En Noviembre del 2019, el IRS y la Oficina de Control de Activos Extranjeros (“OFAC”) firmaron un Memorando de Entendimiento (“MOU”). El MOU describe un entendimiento entre el IRS y la OFAC con respecto a las revisiones...more
FinCEN es una oficina del Departamento del Tesoro de los EE. UU. Su propósito principal es proteger el sistema financiero del uso ilícito, combatir el lavado de dinero y promover la seguridad nacional a través de la...more
9/4/2020
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Data Collection ,
Data Management ,
Financial Crimes ,
FinCEN ,
IRS ,
Memorandum of Understanding ,
Money Laundering ,
Tax Planning
On August 13, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the Comptroller of the Currency issued a JOINT...more
There are other U.S laws that intersect with the FCPA. A violation of the FCPA may also constitute a violation of the characteristics of another U.S. Law – in this case the Travel Act....more
9/4/2020
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
BSA/AML ,
Corruption ,
Department of Justice (DOJ) ,
Financial Crimes ,
Foreign Commerce ,
Foreign Corrupt Practices Act (FCPA) ,
Tax Planning ,
Travel Act
El 15 de abril de 2020, los miembros del Consejo de Examen de Instituciones Financieras Federales (“FFIEC”) publicaron secciones actualizadas y procedimientos de examen relacionados con el Manual de Examen de la Ley de...more
En mayo del 2020, el FATF (GAFI) publicó nuevas amenazas y vulnerabilidades de lavado de dinero y financiamiento del terrorismo derivadas de la crisis COVID-19. El documento destaca cómo el fraude, el cibercrimen, la mala...more
On May, 2020, the FATF published new money laundering and terrorist financing threats and vulnerabilities arising from the COVID-19 crisis. The document highlights how fraud, cybercrime, misdirection of government funding...more
On March 16, 2020, FinCEN advised Financial Institutions to be on the alert about fraudulent transactions and potential illicit behavior connected to Covid-19. FinCEN encouraged Financial Institutions to contact their...more
The Travel Act ( 18 U.S.C. § 1952 -one of the older members of the family of money laundering criminal statutes) is close to celebrating its 60th year. The Travel Act is still relevant today because of its “broad spectrum”...more
Las investigaciones OFAC a menudo se provocan como resultado de: • Informes generados por instituciones financieras de los EE. UU. que han bloqueado o rechazado una transacción en base a una presunta violación de sanciones...more
The U.S. Department of the Treasury 2020 Strategy (National Strategy for Combating Terrorist and Other Illicit Financing released on February 6, 2020) describes ongoing significant AML/CFT threats. ...more
3/13/2020
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Common Reporting Standard (CRS) ,
Corruption ,
Cross-Border Transactions ,
Digital Assets ,
FATCA ,
FATF ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
Money Laundering ,
Real Estate Investments ,
Tax Haven ,
Terrorism Funding ,
Terrorist Financing Regulations ,
U.S. Treasury ,
Vulnerability Assessments
In November, 2019 the IRS and the Office of Foreign Assets Control (OFAC) signed a Memorandum of Understanding (MOU). The MOU outlines an understanding between the IRS and OFAC with respect to reviews conducted by the IRS...more
El 30 de abril del 2018, la División Criminal del Departamento de Justicia de los Estados Unidos (“Department of Justice – DOJ”) publicó un documento de orientación sobre los programas de cumplimiento corporativo. ...more
On 2/6/2020, the U.S. Department of the Treasury issued the 2020 National Strategy for Combating Terrorist and Other Illicit Financing (2020 Strategy). The purpose of the 2020 Strategy is to...more
2/21/2020
/ AML/CFT ,
Anti-Corruption ,
Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Corruption ,
Cross-Border Transactions ,
Digital Assets ,
Drug Trafficking ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
Human Trafficking ,
Money Laundering ,
Organized Crime ,
Real Estate Investments ,
Regulatory Oversight ,
Terrorism Funding ,
Terrorist Financing Regulations ,
Transparency ,
U.S. Treasury ,
Vulnerability Assessments
El perfil de riesgo de la OFAC de una Institución Financiera se determina basado sus productos, servicios, clientes y ubicaciones geográficas. Se requiere que un programa de cumplimiento OFAC de una Institución Financiera...more
12/9/2019
/ Anti-Corruption ,
Anti-Money Laundering ,
BSA/AML ,
Consumer Financial Products ,
Corruption ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
High Risk Financial Products ,
Industry Examinations ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
Risk Management ,
Risk-Based Approaches ,
Tax Planning ,
White Collar Crimes
A Financial Institution’s OFAC risk profile is determined based on its products, services, customers and geographic locations. A Financial Institution’s OFAC compliance program is required to...more
12/9/2019
/ Anti-Corruption ,
Anti-Money Laundering ,
BSA/AML ,
Consumer Financial Products ,
Corruption ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
High Risk Financial Products ,
Industry Examinations ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
Risk Management ,
Risk-Based Approaches ,
Tax Planning ,
White Collar Crimes
IRS-Criminal Investigation (IRS-CI) is a federal agency department specifically authorized to investigate and prosecute federal income tax crimes. IRS-CI uses data analytics such as models, algorithms, and the millions of...more
8/19/2019
/ Analytics ,
Anti-Money Laundering ,
Criminal Investigations ,
FATCA ,
Financial Crimes ,
Foreign Financial Institutions (FFI) ,
IRS ,
John Doe Investigation ,
Tax Crimes ,
Tax Fraud ,
Tax Planning
On April 30, 2018, the Criminal Division of the US Department of Justice (DOJ) released a guidance document regarding corporate compliance programs. The guidance looks at the adequacy and effectiveness of compliance programs...more
The Suspicious Activity Report (SAR) was created by five federal financial agencies and the Treasury Department’s Financial Crimes Enforcement Network (FinCEN)....more
6/3/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Financial Abuse ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
FinCEN ,
Money Laundering ,
Regulatory Requirements ,
Reporting Requirements ,
Suspicious Activity Reports (SARs)
The forensic accounting skillset of FBI Special Agent, Mrs. Laura Smith, is receiving a lot of credit for her work in the largest college scandal in the U.S; the Varsity Blues Operation.
...more
The Financial Crimes Enforcement Network (FinCEN) provided the banking industry certain “permanent” relief from collecting beneficial ownership information regarding certain accounts (Covered Products) that automatically...more
The Global Forum and the Organization for Economic Cooperation and Development (OECD) oversee the internationally agreed standards of tax transparency and exchange of information via the Common Reporting Standard (CRS). ...more
1/24/2019
/ Anti-Corruption ,
Common Reporting Standard (CRS) ,
Financial Crimes ,
Foreign Financial Accounts ,
Latin America ,
OECD ,
Regulatory Oversight ,
Regulatory Requirements ,
Tax Evasion ,
Tax Liability ,
Tax Planning ,
Transparency ,
White Collar Crimes
With whom we do business can be critical to combating identity theft, financial fraud, money laundering and terrorism. Vetting individuals and entities is necessary for preventing financial crimes. ...more
The Organisation for Economic Co-operation and Development (OECD) issued a “call to action” for countries to do more to tackle enablers of tax crimes. The result of this “call to action” was the establishment of an...more
8/24/2018
/ Bitcoin ,
Blockchain ,
Capital Gains ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Crimes ,
Financial Transactions ,
Income Taxes ,
Investment ,
IRS ,
Money Laundering ,
Popular ,
Regulatory Oversight ,
Reporting Requirements ,
Tax Evasion ,
Tax Liability ,
Tax Planning ,
Tax Returns ,
Virtual Currency
There is a Bill (H.R. 6068), originally drafted on November 14, 2017, called the Counter Terrorism and Illicit Finance Act (CTIFA). The Bill intended to propose a substantial overhaul to the Bank Secrecy Act (BSA). ...more
7/27/2018
/ Bank Secrecy Act ,
Banking Sector ,
Beneficial Owner ,
BSA/AML ,
Financial Crimes ,
Financial Regulatory Reform ,
Legislative Agendas ,
Money Laundering ,
Proposed Legislation ,
Regulatory Requirements ,
Tax Haven