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BIS and FinCEN announce a new reporting key term

Compliance
Nov 20, 2023
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Financial institutions supporting exports are urged to identify evasion of all export controls, not just those related to Russia. The Bureau of Industry and Security (BIS) and the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) have issued notices to help financial institutions detect potential violations. Useful “Red Flags” are summarized here as well.

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