Floridas Bankers and FinCEN Focus on Anti-Money-Laundering and USA PATRIOT Act

Friday 6 February 2004 15:11 CET | News

The money laundering regulatory and enforcement fields will join the financial industry for a two-day conference organized by the Florida International Bankers Association (FIBA), in Miami, on March 11 and 12.

Bankers, broker dealers, and money transmitters will hear from regulators, attorneys, and compliance officers, including William J. Fox, the newly appointed Director of the Treasury Departments FinCEN -- the Financial Crimes Enforcement Network. Created in 1990, FinCEN works closely with law enforcement and the financial industry to combat money laundering and terrorist financing, both domestically and internationally. Based in Washington, D.C., FinCEN administers the Bank Secrecy Act, which now covers all financial institutions under the new regulations of the USA PATRIOT Act. This includes broker dealers and money transmitters, as well as banks. FinCENs William J. Fox was appointed Director in December of 2003, but has been in the Treasury Department since 2000, where he received a Meritorious Rank Award in October 2003 for his work relating to terrorist financing and financial crime. Joining Mr. Fox on the podium to talk about recent enforcement actions and fines against the financial industry will be William Langford, Senior Policy Advisor for FinCEN, joined by Herbert Beirn, Senior Associate Director with the Federal Reserve Board of Governors in Washington, D.C.

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Categories: Payments & Commerce | Payments General
Countries: World
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