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The Volkov Law Group

Cartel and TCO Due Diligence and Risk Factors (Part II of II)

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Cartels and TCOs have entrenched themselves in legitimate industry sectors. In recent years, cartels and TCOs have adapted to market changes and new technologies. Many cartels and TCOs are disguising their ownership and...more

Thomas Fox - Compliance Evangelist

Daily Compliance News: June 6, 2025, The Good Punishment Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News....more

White & Case LLP

High-value, high-risk: Bribery, corruption and fraud threats to the luxury goods sector

White & Case LLP on

As Coco Chanel once said: "Fashion changes, but style endures." And "endurance" has been a key word for the global luxury goods sector in recent years; it has seen exceptional growth in defiance of high interest rates,...more

Orrick, Herrington & Sutcliffe LLP

FinCEN offers suspicious activity reporting guidance for human smuggling along U.S.- Mexico border

On January 13, the Financial Crimes Enforcement Network (FinCEN) issued an alert advising financial institutions on how to detect and report suspicious financial activity that may be related to human smuggling along the...more

McDermott Will & Emery

FinCEN Announces Anti-Money Laundering Priorities

McDermott Will & Emery on

The Financial Crimes Enforcement Network (FinCEN) recently issued its government-wide anti-money laundering (AML) and countering the financing of terrorism (CFT) priorities (AML/CFT priorities). FinCEN issued the AML/CFT...more

K2 Integrity

Federal Agencies Clarify Application of Model Risk Management Guidance to BSA/AML Compliance and Request Information from Industry

K2 Integrity on

On April 9, 2021, U.S. federal regulators issued an Interagency Statement addressing the application of existing model risk management guidance (MRMG) to systems or models used by banks to comply with Bank Secrecy Act (BSA)...more

The Volkov Law Group

FinCEN Issues Human Trafficking Advisory (Part II of II)

The Volkov Law Group on

Human traffickers, like all criminals, rely on the international financial system to facilitate their crimes and to disguise proceeds from their illegal activities.  Traffickers open bank accounts to deposit and launder...more

Cozen O'Connor

Expect an Uptick in Employee Embezzlement Following COVID-19 Lockdowns

Cozen O'Connor on

As businesses across the country begin to reopen in the wake of COVID-19, they should prepare for an anticipated surge of embezzlement schemes by employees — and banks and financial institutions should prepare for a surge of...more

Foodman CPAs & Advisors

¿Su institución financiera utiliza un “Matrix” de enfoque basado en el riesgo de la OFAC?

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

Foodman CPAs & Advisors

Does your Financial Institution utilize OFAC’s Risk Based Approach Matrix?

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

K2 Integrity

China Emerging as an Increasing Driver of Global Illicit Finance Risk

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Growing Chinese illicit finance threats, vulnerabilities, and exposure are combining to increase illicit financing risk in the international financial system, judging from a series of recent advisories, sanctions actions,...more

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