The Financial Crimes Enforcement Network and the Bureau of Industry and Security issued a joint notice highlighting a new Suspicious Activity Report key term.
FinCEN issues new SAR term for reporting export control evasion
November 09, 2023 / By ICBA
The Financial Crimes Enforcement Network and the Bureau of Industry and Security issued a joint notice highlighting a new Suspicious Activity Report key term.
The Financial Crimes Enforcement Network and the Bureau of Industry and Security issued a joint notice highlighting a new Suspicious Activity Report key term.
New Key Term: The “FIN-2023-GLOBALEXPORT” term is for financial institutions to reference when reporting potential efforts by individuals or entities seeking to evade U.S. export controls not related to Russia’s invasion of Ukraine.
Background: Financial institutions are encouraged to continue to use the key term “FIN-2022-RUSSIABIS” when filing SARs related to suspected Russian export control evasion.
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