Financial Crimes, Penalties, Popular

Strong Borders Act: A Landmark Shift in Canada’s AML Penalties

Blake, Cassels & Graydon LLP on 6/6/2025

On June 3, 2025, Canada’s new federal government introduced Bill C-2 (Bill), the Strong Borders Act, for first reading in the House of Commons. The Bill includes significant amendments to Canada’s anti-money laundering...more

TD Bank: Part 1-Money Laundering and the China Syndrome

Thomas Fox - Compliance Evangelist on 10/14/2024

Last week, representatives of the US government announced one of the largest sets of fines and penalties for failures in anti-money laundering ever laid down. It involved TD Bank N.A. and TD Bank US Holding Company. It was...more

When is a US Taxpayer Required to Disclose Offshore Accounts on an FBAR and Form 8938

Allen Barron, Inc. on 4/30/2024

When is a US Taxpayer required to disclose offshore accounts on an FBAR and IRS Form 8938? While many US taxpayers and expatriates have come to understand the requirements of the FinCEN Form 114 or FBAR, a surprising number...more

Corporate Transparency Act Reporting Begins: Are You Ready?

McGlinchey Stafford on 1/3/2024

Effective January 1, 2024, companies must disclose their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) within the United States Department of Treasury. The reporting requirement is part of the U.S....more

The Corporate Transparency Act: A Primer for “Small” Businesses

Bass, Berry & Sims PLC on 10/20/2023

The Corporate Transparency Act (CTA), which aims to curb illicit financial activities like money laundering and other fraudulent activities, will go into effect on January 1, 2024. Consequentially, many types of businesses,...more

The Corporate Transparency Act and FinCEN Final Rule

Tucker Arensberg, P.C. on 8/7/2023

Important New Filings Will Be Required Beginning in 2024 - The United States does not currently have a centralized repository of data about who owns and operates legal entities within its borders. That soon will change....more