On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) issued guidance explaining how financial institutions can conduct due diligence for hemp-related businesses and identifying the type of information and...more
8/15/2020
/ Anti-Money Laundering ,
Banking Sector ,
Controlled Substances Act ,
Due Diligence ,
Farm Bill ,
Financial Institutions ,
FinCEN ,
Hemp ,
Hemp Related Businesses ,
New Guidance ,
Required Documentation ,
Suspicious Activity Reports (SARs) ,
USDA
On September 25, 2019, the US House of Representatives ("House") passed, by a vote of 321 to 103, the Secure and Fair Enforcement Banking Act ("SAFE Banking Act"), bipartisan legislation designed to secure and regulate...more
10/9/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Canada ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Cole Memorandum ,
Controlled Substances Act ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Harmonization Rules ,
Hemp ,
Marijuana Related Businesses ,
Medical Marijuana ,
NYDFS ,
Popular ,
Proposed Legislation ,
Rohrabacher-Farr Amendment ,
Suspicious Activity Reports (SARs) ,
USDA
In recent months, support for Bank Secrecy Act/anti-money laundering ("BSA/AML") reform has gained momentum in the US Congress as more than 20 pieces of reform-related legislation circulate the financial services committees....more
9/12/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
Criminal Prosecution ,
Financial Institutions ,
Financial Regulatory Reform ,
FinCEN ,
Legislative Agendas ,
Money Laundering ,
Money Laundering Control Act (MLCA) of 1986 ,
Suspicious Activity Reports (SARs)
Financial firms play an integral role in preventing, identifying, investigating and reporting criminal activity, including terrorist financing, money laundering, and many other finance-related crimes. It is a critical role...more
2/2/2019
/ Anti-Money Laundering ,
Artificial Intelligence ,
Bank Secrecy Act ,
Banking Sector ,
Confidentiality Policies ,
Distributed Ledger Technology (DLT) ,
EU ,
Financial Institutions ,
FinCEN ,
General Data Protection Regulation (GDPR) ,
Information Sharing ,
Innovative Technology ,
Money Laundering ,
Patriot Act ,
Privacy Laws ,
Suspicious Activity Reports (SARs) ,
Technology Sector ,
Terrorist Financing