Alive and well, maybe. . . . . . at FinCEN

Just when I was beginning to think the whole agency had gone AWOL, three new items appeared from FinCEN - two not so interesting and one to consider:

1.  Director Freis gave a very basic talk to the Association of Certified Fraud Examiners on July 13, 2009.  Really, if they didn't know this stuff already, they should look for another line of work.

2.  FinCEN announced that electronic filers of Suspicious Activity Reports can now get acknowledgment of their filings.  Makes you wonder what was happening to filings before.

3.  Here's the interesting item:  FinCEN Seeks Comments on AML Plan for Non-Bank Mortgage Lenders and Originators.  This is noteworthy first because they're still only proposing to make non-banks comply with AML requirements -- and second, for financial institution lawyers who have struggled with the paperwork burden for so long, we remark on this only because "misery loves company."

(ag) July 15, 2009, in BSA/AML