Regulatory Alerts2021-03-09 | FinCEN Notice FIN-2021-NTC2Added
FinCEN Notice on Trade in Antiquities and Art
The Financial Crimes Enforcement Network instructs financial institutions to reference notice FIN-2021-NTC2 in SAR field 2 and the narrative, and to select SAR field 36(z) for suspicious activity related to antiquities or art. Filers must detail the objects, transactions, and parties involved, including beneficial owners and intermediaries, while providing specific descriptions and photographs for stolen items. The notice also outlines new Anti-Money Laundering Act measures, including the inclusion of antiquities traders in the Bank Secrecy Act definition and a required Treasury study on art trade money laundering.