Financial Institutions, Data-Sharing, Anti-Money Laundering

Challenges in Data Sharing between Banking Partners

Ankura on 5/15/2025

Life in the United States and most modern industrialized countries is driven primarily by data. Google alone processes 20 Petabytes of data every day (1 petabyte = 1 million gigabytes. Economies are built on data; marketing...more

FinCEN Adopts Final AML Program Rule for Investment Advisers

Goodwin on 9/19/2024

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted a final rule (the Final Rule) on August 28 that will treat certain investment advisers and exempt reporting advisers as financial...more

Key Regulatory Developments in Hong Kong and Singapore: November 2020

Latham & Watkins LLP on 12/9/2020

Regulators propose new regulations for virtual asset exchanges and enhanced customer identity verification requirements, and launch an innovative commercial data interchange. This blog post summarises key regulatory...more

UK Firms Should Share Customer Information Cross-Border Intra-Group to Fight Money Laundering and Terrorist Financing

Latham & Watkins LLP on 5/22/2020

UK government encourages regulated firms to share customer information within corporate groups, highlighting interaction with firms’ obligations under the Proceeds of Crime Act 2002 and GDPR. The UK government has...more

U.S. Senate Considering Update to Federal Anti-Money Laundering System

Foley Hoag LLP - White Collar Law &... on 9/30/2019

A bipartisan group of Senators, with the support of the American Bankers Association, recently introduced bill S.2563, known as the ILLICIT Cash Act. The acronym “ILLICIT” stands for “Improving Laundering Laws and Increasing...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 9/21/2018

In January 2017, Alibaba co-founder Jack Ma was proudly promising to create 1 million jobs in America—a heady promise but one not unthinkable given Alibaba’s massive scale. Fast forward 20 months and a growing Sino-American...more