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Proposed 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

Mayer Brown

Eye on Economic Crime: Transformation of the UK Fraud Prevention Landscape

Mayer Brown on

We detail below some recent developments which track the transformation of the UK's fraud prevention landscape and what this means for companies. WHISTLEBLOWER INCENTIVISATION: A TRANSFORMATIVE TOOL...more

Orrick, Herrington & Sutcliffe LLP

Texas expands its banking commissioner’s powers into money services

On June 20, the governor of Texas signed into law HB 3805, expanding the Texas Department of Banking’s (TDB) enforcement powers over money services businesses. As stated in the state’s bill analysis, the TDB previously had...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2025 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....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

A&O Shearman

Top challenges for white collar crime and investigations lawyers in 2024

A&O Shearman on

We asked our global white collar crime team for their views on the key challenges in 2024 for in‑house investigations teams and white collar crime lawyers, and how to manage the associated risks. Here is what they said. ...more

Ballard Spahr LLP

FinCEN Expands CTA FAQs

Ballard Spahr LLP on

On November 16, the Financial Crimes Enforcement Network (“FinCEN”) issued – again –expanded FAQs pertaining to beneficial ownership information (“BOI”) reportable under the Corporate Transparency Act (“CTA”).  These expanded...more

Harris Beach Murtha PLLC

Lenders: The Corporate Transparency Act is Headed Your Way in January 2024

The Corporate Transparency Act (CTA), which was passed by Congress in 2021 and is administered by the Financial Crimes Enforcement Network (FinCEN) at the U.S. Department of the Treasury, will become effective on January 1,...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

Jenner & Block

Client Alert: Failure to Prevent Fraud – What Do You Need to Know About the New Corporate Offence?

Jenner & Block on

On 11 April 2023, the UK Home Office tabled an amendment to the Economic Crime and Corporate Transparency Bill (the Bill), which is currently making its way through the UK Parliament. The amendment introduces a much...more

WilmerHale

Failure to Prevent Fraud for UK Corporates

WilmerHale on

The UK Government yesterday introduced a new corporate “failure to prevent fraud” offence into draft legislation, the Economic Crime and Corporate Transparency Bill (“the Bill”). This is a significant development in UK...more

Cadwalader, Wickersham & Taft LLP

New Bipartisan Bill Takes Aim at Digital Asset Money Laundering and Terrorism Finance

On December 14, Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) introduced in the U.S. Senate a new bipartisan bill, titled "Digital Asset Anti-Money Laundering Act of 2022" (the “Bill”), intended to curb the...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Expands Enforcement Measures To Address Fraud and Money Laundering

On 22 September 2022, the U.K. government introduced the Economic Crime and Corporate Transparency Act 2022. The new bill is currently navigating its way through the U.K. Parliament and is likely to receive royal assent in...more

Goodwin

UK Limited Partnership Legislative Reform Package Introduced in the Economic Crime and Corporate Transparency Bill

Goodwin on

​​​​​​​The Economic Crime and Corporate Transparency Bill (the Bill) includes a package of proposed legislative amendments to U.K. limited partnership (UKLP) law, substantially to tighten registration requirements and improve...more

The Volkov Law Group

Administration Proposes Legislative Changes to Enhance Asset Forfeiture, Sanctions Enforcement Against Russian Government and...

The Volkov Law Group on

As part of the United States governments effort to support Ukraine in its war against Russia, the Biden Administration sent to Congress a number of legislative proposals in addition to a supplemental request for an additional...more

WilmerHale

The new Economic Crime Bill: can it deliver on its promises?

WilmerHale on

On March 1, 2022, the UK Government put forward the Economic Crime (Enforcement and Transparency) Bill. The stated aim of the legislation is to “crack down on dirty money in the UK and corrupt elites”, and it is designed to...more

BCLP

Crypto Regulation by any Other Name

BCLP on

2022 was billed as the year regulation will descend on the cryptocurrency (“crypto”) and decentralized finance (“DeFi”) spaces. While it seems regulation may indeed be coming, it initially appears to be buried in lengthy...more

K2 Integrity

Art and AML: Regulators Taking a Broad Brush Approach Using Financial Entity Regulatory Compliance as the Model for the Art World

K2 Integrity on

What do people see when they look at a piece of fine art—such as a painting by Cezanne, a sculpture by Giacometti, or a three-dimensional combine by Rauschenberg? To a great extent, it depends on who’s doing the looking. An...more

Ballard Spahr LLP

Proposed AML Reforms Aim to Enhance and Modernize AML/CFT Enforcement

Ballard Spahr LLP on

Second Post in a Two-Post Series on the ILLICIT CASH Act - A discussion draft of legislation recently introduced in the Senate, the Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal...more

Ballard Spahr LLP

Lawmakers Renew Effort to Overhaul AML Laws, Including Greater Beneficial Ownership Transparency

Ballard Spahr LLP on

The Issue of Who Truly Runs and Owns Entities Contines to Gnaw at Congress and Law Enforcement - First Post in a Two-Post Series on the ILLICIT CASH Act - On June 10, a bipartisan group of lawmakers in the U.S. Senate...more

Ballard Spahr LLP

Congressional Funding Bill Pursues Approval of Financial Services for Marijuana Industry Through the (Temporary) Backdoor

Ballard Spahr LLP on

As we have blogged, there is perplexing, significant and ongoing uncertainty regarding just how federal criminal and Bank Secrecy Act laws will be – or will not be – enforced against financial institutions providing banking...more

Ballard Spahr LLP

Proposed Kleptocracy Asset Recovery Rewards Act Adds Whistleblower Incentives and Protections

Ballard Spahr LLP on

Proposed Legislation Creates Rewards Program for Whistleblowers of Foreign Government Corruption - Third Post in a Three-Post Series - Newly proposed legislation, if passed, will authorize a whistleblower program for...more

Ballard Spahr LLP

Corporate Transparency Act of 2019 Broadens Beneficial Ownership Reporting

Ballard Spahr LLP on

In early March, the House Financial Services Committee released three proposed bills to codify many of the suggested reforms discussed during ongoing conversation among financial agencies, law enforcement, financial...more

Ballard Spahr LLP

The House Financial Services Committee Releases Proposed Legislation to Codify BSA/AML Reform Initiatives

Ballard Spahr LLP on

Last week, the House Financial Services Committee released three proposed bills to codify many of the reform ideas that have arisen in an ongoing conversation among financial agencies, law enforcement, financial institutions,...more

Ballard Spahr LLP

FinCEN, OCC and FBI Offer Diverging Views on AML Reform in U.S. Senate Testimony

Ballard Spahr LLP on

First Post in a Two-Part Series - Late last week, the U.S. Senate Committee on Banking, Housing, and Urban Affairs (the “Banking Committee”) met in open session to conduct a hearing on “Combating Money Laundering and Other...more

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