In “Compliance Expectations Muddied With Immigration Advisory” (American Banker, 12 June 2026), Himamauli Das discusses how recent FinCEN guidance may influence bank compliance practices, despite not imposing new legal requirements.
Commenting on the practical impact of advisories, he notes: “Advisories and alerts are not legally binding in the way the underlying [Bank Secrecy Act] requirements and regulatory obligations are. I would expect that AML compliance teams will review the advisory and assess the institution’s exposure to the risks identified and consider whether additional controls need to be put in place.”
Read the American Banker article.