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Financial Institutions › New Legislation › Financial Crimes

DLA Piper

Chile: Key Changes to Constitutional Bank Secrecy Protections

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Since 2023, the Chilean Congress has been discussing a bill that creates the Economic Intelligence Subsystem, which would include the Financial Analysis Unit (UAF), the Internal Revenue Service (SII), and the National Customs...more

Lowenstein Sandler LLP

Three Banks Targeted by FinCEN in FEND Off Fentanyl Act Actions: What to Know

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On June 25, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued its first orders under the FEND Off Fentanyl Act, targeting three Mexican financial institutions: CIBanco S.A. (CIBanco),...more

Blake, Cassels & Graydon LLP

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

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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

Jones Day

New European Anti-Money Laundering Authority Will Have Broad Normative Powers

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The European Union ("EU") Anti-Money Laundering ("AML") package adopted by the European Parliament and the Council on May 31, 2024, represents a major shift in the fight against money laundering and terrorist financing at the...more

Steptoe & Johnson PLLC

The Corporate Transparency Act

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The Corporate Transparency Act (CTA), included as an amendment to the Anti-Money Laundering Act of 2020, was passed by Congress this year as an effort to make it more difficult to commit “shell company” money laundering, tax...more

Polsinelli

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

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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

Foodman CPAs & Advisors

How will the AML Act of 2020 (the “Act”) Required Examiner Training Impact your Financial Institution?

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Section 6307 of the Act requires annual Anti-Money Laundering and Countering the Financing of Terrorism training for Examiners.  The training is to be done in consultation with FinCEN and all levels of law enforcement,...more

Foodman CPAs & Advisors

La Ley Contra el Lavado de Dinero del 2020 Puede Cambiar las Reglas del Juego para los Profesionales del Cumplimiento

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El 2 de diciembre del 2020, la Cámara de Representantes de los EE. UU. aprobó la “Ley de Autorización de Defensa Nacional William M. (Mac) Thornberry para el año fiscal 2021“. La Ley incluye la DIVISIÓN F (ANTI-LAVADO DE...more

Burr & Forman

A “Clean” Start to 2021: Changes to Federal Anti-Money Laundering Laws

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In a surprise bout of bipartisanship, and overriding a presidential veto, both chambers of Congress signaled a new priority for 2021—the strengthening of federal anti-money laundering provisions, albeit by an unexpected...more

Cohen & Gresser LLP

Pulling Back the Curtain: Congress Establishes a Beneficial Ownership Registry for U.S. and Foreign Businesses

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On January 1, 2021, Congress overrode President Trump’s veto, passing into law the annual National Defense Authorization Act for Fiscal Year 2021 (“NDAA”). ...more

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