On August 22, 2017, FinCEN (Financial Crimes Enforcement Network) published a new Advisory regarding Geographic Targeting Orders (GTOs) covering residential real estate transactions in certain counties or boroughs of New...more
10/16/2017
/ Bank Secrecy Act ,
Beneficial Owner ,
Cash Transactions ,
Covered Transactions ,
FinCEN ,
Geographic Targeting Order ,
GTO ,
Limited Liability Company (LLC) ,
Money Laundering ,
Popular ,
Real Estate Investments ,
Real Estate Transactions ,
Shell Corporations ,
Tax Evasion ,
Wire Transfers
In the current environment of increased regulation, transparency, reporting and heightened compliance standards, the US and its Government Agencies have an arsenal of tools with extraterritorial application. ...more
8/21/2017
/ Beneficial Owner ,
BSA/AML ,
Common Reporting Standard (CRS) ,
Corruption ,
Extraterritoriality Rules ,
FATCA ,
Foreign Corrupt Practices Act (FCPA) ,
OECD ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Oversight ,
Transparency
Under the Bank Secrecy Act (BSA), the Financial Crimes Enforcement Network (FinCEN) issued a “Fifth Pillar” of the Final Customer Due Diligence (CDD) Rule on May 2016. The covered financial institutions (Banks; Brokers or...more