On February 1, 2024, FinCEN issued an alert related to the financing of Israeli extremist settler violence against Palestinians in the West Bank. The alert provides select red flags to assist U.S. financial institutions in identifying and reporting suspicious activity that finances such violence.

On January 31, 2024, FinCEN assessed a $100,000 civil money penalty on Gyanendra Kumar Asre (Asre) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. In addition, FinCEN imposed a five-year ban on Asre’s participation in the conduct of the affairs of any financial institution subject to the BSA.

On January 30, 2024, FinCEN issued a notice and request for comments on the proposed information collection associated with requests made to FinCEN, by certain persons, for beneficial ownership information, consistent with the requirements of the Beneficial Ownership Information Access and Safeguards final rule. The BOI Access Rule implements CTA's strict data protection rules for sensitive personal information sent to FinCEN.

On January 29, 2024, FinCEN issued a finding and notice of proposed rulemaking that identifies Al-Huda Bank, an Iraqi bank that serves as a conduit for terrorist financing, as a foreign financial institution of primary money laundering concern. Along with its finding, FinCEN proposed imposing a special measure that would sever the bank from the U.S. financial system by prohibiting domestic financial institutions and agencies from opening or maintaining a correspondent account for or on behalf of Al-Huda Bank.

On January 12, 2024, FinCEN updated its Frequently Asked Questions on Beneficial Ownership Information Reporting. The FAQs aim to provide answers to inquiries received relating to the Beneficial Ownership Information Reporting Rule.

On January 12, 2024, FinCEN re-published the FAQs regarding implementation of the Paycheck Protection Program (PPP) particularly those that involve explaining the requirements under the Bank Secrecy Act (BSA). FinCEN also a added a new Question and Answer.

On January 9, 2024, FinCEN issued a Financial Trend Analysis on information linked to identity-related suspicious activity in Bank Secrecy Act reports filed from January to December 2021. FinCEN’s analysis found that approximately 1.6 million reports (42% of the reports filed that year) related to identity or $212 billion in suspicious activity.

On January 1, 2024, FinCEN began accepting beneficial ownership information reports. The BOI reporting rule requires many companies doing business in the United States to report information about the individuals who ultimately own or control them.

On December 21, 2023, FinCEN issued a final rule that establishes the framework for access to and protection of beneficial ownership information (BOI). The final rule prescribes the circumstances under which BOI reported in compliance with FinCEN’s September 30, 2022 final BOI Reporting Rule may be disclosed to Federal agencies; state, local, tribal, and foreign governments; and financial institutions, and how it must be protected. 

On December 12, 2023, FinCEN updated its Frequently Asked Questions on Beneficial Ownership Information Reporting. The FAQs aim to provide answers to inquiries received relating to the Beneficial Ownership Information Reporting Rule.