News & Analysis as of

Risk Management AML/CFT Financial Institutions

Blake, Cassels & Graydon LLP

Refonte du régime LRPC au Canada : Comment rester conforme et répondre à un procès-verbal de CANAFE

Le régime canadien de lutte contre le recyclage des produits de la criminalité (le « régime LRPC ») pourrait bien connaître sa plus importante refonte à ce jour si les modifications radicales proposées à la Loi sur le...more

A&O Shearman

Wolfsberg Group issues statement on the RBA for financial crime risk management

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The Wolfsberg Group (the Group) has released a statement reaffirming its commitment to the risk-based approach (RBA) for financial crime risk management. Further to its 2006 RBA guidance, and in line with the Financial Action...more

Alston & Bird

FinCEN Delays Enforcement of Investment Adviser AML/CFT Rule

Alston & Bird on

Our Financial Services and Investment Funds Teams examine the delay by the Financial Crimes Enforcement Network (FinCEN) of the effective date for the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT)...more

K2 Integrity

Risks Increase As U.S. Escalates Pressure Against Mexico With Regulatory Focus On The Financing Of Fentanyl

K2 Integrity on

The evolving U.S.-Mexico geopolitical relationship is now fundamentally burdened by the growing regulatory, enforcement, and real risks tied to cartel activity, drug trafficking and the fentanyl trade, immigration, and a...more

Mayer Brown

Hong Kong’s Stablecoin Bill: Key Amendments and Next Steps Following Legislative Passage

Mayer Brown on

On 21 May 2025, the Hong Kong Legislative Council passed the much-anticipated Stablecoins Bill (“Bill”), now citable as the Stablecoins Ordinance (“Ordinance”), marking a significant milestone in the city’s ambition to become...more

Thomas Fox - Compliance Evangelist

Compliance Tip of the Day: Citibank and Continuous Monitoring

Welcome to “Compliance Tip of the Day,” the podcast that brings you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements. Whether you’re a seasoned compliance...more

Latham & Watkins LLP

Hong Kong’s Stablecoin Regime Comes Into View

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Taking effect in August 2025, the new legislation will bring issuers of fiat-referenced stablecoins into the regulatory perimeter. By Simon Hawkins, Adrian Fong, and Sam Maxson On 21 May 2025, the Legislative Council of Hong...more

Mayer Brown

Credibly Challenged Podcast: Interview with Ross Delston, Financial Crime Compliance Expert and Former FDIC Attorney

Mayer Brown on

Matt Bisanz interviews Ross Delston, a financial crime compliance expert and former FDIC attorney. They discuss his views on the trends we should expect to see in financial crimefighting and AML compliance over the next few...more

K2 Integrity

[Webinar] Mexico’s Evolving AML/CFT Environment: FATF Review and FTO Designations - May 14th, 12:30 pm ET

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U.S. and Mexican companies and financial institutions are seeking to navigate AML/CFT, sanctions, export control, and tariff and supply chain concerns as their governments’ make rapid changes around trade and tariffs and ramp...more

Conyers

Regulatory & Risk Advisory Review: Cayman Islands – January to March 2025

Conyers on

Welcome to the first 2025 edition of our Regulatory & Risk Advisory Review. In this instalment, we provide a comprehensive overview of the latest regulatory developments to ensure you have the most up-to-date insights into...more

A&O Shearman

UK Conduct Authority publishes report on assessing and reducing the risk of Money Laundering Through the Markets

A&O Shearman on

The Financial Conduct Authority has published a report on assessing and reducing the risk of Money Laundering Through the Markets. Money Laundering Through the Markets is the use of capital markets to launder criminally...more

A&O Shearman

EU Final Guidance on Implementation of EU And National Sanctions

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The European Banking Authority has finalized two sets of guidelines setting common standards on the governance arrangements and the policies, procedures, and controls that financial institutions should have in place to be...more

Morrison & Foerster LLP

Banking Agencies Address Banking Arrangements with Third Parties to Provide Deposit Products and Services

On July 25, 2024, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the “Agencies”) issued a joint statement to banks regarding risks...more

Latham & Watkins LLP

Agencies Issue Joint Proposal to Amend Bank Secrecy Act Compliance Programs for Banks

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On July 19, 2024, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration...more

Troutman Pepper Locke

Federal Banking Agencies Reiterate Guidance on Managing Risks Posed By Fintech Partnerships and Other Third Party Relationships

Troutman Pepper Locke on

Last week, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) issued a joint statement highlighting...more

Ballard Spahr LLP

Treasury Issues RFI on Use of AI in Financial Services

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After several years of monitoring and reporting on artificial intelligence (AI) in financial services, the U.S. Department of Treasury (Treasury) has embarked on initial rulemaking efforts and issued a request for information...more

Ballard Spahr LLP

Treasury Issues Request for Information on Use of AI in Financial Services

Ballard Spahr LLP on

The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”).  Written comments are...more

Ballard Spahr LLP

Federal Banking Agencies Issue Guide to Third-Party Risk Management Practices for Community Banks

Ballard Spahr LLP on

On May 3, 2024, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (“FDIC”), and the Office of the Comptroller of the Currency (“OCC”) jointly released the...more

Ballard Spahr LLP

Recent FDIC Consent Orders Reflect Ongoing Scrutiny of Bank Relationships with Fintechs

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In February 2024, the Federal Deposit Insurance Corporation (FDIC) entered into consent orders with two banks who partner with fintechs to offer “banking as a service” (BaaS) related to safety and soundness concerns relating...more

American Conference Institute (ACI)

[Event] 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 5th - 6th, Toronto, Ontario, Canada

Hosted by the Canadian Institute, the 23rd Annual Canadian Forum on Anti-Money Laundering and Financial Crime returns for another exciting year. The event features carefully curated programming providing practical guidance...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - February 2024 - 3

Editor's Note: The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more

K2 Integrity

[Webinar] Apalancamiento del poder de la inteligencia artificial y el aprendizaje federado en la gestión del riesgo de fraude y...

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Con la rápida adopción y expansión de la inteligencia artificial (IA), nunca ha sido más importante que las empresas y las jurisdicciones sean conscientes del potencial de la IA y cuenten con una estrategia para aprovechar...more

Walkers

Director exemptions: changes to AML obligations

Walkers on

Introduction - Further to a recent update, in which the Government, in consultation with the Jersey Financial Services Commission ("JFSC"), announced its intention to make legislative changes to the anti-money laundering,...more

A&O Shearman

Further efforts are expected from payment institutions for the effective management of money laundering and terrorist financing...

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On 16 June 2023, the European Banking Authority (EBA) published a report on the money laundering and terrorist financing (ML/TF) risks associated with payment institutions (PIs) in the EU, based on a risk assessment exercise...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

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