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Financial Crimes Financial Institutions National Security

Mayer Brown

FinCEN's First Strike: New Section 311 Powers Target Mexican Financial Institutions Under FEND Off Fentanyl Act

Mayer Brown on

In this episode, host Lauren Pryor and her colleagues discuss the recent actions by FinCEN, which designated three Mexican financial institutions as primary money laundering concerns under the expanded Section 311 authority,...more

Harris Beach Murtha PLLC

The DOJ’s Top Priorities in White Collar Crime

The Department of Justice (DOJ), through the Office of the Assistant Attorney General, has issued a memorandum outlining DOJ’s primary points of focus in white-collar crime. The memo details how white-collar crime is...more

Paul Hastings LLP

Implications for Mexican Banks and Financial Institutions of President Trump’s Designation of Drug Cartels as Foreign Terrorist...

Paul Hastings LLP on

On his first day in office, President Donald Trump signed an executive order that initiates the process of designating certain drug cartels as foreign terrorist organizations. The executive order is primarily focused on...more

The Volkov Law Group

OFAC Closes Out Year with String of Enforcement Actions — Aiotec Pays OFAC $14.55 Million to Resolve Iran Sanctions Violations

The Volkov Law Group on

Despite a relatively slow year in OFAC sanctions enforcement, OFAC closed 2024 with a string of settlements in five cases, including its second in 2024 against an individual defendant. While OFAC had a slow year, DOJ...more

K2 Integrity

First Ever Targeted Guidance On Financial Institutions’ Compliance With Export Administration Regulations

K2 Integrity on

On 9 October 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) published its first ever unilateral guidance specifically addressed to financial institutions (FIs). The Guidance to Financial...more

Foodman CPAs & Advisors

BOI Destinatarios Autorizados

El 12/21/23, FinCEN emitió una regla final que implementa las disposiciones de acceso y salvaguardia de la Ley de Transparencia Corporativa (CTA) (la “Regla de Acceso”). La Regla de Acceso tiene como objetivo garantizar que:...more

Foodman CPAs & Advisors

BOI Authorized Recipients

On 12/21/23, FinCEN issued a final rule implementing the access and safeguard provisions of the Corporate Transparency Act (CTA) (the “Access Rule”). The Access Rule aims to ensure that: (1) only BOI authorized recipients...more

Downs Rachlin Martin PLLC

Corporate Transparency Act - New Federal Reporting Requirement For Entities

Background - In January 2021, the United States Congress passed the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. This law, while intended to prevent criminal actors from hiding and...more

Proskauer Rose LLP

Wealth Management Update - December 2023

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Shining a Light on the Corporate Transparency Act: FinCEN’s Rules for Beneficial Ownership Reporting - On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA”) as part of the Anti-Money Laundering...more

Lowndes

The Real Estate Impact of FinCEN's Beneficial Ownership Reporting: Are You Prepared?

Lowndes on

In a move heralded as a significant step toward transparency, the Financial Crimes Enforcement Network (FinCEN) has adopted its final Beneficial Ownership Information (BOI) Reporting Rule pursuant to the Corporate...more

Cozen O'Connor

Biden Administration Unveils New Strategy on Countering Corruption

Cozen O'Connor on

On Monday, President Joe Biden released the United States’ first-ever Strategy on Countering Corruption. This guidance emphasizes the importance of responding to the threat of transnational corruption, and on preventing bad...more

The Volkov Law Group

FINRA Reminds Broker-Dealers on Importance of Compliance with New AML Rules

The Volkov Law Group on

The new Anti-Money Laundering laws and regulations continue to roll out with new risks, liabilities and compliance requirements.  There is a coming AML enforcement storm, fueled by a new AML whistleblower program that will...more

Polsinelli

Corporate Transparency Act – Your Beneficial Entity Ownership Disclosure Is Now Required

Polsinelli on

Executive Summary - The U.S. Congress recently passed the Corporate Transparency Act (“CTA”) as part of the 2021 National Defense Authorization Act. The CTA requires certain corporations, limited liability companies and...more

Troutman Pepper Locke

Anti-Money Laundering Act of 2020 Requires Beneficial Ownership Filings by Businesses

Troutman Pepper Locke on

The House of Representatives and the Senate voted to override President Trump’s veto of the National Defense Authorization Act for Fiscal Year 2021 (“NDAA”). The NDAA includes the Anti-Money Laundering Act of 2020 (“AMLA”)...more

Proskauer - The Capital Commitment

FinCEN Explains What Guides Its Enforcement Decisions

On August 18, 2020, the Financial Crimes Enforcement Network (FinCEN), which is the primary regulator and administrator of the Bank Secrecy Act (BSA), issued a statement on enforcement of the BSA. The requirements of the BSA...more

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