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Money Laundering Banking Sector Banks

McDermott Will & Emery

Von Zahlungsdienstleistern bis zu Profifußballvereinen: Neue EU-Vorschriften zur Bekämpfung von Geldwäsche verabschiedet

McDermott Will & Emery on

Das Europäische Parlament hat am 24. April 2024 ein neues Gesetzespaket zur Geldwäschebekämpfung verabschiedet, welches das Instrumentarium der EU zur Bekämpfung von Geldwäsche und Terrorismusfinanzierung stärken soll....more

Blake, Cassels & Graydon LLP

Publication de la version définitive du règlement pris en vertu de la Loi sur les activités associées aux paiements de détail

La version définitive du règlement pris en vertu de la Loi sur les activités associées aux paiements de détail (la « LAAPD ») sera publiée dans la Gazette du Canada le 22 novembre 2023 (le « Règlement »). Depuis la...more

Blake, Cassels & Graydon LLP

The Wait Is Over: Final Regulations to the Retail Payment Activities Act

The final regulations to the Retail Payment Activities Act (RPAA) will be published in the Canada Gazette on November 22, 2023 (Regulations). Since the release of the draft regulations (Draft Regulations) in February 2023,...more

A&O Shearman

How to De-bank Customers Legally and Fairly: Lessons from Beyond Bank

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Occurrences of de-banking have reportedly been increasing over the last decade1 as financial institutions seek to adapt to a changing regulatory and financial landscape. However taking such steps poses risks to financial...more

A&O Shearman

Regulatory monitoring - June 2023

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ECB in focus is our blog dedicated to the banking supervisory activities of the European Central Bank (ECB). We report on key developments in European banking regulation led by the ECB as part of the Single Supervisory...more

Blake, Cassels & Graydon LLP

Budget Bill 2023: Changes for Financial Institutions

On May 2, 2023, Bill C-47, Budget Implementation Act, 2023, No. 1 received second reading in the House of Commons (Budget Bill). The Budget Bill implements the policy initiatives outlined in the federal government’s 2023...more

Ankura

Digital Banks Lead the Challenge Against Retail Banking Giants

Ankura on

Challenger banks have achieved a great deal of success since they burst on the scene in a big way a decade or so ago to vie with traditional retail banks for a share of the market. The best challengers are consistently...more

Bennett Jones LLP

The Cullen Commission Explores the Issue of Money Laundering Through Virtual Assets

Bennett Jones LLP on

In June 2022, the Final Report of the Commission of Inquiry into Money Laundering in British Columbia was published. As previously reported by us in The Cullen Commission Releases Its Final Report on Money Laundering in...more

Bennett Jones LLP

The Cullen Commission Releases Its Final Report on Money Laundering in British Columbia—Key Takeaways

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On June 15th, 2022 the Commission of Inquiry into Money Laundering in British Columbia released its highly-anticipated Final Report which comes after years of work and a review of extensive evidence, including testimony from...more

A&O Shearman

[Webinar] What’s next for banks: U.S. spotlight on digital assets - April 6th, 1:00 pm - 2:00 pm EDT

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As part of our ongoing series of virtual panel discussions exploring a select number of themes instrumental in shaping the future of the global banking sector, our next webinar will focus on digital assets. In this session,...more

K2 Integrity

Integrity Matters: AML Trends for 2022

K2 Integrity on

On the latest episode of the Integrity Matters podcast, host Tom Fox sits down with Koby Bambilia, K2 Integrity Managing Director, to discuss anti-money laundering (AML) trends to watch in 2022. Regulators will be expecting...more

Ballard Spahr LLP

Real Estate and Money Laundering: FinCEN Issues Advanced Notice of Regulations for the Real Estate Industry

Ballard Spahr LLP on

On December 6, FinCEN announced that it was issuing an Advanced Notice of Proposed Rulemaking (“AMPRM”) to solicit public comment on potential requirements under the Bank Secrecy Act (“BSA”) for certain persons involved in...more

McGlinchey Stafford

BSA, OFAC, KYC, and CIP – What do they mean to me? [More with McGlinchey, Ep. 29]

McGlinchey Stafford on

The Bank Secrecy Act (BSA) and parts of the U.S. Patriot Act’s Office of Foreign Asset Control (OFAC) requirements have seemingly similar goals: to prevent money laundering and the funding of terrorist activities. Yet a...more

American Conference Institute (ACI)

[Event] London Forum on Global Economic Sanctions - November 17th - 18th, London, United Kingdom

Practical Guidance to Staying Compliant with Multiple Regimes - 10th London Forum on Global Economic Sanctions will return on November 17-18, 2021, IN PERSON! This program will provide you with all the current...more

Ballard Spahr LLP

Congress Regulates the Antiquities Market – and Perhaps the Art Market – for AML Compliance:  A Guest Blog.

Ballard Spahr LLP on

Today we are very pleased to welcome guest blogger Tess Davis, who is the Executive Director of the Antiquities Coalition. Tess, a lawyer and archaeologist by training, oversees the organization’s work to fight cultural...more

Blake, Cassels & Graydon LLP

Budget 2021 – Services financiers

INTRODUCTION - Comme la plupart des Canadiens le savent, le gouvernement fédéral a publié son budget de 2021, intitulé Budget 2021 : Une relance axée sur l’emploi, la croissance et la résilience (le « Budget ») le 19 avril...more

Blake, Cassels & Graydon LLP

Budget 2021 - Financial Services

INTRODUCTION - As most Canadians are aware, the federal government released its 2021 budget - Budget 2021: A Recovery Plan for Jobs, Growth and Resilience on April 19, 2021 (Budget). This bulletin will summarize the...more

American Conference Institute (ACI)

[Virtual Event] Asia Pacific Conference on Economic Sanctions Compliance and Enforcement - May 27th - 28th, 9:00 am - 1:15 pm SGT

ACI’s Asia-Pacific Advanced Conference on Economic Sanctions Compliance and Enforcement is the largest sanctions gathering in Asia for financial institutions and global exporters. This unique conference features senior...more

American Conference Institute (ACI)

[Virtual Event] Anti-Money Laundering and Financial Crime - May 4th - 5th, 9:45 am - 5:15 pm EST

The Canadian Institute’s 20th Canadian Annual Forum on AML and Financial Crime is a curated program, dedicated to addressing pressing industry challenges through in-depth analysis of the financial crime landscape and industry...more

A&O Shearman

Bank terminates customer relationship without notice for “exceptional circumstances” on suspicion of financial crime and money...

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The High Court has held that a bank’s right to terminate a customer relationship without notice in “exceptional circumstances” covers a situation in which an authorised payment institution’s accounts have been determined by...more

A&O Shearman

U.S. continues aggressive sanctions and anti-money laundering enforcement against non-U.S. banks

A&O Shearman on

When assessing anti-money laundering risk and exposure, global financial institutions should be mindful of the complex landscape and assertions of broad authority by U.S. authorities and banking regulators. A multinational...more

Dechert LLP

FCA Enforcement Risk: The Year Ahead

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Firms will need to ensure their systems and controls to prevent financial crime and money laundering are working effectively: this is just part of the message contained in the FCA’s Business Plan for 2019/20. The Business...more

Pillsbury - Internet & Social Media Law Blog

Artificial Intelligence and Money Laundering: Would AI Catch Marty Byrde?

In the popular Netflix series Ozark, money launderer Marty Byrde expends a lot of time and energy mitigating the risks that relate to his work, including his drug cartel client, a pair of farmers, the local pastor, and his...more

A&O Shearman

Bank ordered to disclose suspicious activity reports to customer

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Lonsdale v National Westminster Bank [2018] EWHC 1843 (QB) (18 July 2018) - A bank was ordered to disclose, to a customer, suspicious activity reports (SARs) that the bank had sent to the National Crime Agency (NCA) at the...more

K&L Gates LLP

Obstructing Bank Examinations Is a Costly Crime

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Recently, an American bank entered into a deferred prosecution agreement requiring it to pay over US$610 million in penalties. The plea agreement was based on “impos[ing] hard caps on the number of transactions subject to AML...more

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