Calling all compliance officers – FIBA needs you!
2024 has been a very busy year for FinCEN. They have issued Notices of Proposed Rulemaking (NPRM) on everything from adding investment advisers to the list of businesses classified as “financial institutions” under the BSA to the Customer Identification Program (CIP) Rule requirement for banks to collect a taxpayer identification number (TIN).
FIBA has been tracking these NPRMs and, in keeping with our role as the voice for international banking, will issue comment letters to advise FinCEN whenever an undue or unnecessary additional regulatory burden is being placed on our members.
We value your input, and our AML Compliance committee will be holding calls to receive your feedback and exchange ideas.
Stay tuned for the meeting announcements!
Regards,
David Schwartz
CEO & President