FinCEN issues implementing regulations that “ensure” compliance with the BSA. FinCEN delegates its examination authority to federal agencies. These federal agencies are the “Federal Functional Regulators” who supervise...more
11/4/2020
/ Anti-Money Laundering ,
BSA/AML ,
CFTC ,
Corporate Governance ,
FDIC ,
Federal Reserve ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
FinCEN ,
Information Sharing ,
IRS ,
Money Laundering ,
NCUA ,
OCC ,
Securities and Exchange Commission (SEC)
On October 1, 2020, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to alert Financial Institutions (FI) relating to “predominant trends, typologies, and potential indicators of ransomware and associated...more
11/3/2020
/ Corporate Governance ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Financial Institutions ,
FinCEN ,
Hackers ,
Money Services Business ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Ransomware ,
Virtual Currency
En 1977, los Estados Unidos promulgó la Ley de Prácticas Corruptas en el Extranjero (FCPA). El FCPA prohíbe una oferta, pago, promesa o la autorización de un pago de dinero o cualquier cosa de valor (también conocido como...more
In 1977, the United States enacted the Foreign Corrupt Practices Act (FCPA). The FCPA prohibits an offer, payment, promise or the authorization of a payment of money or anything of value (a/k/a bribery) to a foreign official...more
The London Interbank Offered Rate (LIBOR) expires at the end of 2021. Used since the early 1980s, LIBOR is the most referenced global short-term interest rate, and a “standard benchmark”....more
8/21/2020
/ Benchmarks ,
Consumer Financial Products ,
Corporate Governance ,
Financial Institutions ,
Interest Rates ,
Libor ,
Loans ,
Mortgages ,
Secured Overnight Funding Rate (SOFR) ,
Student Loans ,
Tax Planning
On August 3, 2020, FinCEN issued responses to three frequently asked questions (FAQs) regarding Customer Due Diligence (CDD) requirements for covered financial institutions. FinCEN’s responses were done in consultation with...more
El 3 de agosto del 2020, FinCEN emitió respuestas a tres preguntas frecuentes (“FAQ”) para las Instituciones Financieras cubiertas sobre los requisitos de Diligencia Debida del Cliente (“CDD”). ...more
On July 3, 2020, the US Department of Justice (DOJ) released “A Resource Guide to the U.S. Foreign Corrupt Practices Act, Second Edition”. This updated edition is a concerted effort of the DOJ, Securities Exchange Commission...more