News & Analysis as of

Money Laundering Money Services Business Financial Institutions

Morrison & Foerster LLP

No Full TIN, No Problem: FinCEN Approves of TIN Verification Through a Third Party

On June 27, 2025, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order (Order) allowing banks,[1] and their subsidiaries, subject to the jurisdiction of the Office of the Comptroller...more

Ballard Spahr LLP

Bipartisan group of Senators re-introduce Digital Asset Money Laundering Act

Ballard Spahr LLP on

On July 28th, Senators Elizabeth Warren (D-Mass), Roger Marshall (R-Kan.), Joe Manchin (D-W.Va.) and Lindsey Graham (R-S.C.), reintroduced the Digital Asset Anti-Money Laundering Act (the “Act”), legislation aimed at closing...more

Ballard Spahr LLP

Bipartisan Group of Senators Re-Introduce the Digital Asset Money Laundering Act

Ballard Spahr LLP on

Legislation Targets Unhosted Wallets, Validators and Digital Asset ATMs - On July 28th, Senators Elizabeth Warren (D-Mass), Roger Marshall (R-Kan.), Joe Manchin (D-W.Va.) and Lindsey Graham (R-S.C.), reintroduced the...more

Blake, Cassels & Graydon LLP

De nouvelles modifications à la législation canadienne en matière de lutte contre le recyclage des produits de la criminalité

Le 21 avril 2023, le gouvernement du Canada a déposé un avis de motion de voies et moyens visant à mettre en œuvre certaines dispositions du budget fédéral de 2023 (le « Budget 2023 »). Comme nous l’avons mentionné plus tôt...more

Blake, Cassels & Graydon LLP

More Changes to Canadian Anti-Money Laundering Legislation

On April 21, 2023, the Canadian government introduced the Notice of Ways and Means Motion to implement certain provisions of the 2023 federal budget. As we noted earlier this month, certain changes were proposed to the...more

Sullivan & Worcester

Compliance Alert! Regulated Entities Gear Up for the UK's Economic Crime Levy

Sullivan & Worcester on

If your organisation is both supervised under the UK Money Laundering Regulations (“MLR”) and your UK Revenue exceeds £10.2 million per year, if you are not already, you will need to prepare for the forthcoming Economic Crime...more

Bennett Jones LLP

Canadian Cryptocurrency Companies Join Global Initiative to Combat Money Laundering

Bennett Jones LLP on

On May 24, 2022, nine Canadian cryptocurrency companies—Wealthsimple, CoinSmart, Netcoins, Shakepay, VirgoCX, Tetra Trust, BlocPal, Balance and Coinsquare—announced their membership in the Travel Rule Universal Solution...more

Torres Trade Law, PLLC

FinCEN Crypto & Ransomware Guidance: Will 2022 Bring More Changes?

Torres Trade Law, PLLC on

The Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of the Treasury (“Treasury”) has made clear that businesses engaging in certain activities involving virtual currencies are subject to registration,...more

Bennett Jones LLP

Changes to AML and Virtual Currency Regulations for Reporting Entities and Money Service Businesses

Bennett Jones LLP on

Entities dealing in "virtual currencies", money services businesses (MSBs) and other reporting entities (REs) to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) will become subject to new compliance...more

Ballard Spahr LLP

Treasury Department’s 2020 National Illicit Finance Strategy: Aspirations for BSA/AML Modernization and the Combatting of Key...

Ballard Spahr LLP on

First in a Two-Post Series - The U.S. Department of Treasury (“Treasury”) has issued its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”)....more

Orrick - On the Chain

In Case You Needed A Reminder – AML/CFT Regulations Apply to Transactions in Cryptocurrencies

Orrick - On the Chain on

Earlier this month, the leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission released a joint statement reminding individuals...more

Ballard Spahr LLP

Joint Statement on Digital Assets Highlights AML Regulatory Overlap

Ballard Spahr LLP on

Leaders of FinCEN, CFTC and SEC Attempt an Intricate Dance of Competing Oversight of Virtual Currency - On October 11, the leaders of the Financial Crimes Enforcement Network (“FinCEN”), the Commodity Futures Trading...more

Ballard Spahr LLP

FinCEN Advisory Highlights Money Laundering Risks Related to Fentanyl Trafficking

Ballard Spahr LLP on

On August 21, 2019, FinCEN issued an advisory (the “Advisory”) alerting financial institutions to various financial schemes and mechanisms employed by fentanyl and synthetic opioid traffickers to facilitate the illegal...more

Katten Muchin Rosenman LLP

FinCEN Publishes Guidance Pertaining to Certain Business Models Involving Convertible Virtual Currencies

On May 9, the Financial Crimes Enforcement Network of the US Department of the Treasury (FinCEN) issued guidance relating to how its regulations apply to certain businesses that transact in "convertible virtual currencies"...more

Blake, Cassels & Graydon LLP

The Good, the Bad and the Ugly: Revised Regulations to PCMLTFA

The wait is over. On June 9, 2018, the Department of Finance (Department) released the long-awaited amendments to the regulations to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) (Revised...more

Ballard Spahr LLP

Coinbase Cannot Force Noncustomers to Arbitrate Suit Alleging Violations of BSA/AML Duties

Ballard Spahr LLP on

Earlier this week, the Eleventh Circuit affirmed, in an unpublished opinion, that Coinbase Inc., an online platform used for buying, selling, transferring, and storing digital currency, could not compel arbitration on a...more

Davis Wright Tremaine LLP

Treasury Department Publishes National Money Laundering Risk Assessment and National Terrorist Financing Risk Assessment

On June 12, 2015, Treasury Department issued its National Money Laundering Risk Assessment (NMLRA) and National Terrorist Financing Risk Assessment (NTFRA). This is the Department’s first NMLRA release in a decade and its...more

17 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide