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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Treasury fact sheet on recent actions

Yesterday, the Treasury Department issued a Fact Sheet on recent actions taken to enhance financial transparency and combat illicit finance. These initiatives include major steps towards implementing the Anti-Money Laundering Act, including the Corporate Transparency Act, and supporting the Administration’s Strategy to Counter Corruption. Major initiatives include:

  • Increasing corporate transparency through beneficial ownership reporting as FinCEN implements the Corporate Transparency Act
  • Strengthening transparency in the residential real estate market with its February 2024 Notice of Proposed Rulemaking to require certain professionals involved in real estate closings and settlements to report information to FinCEN about non-financed transfers of residential real estate to legal entities or trusts.
  • Protecting the investment adviser sector from abuse with its recent Notice of Proposed Rulemaking to require certain investment advisers to apply AML/CFT requirements pursuant to the Bank Secrecy Act, including implementing risk-based AML/CFT programs, reporting suspicious activity to FinCEN, and fulfilling relevant recordkeeping requirements. Related to this effort, Treasury also published a detailed risk assessment of the investment adviser sector that identified several illicit finance and national security risks.
  • Publication of the 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing.
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