website at

1/17/2012 7:32:42 PM
Secret Service Numbers-Florida Counterfeit Bills

If you need to verify a note here are some numbers for the local field offices in Florida.


  • FORT MYERS 239-334-0660
  • JACKSONVILLE 904-296-0133
  • MIAMI 305-863-5000
  • ORLANDO 407-648-6333
  • TALLAHASSEE 850-942-9523
  • TAMPA 813-228-2636
  • WEST PALM BEACH 561-659-0184
2/16/2012 6:41:56 PM
OFAC Penalties





Teledyne Technologies, Inc. Settles Sudanese Sanctions Regulations Allegations:


Teledyne Technologies Incorporated and its subsidiary, Teledyne RD Instruments, Inc. ("Teledyne"), have agreed to pay $30,385 to settle allegations of violations of the Sudanese Sanctions Regulations, 31 C.F.R. part 538, occurring on or about March 9, 2007 and November 30, 2007. OFAC alleged that on two occasions, Teledyne indirectly exported Acoustic Doppler Current Profilers ("ADCP") to Sudan valued at $122,766. The base penalty amount for the alleged violations was $61,383. OFAC determined that Teledyne voluntarily self-disclosed this matter to OFAC and the alleged violations constitute a non-egregious case. The settlement amount reflects OFAC’s consideration of the following facts and circumstances, pursuant to the General Factors under OFAC’s Economic Sanctions Enforcement Guidelines, 31 C.F.R. part 501, App. A: Teledyne has no history of prior OFAC violations; the exports of the ADCPs caused minimal harm to sanctions programs objectives; and Teledyne took appropriate remedial action upon learning of the potential OFAC violations.

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