Money Laundering

The Financial Crimes Enforcement Network (FinCEN) released Issue 12, October 2007, of The SAR Activity Review—Trends, Tips & Issues, which includes many new examples of how law enforcement agencies are using Suspicious Activity Reports (SARs) to discover and disrupt criminal enterprises and protect the financial system. The latest issue also contains guidance on definitions and criminal statutes for the SAR characterizations of suspicious activity.

The expanded descriptions of law enforcement cases are intended to illustrate the importance of Bank Secrecy Act (BSA) data. Many of the cases were initiated by BSA report filings.

The guide can be downloaded at

FinCEN issued an advisory to U.S. financial institutions to guard against threats of illicit Iranian activity related to money laundering, terrorist financing and weapons of mass destruction proliferating financing. The Financial Advisory Task Force (FATF) cited Iran’s lack of a comprehensive anti-money laundering and combating the finance of terrorism (AML/CFT) program as a significant vulnerability within the international financial system.

The FinCEN advisory is available at


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.