On June 23, 2025, FinCEN issued a press release to inform U.S. financial institutions that the Financial Action Task Force (FATF), an intergovernmental body that establishes international standards to combat money laundering, counter the financing of terrorism, and combat weapons of mass destruction proliferation financing (AML/CFT/CPF), has issued public statements updating its lists of jurisdictions with strategic AML/CFT/CPF deficiencies following its plenary meeting last month. U.S. financial institutions should consider the FATF’s stance toward these jurisdictions when reviewing their obligations and risk-based policies, procedures, and practices.

On June 18, 2025, Deputy Secretary of the Treasury Michael Faulkender spoke at the 62nd Bank Secrecy Act Advisory Group (BSAAG) plenary meeting where he discussed the Trump Administration’s guiding principles for BSA modernization.

On June 18, 2025, FinCEN published its FinCEN Year in Review for FY 2024. The Year in Review is intended to help stakeholders gain insight into both FinCEN’s efforts to support law enforcement and national security agencies and how financial information is used.

On June 6, 2025, FinCEN issued an Advisory to assist U.S. financial institutions in identifying and reporting potential sanctions evasion and other suspicious activity related to Iran. The Advisory supports President Trump’s maximum pressure campaign against Iran and replaces FinCEN’s 2018 Advisory on the Iranian Regime’s Illicit Activities.

On May 23, 2025, FinCEN issued exceptive relief to covered financial institutions for requirements pursuant to its rule imposing special measures against the Commercial Bank of Syria. The exceptive relief permits covered financial institutions to open and maintain correspondent accounts for the Commercial Bank of Syria (CBoS) under certain conditions. 

On May 23, 2025, the OFAC issued immediate sanctions relief for Syria in line with the President’s announcement for the cessation of all sanctions on Syria. The Syria General License (GL) 25 authorizes transactions prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria.

On May 1, 2025, FinCEN issued a finding and notice of proposed rulemaking (NPRM) pursuant to Section 311 of the USA PATRIOT Act that identifies Cambodia-based Huione Group as a financial institution of primary money laundering concern and proposes to sever its access to the U.S. financial system.

In April 2025, the California Department of Financial Protection and Innovation (DFPI) issued a Consent Order against Hatch Bank requiring its Board of Directors to strengthen its supervision and direction of bank management, and its monitoring of the bank's AML/CFT program. Hatch Bank is a state-chartered, FDIC-insured, Banking as a Service (BaaS) sponsor bank.