Overview of FinCEN’s Enforcement Against Money Services Businesses and Use of Geographic Targeting Orders


Instructor: Barbara Keller
Product ID: 705484

  • Duration: 60 Min
This webinar will cover the agency's current enforcement climate for NBFIs, provide detail on recent enforcement actions against MSBs including money transmitters, virtual currency exchanges, and individuals; and discuss FinCEN’s use of GTOs. This webinar will also provide lessons learned and key themes drawn from FinCEN's increase in enforcement actions against NBFIs and its use of GTOs.
Last Recorded Date: Jan-2018


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Why Should You Attend:

In recent years, FinCEN has increased its BSA enforcement against non-bank financial institutions (NBFIs) and expanded its use of other enforcement authorities. By explaining how NBFIs, primarily, MSBs, violated the BSA, this presentation will help personnel, especially those who implement BSA/AML programs at MSBs, to better understand how to comply with the BSA and avoid being sanctioned by FinCEN.

FinCEN has also used GTOs to target specific industries and geographic areas for additional reporting. Attendees will learn more about the significance of these orders and how they benefit law enforcement. This webinar will also be useful to all those responsible for BSA programs at financial institutions to learn about trends in FinCEN enforcement.

Areas Covered in the Webinar:

  • FinCEN’s recent enforcement actions against:
    • money transmitters
    • check cashers
    • virtual currency exchanges
    • individuals
  • FinCEN’s use of GTOs targeting cash couriers
  • FinCEN’s use of GTOs targeting high-end real estate
  • FinCEN’s use of GTOs targeting other industries
  • Themes in FinCEN’s recent enforcement actions

Who Will Benefit:

  • BSA/AML Compliance Officers at banks and MSBs
  • Front Line BSA/AML Staff
  • Internal and Independent Auditors
  • Bank and MSB Staff with Roles and Responsibilities in BSA/AML Management and Oversight
  • Risk and Compliance Management
  • Consultants in the AML/BSA Industry specializing in MSBs
Instructor Profile:
Barbara Keller

Barbara Keller
Principal, BIKConsulting LLC

Barbara I. Keller, CAMS, CFCS, CAFP, is an independent anti-money laundering/financial crime consultant and Principal with BIKConsulting LLC. She provides consulting services on financial institution compliance with anti-money laundering/countering the financing of terrorism (AML/CFT) regulatory requirements. She also conducts independent AML reviews and provides domestic and international training on AML/CFT regulatory compliance.

Ms. Keller retired from U.S. government service in August 2013. She spent the last four years of her federal career as the Deputy Associate Director for Compliance and Enforcement at the Financial Crimes Enforcement Network (FinCEN). In this position, she worked to help financial institutions improve their AML compliance and also to sanction egregious noncompliance. She also led FinCEN’s efforts to improve regulation of money services businesses by working with the IRS and state regulators to better coordinate and improve the quality of BSA/AML examinations.

Prior to joining FinCEN, Ms. Keller spent 26 years with the U.S. Government Accountability Office (GAO), Congress’s watchdog agency. For the last 10 years of her GAO career, Ms. Keller managed assignments mostly dealing with AML compliance and enforcement and interagency cooperation and coordination.

Ms. Keller is a Certified Anti-Money Laundering Specialist, a Certified Financial Crimes Specialist, and a Certified AML and Fraud Professional. She is also on the Board of the US Capital Chapter of ACAMS. She graduated with a B.S. in Languages from Georgetown University and holds an M.A in Public Administration from the University of Virginia.

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