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Hallmark 4- Risk Assessments

One cannot really say enough about risk assessments in the context of anti-corruption programs. Since at least 1999 the DOJ has said that risk assessments that measure the likelihood and severity of possible Foreign Corrupt...more

FCA fines Barclays £72 million for poor handling of financial crime risks

FCA has fined Barclays Bank (Barclays) £72,069,400 for failing to minimise the risk of being used to facilitate financial crime. Barclays arranged and executed a £1.9 billion transaction which involved several ultra high net...more

The Fourth European Union Anti-Money Laundering Directive and Its Effects on Financial Institutions Operating in the EU

The Fourth European Union Anti-Money Laundering Directive (Fourth AML Directive), approved by the European Parliament on May 20, 2015, went into effect on June 25, 2015, repealing the 2005 Third AML Directive. Given the...more

Stricter Anti-Money Laundering Controls on Tap for EU Banks and Financial Companies

Financial businesses operating in the European Union will need to consider implementing stricter anti-money-laundering and anti-terrorism-financing controls or face a potential fine of up to 10 percent of their annual...more

Revival of the Direct Charitable IRA Transfer

The new Fiscal Cliff legislation, H.R.8, the “American Taxpayer Relief Act” (“ATRA”) extends the Direct Charitable IRA Transfer treatment through December 31, 2013. This means that Donors age 70½ or older can ask their IRA...more

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