FinCEN has proposed lowering the “Recordkeeping Rule” and “Travel Rule” thresholds, and although the changes would benefit law enforcement, they could also result in increased cost to regulated entities. BDO’s Chuck Pine discusses the potential compliance burden the proposed changes could pose. On October 27, 2020, the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) and the Board of Governors...
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