FinCEN Encourages Financial Institutions to Communicate Concerns Related to Coronavirus
By Samuel Pizzichillo
In response to COVID-19, the Financial Crimes Enforcement Network (FinCEN) has requested that financial institutions contact FinCEN and their regulatory authority with concerns or potential delays in reporting pursuant to the Bank Secrecy Act.
How to Contact FinCEN:
FinCEN also warns financial institutions to stay on alert for fraudulent transactions such as:
- Imposter scams attempting to solicit donations or steal personal information
- Investment and product scams where false claims of prevention, detection, or cures for coronavirus are made
- Suspected insider trading
The full release can be found here.