On June 25, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued its first orders under the FEND Off Fentanyl Act, targeting three Mexican financial institutions: CIBanco S.A. (CIBanco),...more
6/30/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Broker-Dealer ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Mexico ,
New Legislation ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a historic $215,988,868 civil monetary penalty against GVA Capital Ltd. (GVA), a venture-capital firm registered in the Cayman Islands...more
6/18/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Civil Monetary Penalty ,
Due Diligence ,
Economic Sanctions ,
Financial Crimes ,
Fund Managers ,
Investment Management ,
Office of Foreign Assets Control (OFAC) ,
Penalties ,
Private Equity ,
Russia ,
Sanction Violations ,
SDN List ,
U.S. Treasury ,
Ukraine ,
Venture Capital
Last Friday, the U.S. Department of Justice (DOJ) unsealed its first indictment against a foreign national for providing material support to a Mexican drug cartel that the current administration recently designated a foreign...more
5/22/2025
/ Bank Secrecy Act ,
Cartels ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Executive Orders ,
Financial Crimes ,
FinCEN ,
Indictments ,
Mexico ,
Money Laundering ,
National Security ,
SAR ,
Terrorism Funding ,
Trump Administration
On Dec. 22, New York Governor Kathy Hochul signed the New York Limited Liability Company Transparency Act (“NY LLC Transparency Act”) into law. The NY LLC Transparency Act is modeled on the Corporate Transparency Act (“CTA”),...more
On August 1, a bipartisan bill was introduced to modify the Corporate Transparency Act (CTA). The Protect Small Businesses and Prevent Illicit Financial Activity Act (H.R. 5119) was introduced in the U.S. House of...more