Five U.S. regulatory agencies—the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), the Office of the Comptroller...more
And a Tale of Four Countries: Singapore Fines a U.K. Bank, and the U.S. Imposes a Consent Order on a Chinese Bank -
Less than a week apart, two major financial institutions (“FIs”) have been hit with penalties for failing...more
Last week, the Financial Action Task Force (“FATF”) issued a report concluding that Mexico needs to “step up efforts in pursuing money launderers.” ...more
1/9/2018
/ AML/CFT ,
Anti-Money Laundering ,
Banking Sector ,
Beneficial Owner ,
Corruption ,
FATF ,
Information Sharing ,
Know Your Customers ,
Mexico ,
Money Laundering ,
Risk Management ,
Suspicious Activity Reports (SARs) ,
White Collar Crimes
We discuss two recent federal court opinions addressing two issues of increasing frequency and importance: (i) the potential civil liability of financial institutions to non-customers and other third-parties for alleged...more
11/20/2017
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Financial Institutions ,
Forum Non Conveniens ,
Fraudulent Conveyance ,
Jurisdiction ,
Money Laundering ,
Popular ,
RICO ,
Suspicious Activity Reports (SARs)
This blog focuses on suggested improvements to information sharing between financial institutions, and between financial institutions and governments, to better combat money laundering and terrorist financing....more
As we recently blogged, the Royal United Services Institute (“RUSI”) for Defence and Security Studies — a U.K. think tank – has released a study: The Role of Financial Information-Sharing Partnerships in the Disruption of...more
10/23/2017
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
Financial Institutions ,
FinCEN ,
Information Sharing ,
Money Laundering ,
Patriot Act ,
Suspicious Activity Reports (SARs) ,
Terrorism Funding ,
Terrorist Financing Regulations