FinCEN Clarification: BSA Due Diligence for Charities and Nonprofits
In an effort to provide clarity to credit unions on applying a risk-based approach to BSA due diligence for charities and nonprofit organizations, FinCEN, in conjunction with the Federal Banking Agencies, has issued a fact sheet for reference. FinCEN was clear that the fact sheet does not alter existing BSA/AML legal or regulatory requirements, nor
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