Sars - All News And Posts By Crowdfund Insider

FinCEN Updates on Suspicious Activity Reports (SARs), Aims to Reduce the Noise

October 10, 2025 @ 3:53 pm By JD Alois |

Financial services firms are required to issue Suspicious Activity Reports (SARs) when they suspect money laundering or other illicit activities. This includes transactions of around $10,000 or structured transactions that break up the movement of money. A bank must file a SAR no later than… Read More

FinCEN Issues Statement on Funding of Terrorist Hamas Group, Tells Financial Firms to be On Alert

October 20, 2023 @ 1:33 pm By JD Alois |

FinCEN has issued a statement on funding of the terrorist Hamas group following the atrocities the group perpetrated in Israel. FinCEN urged financial services firms to be vigilant in any activity that may be used to fund Hamas. This is inclusive of virtual asset service… Read More

Crypto and Money Laundering: Still a ways to go for Law Enforcement, Regulators to Catch Up with the Crooks

June 22, 2023 @ 3:31 pm By JD Alois |

Detractors of digital assets, or crypto, typically point to the utilization of crypto to pursue nefarious activities such as money laundering. Rules exist for financial transactions regarding “know your customer” (KYC) and “anti-money laundering” (AML), but they are enforced to various degrees depending on the… Read More

FATF List of Cryptocurrency Service Red Flags to Help Standardize how Jurisdictions Track Illicit Transactions, Chainalysis Says

September 23, 2020 @ 11:34 pm By Omar Faridi |

The Financial Action Task Force (FATF) recently published a document for regulatory authorities and enforcement agencies. The FATF listed several different “red flags” in cryptocurrency transfers and service user profiles that may indicate that the entities involved in the transactions are engaging in money laundering,… Read More

FinCEN Director: Agency Receiving 1500 Reports of Suspicious Transactions Involving Cryptocurrencies Per Month

July 2, 2019 @ 11:14 am By Cali Haan |

FinCEN Director Kenneth A. Blanco told an audience at the NYU Law Program on Corporate Compliance and Enforcement earlier this month that his agency is receiving 1500 reports of suspicious transactions involving cryptocurrencies per month- 500 more than it receives regarding regular transactions. Blanco has… Read More

Commissioner: South African Crypto Traders Under Tax Authority’s Radar

August 22, 2018 @ 7:20 am By Cali Haan |

The commissioner of the South African Revenue Service (SARS) told attendees at an auditors’ conference in Sandton this week that SARS is stepping up efforts to identify crypto traders and collect related taxes, FIN24 reports. “The key thing is identifying people who are trading because… Read More