Banking Sector, Cross-Border Transactions, FinCEN

FinCEN invokes new Section 2313a authority against three Mexican financial institutions: The who, what, when, where, why, and...

Hogan Lovells on 6/27/2025

The orders represent the first use of new authorities by FinCEN. U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions will be subject to significant compliance obligations,...more

2020 Anti-Money Laundering Year in Review

Jones Day on 2/8/2021

2020 witnessed a flurry of anti-money laundering activity, with the issues and developments continuing to be global in scope. In the United States, suspicious activity reports, outlining transactions involving terrorism...more

The House Passes Cannabis Banking Legislation: Implications for the Financial Services Industry

White & Case LLP on 10/9/2019

On September 25, 2019, the US House of Representatives ("House") passed, by a vote of 321 to 103, the Secure and Fair Enforcement Banking Act ("SAFE Banking Act"), bipartisan legislation designed to secure and regulate...more

Proposed Changes to Cross-Border Reporting

Ballard Spahr LLP on 6/20/2017

Part III of the Analysis of the Combatting Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017 - As we recently blogged, Senators Chuck Grassley (R-Iowa) and Diane Feinstein (D-California) introduced on...more

De-Risking 101

Foodman CPAs & Advisors on 10/14/2016

Bank Secrecy Act of 1970 - Requires U.S. financial institutions to assist U.S. government agencies to detect and prevent money laundering by keeping records of cash purchases of negotiable instruments, and file reports...more

FinCEN Proposes AML Program Rule for Investment Advisers

Goodwin on 8/31/2015

The Financial Crimes Enforcement Network (FinCEN) has issued a proposed rule that would subject certain investment advisers to AML requirements under the Bank Secrecy Act (the BSA). In proposing the rule, FinCEN cited...more