Notices to Members

2022 | 2021 | 2020 | 2019 | 2018 | Show more years

Notice I-22-12

March 23, 2022

FinCEN issues additional alert regarding the importance of identifying and quickly reporting suspicious transactions involving Russian elites and their proxies

On March 16, 2022, the Financial Crimes Enforcement Network (FinCEN) issued an additional alert on the importance of all financial institutions identifying and quickly reporting any suspicious transactions involving assets of sanctioned Russian elites and their proxies. The alert also reminds futures commission merchants (FCM) and introducing brokers (IB) of their general AML program obligations and specifically highlights customer due diligence (CDD) requirements which may facilitate the identification of a legal entity owned or controlled by a foreign politically exposed person (PEP). Additionally, FinCEN's alert reminds FCMs and IBs to comply with their general due diligence obligations for correspondent accounts. A copy of the alert is available on FinCEN's website.

Subscribe to NFA Email Communications