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Statement of Thomas J. Curry
July 17, 2012
The Subcommittee’s Staff Report has identified important concerns with the activities of HSBC and with oversight and enforcement of Bank Secrecy Act and anti-money laundering (BSA/AML) requirements by the OCC in the case of HSBC.
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2011 FDIC National Survey of Unbanked and Underbanked Households
September 2012
The FDIC is committed to ensuring that all Americans have access to safe, secure, and affordable banking services. Public confidence in the banking system derives in part from how effectively banks serve the needs of the nation’s diverse population. To assess the inclusiveness of the banking system, and in response to a statutory mandate, the FDIC conducts biennial surveys of households to estimate the proportion of households that do not fully participate in the banking system. This report presents the results of the 2011 FDIC National Survey of Unbanked and Underbanked Households.
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UNITED STATES OF AMERICA
DEPARTMENT OF THE TREASURY
FINANCIAL CRIMES ENFORCEMENT NETWORK
In the matter of: HSBC Bank USA N.A.
December, 2012
Under the authority of the Bank Secrecy Act and regulations issued pursuant to that Act, the Financial Crimes Enforcement Network has determined that grounds exist to assess a civil money penalty against HSBC Bank USA N.A. (“HBUS” or the “Bank”). HBUS enters into the CONSENT TO THE ASSESSMENT OF CIVIL MONEY PENALTY (“CONSENT”) with the Financial Crimes Enforcement Network.
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Update on Tax Refund Fraud and Related Identity Theft
February 26, 2013
The Financial Crimes Enforcement Network (FinCEN) issued an advisory to remind financial institutions of tax refund fraud and subsequent reporting of fraud through the filing of Suspicious Activity Reports (SARs).
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REMARKS OF JENNIFER SHASKY CALVERY
DIRECTOR
FINANCIAL CRIMES ENFORCEMENT NETWORK
April 15, 2013
In her April 15, 2013 address to the Mortgage Bankers Association Fraud Issues Conference, Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network (“FinCEN”) hit on the subject of Third Party Payment Processors. Ms. Shasky Calvery rightfully pointed out the risks associated with banking these service providers which include money laundering, identity theft, fraud schemes and illicit transactions.
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