News & Analysis as of August 14, 2025

Financial Crimes

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

Out with a Whimper: FinCEN Issues Interim Final Rule on Corporate Transparency Act, Narrows BOI Reporting Requirements

Greenberg Glusker LLP on 4/16/2025

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an interim final rule, which was officially published in the Federal Register on March 26, 2025, removing the requirement for U.S. companies and...more

What’s Ahead as Corporate Transparency Act Comes to a Crossroads

Farella Braun + Martel LLP on 1/15/2025

The recent whiplash regarding the validity of the Corporate Transparency Act (CTA)—it was enjoined just to particular parties, then enjoined nationwide, then un-enjoined, then enjoined again, while other courts let it...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

Federal District Court Rules Corporate Transparency Act Unconstitutional

Willcox & Savage on 3/11/2024

On March, 1, 2024, the U.S. District Court for the Northern District of Alabama held that the federal Corporate Transparency Act (CTA) is unconstitutional. The plaintiffs in the case are the National Small Business...more

ICBC Agrees to Two Consent Orders for Alleged BSA/AML Deficiencies and Disclosure of Confidential Supervisory Information

Ballard Spahr LLP on 2/8/2024

Recently, the Industrial and Commercial Bank of China Ltd. (“ICBC”) entered into two consent orders. The first consent order is with the New York State Department of Financial Services (the “NYDFS”) for alleged deficiencies...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

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