News & Analysis as of

Penalties Anti-Money Laundering

Alston & Bird

GENIUS Act Establishes Federal Regulatory Oversight of Global Stablecoin Industry

Alston & Bird on

Our Privacy, Cyber & Data Strategy and White Collar, Government & Internal Investigations Teams examine how the GENIUS Act’s framework for stablecoin issuers will impact the cryptocurrency sector....more

Holland & Knight LLP

Se reforman y adicionan diversas disposiciones de Ley Antilavado y Código Penal en México

Holland & Knight LLP on

Tal y como se anticipó desde abril de este año, el 16 de julio de 2025, en el Diario Oficial de la Federación, se publicó el decreto por el que se reforman y adicionan diversas disposiciones de la Ley Federal para la...more

K&L Gates LLP

Key Lessons From the Latest UK Office for Financial Sanctions Implementation Art Market Participants and High Value Dealers Threat...

K&L Gates LLP on

On 18 June 2025, the UK Office for Financial Sanctions Implementation (OFSI) published a threat assessment (the Assessment) on compliance with UK sanctions and money laundering law for art market participants (AMPs) and high...more

Orrick, Herrington & Sutcliffe LLP

California and other state regulators fine money transmitter $4.2M for BSA/AML violations

On July 9, the California DFPI, alone and joining five other state financial regulatory agencies, announced a multistate enforcement action resulting in a $4.2 million penalty against a licensed money transmitter for alleged...more

Cadwalader, Wickersham & Taft LLP

Midyear Momentum, July 2025 - FinCEN Uses the FEND Off Fentanyl Act for First Time To Prohibit Funds Transfers With Three Mexican...

On June 25, 2025, FinCEN announced its first orders under the 2024 FEND Off Fentanyl Act, finding that three Mexican financial institutions—CIBanco S.A. Institución De Banca Multiple (“CIBanco"), Intercam Banco S.A.,...more

Hogan Lovells

FinCEN invokes new Section 2313a authority against three Mexican financial institutions: The who, what, when, where, why, and...

Hogan Lovells on

The orders represent the first use of new authorities by FinCEN. U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions will be subject to significant compliance obligations,...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for May 2025

On May 14, 2025, Deputy Enforcement Director Antonia Apps told those gathered at an anti‑money laundering conference in Washington, D.C. to expect a more measured approach from SEC Enforcement. That may include, she...more

Lowenstein Sandler LLP

OFAC Imposes Largest-Ever Penalty on Nonbank Financial Institution for Egregious and Sustained Sanctions Violations—a $216M...

Lowenstein Sandler LLP on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a historic $215,988,868 civil monetary penalty against GVA Capital Ltd. (GVA), a venture-capital firm registered in the Cayman Islands...more

Blake, Cassels & Graydon LLP

Refonte majeure du cadre des sanctions établi dans la législation canadienne sur le recyclage des produits de la criminalité

Le 3 juin 2025, le nouveau gouvernement fédéral du Canada a présenté le projet de loi C-2 (le « projet de loi »), la Loi visant une sécurité rigoureuse à la frontière, en première lecture à la Chambre des communes. Le projet...more

Blake, Cassels & Graydon LLP

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

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

Brownstein Hyatt Farber Schreck

Recent Enforcement Actions a Reminder of the Importance of BSA Compliance for Nevada Casinos

Following a multiyear lull, the Nevada gaming industry has recently experienced a flurry of federal and state regulatory actions related to the enforcement of the Bank Secrecy Act. Just the past several months alone have seen...more

Conyers

Country Update - Bermuda: AML

Conyers on

Bermuda is a leading international financial centre and maintains a comprehensive body of primary legislation relating to money laundering and terrorist financing, supported by a range of general and sector specific guidance...more

Akerman LLP

Bringing Money Into the U.S.: Declare It or Risk Serious Consequences

Akerman LLP on

Bringing money, whether cash or other forms, into or out of the United States is generally legal, no matter the amount. However, the U.S. government requires you to report large sums....more

Awatif Mohammad Shoqi Advocates & Legal...

Virtual Assets or Cryptocurrency Under UAE Law.

Digital currency, or cryptocurrency, is an alternative payment method developed with encryption methods. Encryption technology enables cryptocurrencies to act as both a currency and a virtual accounting system. The use and...more

White & Case LLP

“Unsubstantiated” suspicious transaction reports

White & Case LLP on

While financial institutions, on the one hand, are in the process of implementing and preparing to apply the fundamental amendments and changes that will take place in upcoming years by the EU AML Package—entering into force...more

McGuireWoods LLP

FinCEN Narrows Focus on Southwest Border

McGuireWoods LLP on

In the last few weeks, the Financial Crimes Enforcement Network (FinCEN) has circulated several instructions focusing on money services businesses operating in the southwest United States, answering the current...more

Butler Snow LLP

Treasury Department Limits Enforcement of the Corporate Transparency Act

Butler Snow LLP on

The Treasury Department announced on March 2nd that it does not intend to enforce any penalties or fines against either U.S. citizens or domestic reporting companies and their beneficial owners under the Corporate...more

Greenbaum, Rowe, Smith & Davis LLP

Latest Update on Corporate Transparency Act Compliance: FinCEN Suspends Penalties for Failure to Report by Current Deadlines

In our most recent Alert on the highly controversial and largely litigated nature of the Corporate Transparency Act (CTA), we reported that the CTA was back in effect nationwide and that, but for a few exceptions, all...more

Adams & Reese

FinCEN Gets Green Light from Texas Court to Enforce the Corporate Transparency Act

Adams & Reese on

The courts have spoken, and the last nationwide injunction has fallen. FinCEN has a green light to enforce the Corporate Transparency Act, and the federal agency has set a new deadline in March for companies to report....more

Kerr Russell

The Corporate Transparency’s Act’s Impact on Medical Practices: Understanding Physicians’ Obligations Amid Recent Judicial and...

Kerr Russell on

Medical practices across the United States are grappling with new compliance obligations under the Corporate Transparency Act (CTA). This article addresses the CTA’s applicability to medical practices, its current legal...more

White & Case LLP

SEC Charges Investment Adviser - Signaling Importance of Accurate Disclosure of AML Procedures

White & Case LLP on

The U.S. Securities & Exchange Commission ("SEC") recently announced settled charges against an investment adviser for misrepresentations regarding its anti-money laundering ("AML") procedures and compliance failures. As we...more

Awatif Mohammad Shoqi Advocates & Legal...

Fresh Amendments to Law On Financial Audit Authority: Offending Employees Now Face Travel Ban and Asset Seizure

The Emirate of Dubai has recently passed new amendments to the existing “Dubai Law No. 4/2018 on the Establishment of the Financial Audit Authority” (“LAW”). As per the new amendments, financial fraud and misconduct in...more

Davis Wright Tremaine LLP

CFTC Releases Its Enforcement Results for FY 2024 Showing an All-Time High for Monetary Relief

On December 4, 2024, the CFTC's Division of Enforcement ("Division") released its enforcement results for Fiscal Year 2024. The results reflected an all-time high for monetary relief, mainly from its resolution of off-channel...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Aims for Harmonized Sanctions Enforcement With Defined Criminal Offences and Penalties

European Union member states have until 20 May 2025 to transpose into their national legislation EU Directive (EU) 2024/1226 (the Directive), which establishes minimum rules on the definition of criminal offences and...more

Best Best & Krieger LLP

The U.S. Corporate Transparency Act - Filing Deadline Approaching

Best Best & Krieger LLP on

BBK recently released a two-part series discussing the Corporate Transparency Act (“CTA”) – new legislation enacted by Congress in January 2021, as part of the Anti-Money Laundering Act of 2020....more

86 Results
 / 
View per page
Page: of 4

"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