News & Analysis as of

Beneficial Owner Risk Management Anti-Money Laundering

Baker Botts L.L.P.

Beyond the Fine: What Financial Gatekeepers Must Learn from Interactive Brokers’ OFAC Settlement

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has significantly increased its focus on sanctions compliance for “financial gatekeepers,” including financial institutions and other firms...more

The Volkov Law Group

Episode 377 — Refocusing Due Diligence on Cartel and TCOs

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Could your supply chain be funding cartels without you realizing it? In today’s complex global economy, companies are grappling with a dual challenge – the urgent need to unravel their supply chains and the immediate...more

The Volkov Law Group

Episode 377 -- Refocusing Due Diligence on Cartels and TCOs

The Volkov Law Group on

Could your supply chain be funding cartels without you realizing it? In today’s complex global economy, companies are grappling with a dual challenge - the urgent need to unravel their supply chains and the immediate...more

Walkers

Update on the British Virgin Islands and the FATF's list of jurisdictions under increased monitoring

Walkers on

Pending completion of its recommended actions under the BVI Mutual Evaluation Report published by the Caribbean FATF in February 2024, the BVI has been included on the FATF's list of "jurisdictions under increased...more

Hogan Lovells

Transforming Industries: How the EU's anti-money laundering regulation affects the non-financial sector

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The new EU Anti-Money Laundering Regulation (EU) 2024/1624 (the “AML Regulation”) introduces significant changes to the regulation of non-financial sectors. By including new obliged entities, the EU demonstrates its...more

Holland & Knight LLP

Cambios legislativos en la Ley Federal para la Prevención de Operaciones con Recursos Ilícitos y el Código Penal

Holland & Knight LLP on

Las Comisiones Unidas de Justicia y de Estudios Legislativos presentaron el 1 de abril de 2025, un dictamen en sentido positivo, de la iniciativa con proyecto de decreto por el que se reforman y adicionan diversas...more

DLA Piper

Chile: Financial Analysis Unit Publishes Compilation of Rules for Regulated Entities

DLA Piper on

Chile’s Financial Analysis Unit (FAU) has published its Circular No. 62, also known as the Updated Compilation of Rules (RAN), which compiles, systematizes, and updates key requirements for all regulated entities that carry...more

Blake, Cassels & Graydon LLP

Recyclage des produits de la criminalité et financement des activités terroristes : modification accélérée du régime canadien

Le 7 mars 2025, le ministère des Finances du Canada a annoncé la finalisation de modifications apportées à la réglementation en vertu de la Loi sur le recyclage des produits de la criminalité et le financement des activités...more

Conyers

Conyers Coverage Issue 12

Conyers on

A warm welcome to this 12th edition of Conyers Coverage to kick off 2025. Now that the dust has settled, our team is reflecting on another exceptional year for the Cayman Islands (re)insurance industry in 2024. We lawyers may...more

American Conference Institute (ACI)

[Event] 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 5th - 6th, Toronto, Ontario, Canada

Hosted by the Canadian Institute, the 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime returns for another exciting year. The event features carefully curated programming providing practical guidance...more

American Conference Institute (ACI)

[Event] 8th Forum on FinTech & Emerging Payment Systems - April 9th - 10th, New York, NY

ACI’s 8th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems will provide in-depth guidance on the latest regulatory developments at the Federal and State Level that you need to be aware of....more

K2 Integrity

The Challenge of Transparency in Preventing Financial Crime: Navigating Financial Integrity in a Changing Risk Landscape

K2 Integrity on

The landscape of financial crimes is constantly evolving, and the concept of transparency is being fundamentally challenged. A dynamic, innovative approach is imperative to preserve and shape the future of financial...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

Ballard Spahr LLP

Congress Proposes National Directory of Beneficial Owners of Legal Entities

Ballard Spahr LLP on

Congress is considering a new draft bill, the Counter Terrorism and Illicit Finance Act (“CTIFA”), currently in committee in the Senate.  The CTIFA proposes the most substantial overhaul to the Bank Secrecy Act (“BSA”) since...more

The Volkov Law Group

The Need for Anti-Money Laundering Regulatory Reform

The Volkov Law Group on

It is rare these days for Republicans and Democrats to agree on political priorities – another profound grasp of the obvious. Recently, on Capitol Hill there appears to be some common ground on the issue of reforming AML...more

Ballard Spahr LLP

Mexico’s AML Regime Evaluated by the FATF: Systemic Improvement, but Suspicious Transaction Reporting and Law Enforcement Efforts...

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Last week, the Financial Action Task Force (“FATF”) issued a report concluding that Mexico needs to “step up efforts in pursuing money launderers.” ...more

The Volkov Law Group

Incorporating AML Compliance Into a Compliance Program (Part III of III)

The Volkov Law Group on

Global companies should implement an AML program and KYC practices that follow the general outline for best practices, though it does not need to be as rigorous as a financial institution. For most companies, AML risks can...more

The Volkov Law Group

Corporate Shell Games and KYC Requirements

The Volkov Law Group on

Anti-money laundering professionals are in for a rude awakening. Know Your Customer or KYC requirements are currently kicking up a notch, and will be even more dramatic when the new FinCEN beneficial ownership regulations...more

The Volkov Law Group

AML Enforcement and Compliance Trends

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Law enforcement focus on anti-money laundering appears to be increasing. While the last ten years has seen a marked increase in AML regulatory obligations, the new administration is likely to return to some of the more...more

K2 Integrity

FinCEN’s Beneficial Ownership Rule and Increased AML Burden

K2 Integrity on

Compliance officers at financial institutions have made great strides in improving Know Your Customer (KYC) programs to focus on knowing their customers as a critical function in combating money laundering. As regulators...more

The Volkov Law Group

The Evolving Due Diligence Standards and Beneficial Ownership

The Volkov Law Group on

In case you are not following all the latest scandals – Unaoil and the Panama Papers being two significant ones – we are seeing an evolution and possibly a revolution in due diligence expectations....more

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