Terrorism Funding

News & Analysis as of

Wealth Management Update - July 2016

July Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The July § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Your Organization is Impacted by Ransomware - Now What?

Some forms of cyber extortion are automated and not targeted at any specific victim. For example, “ransomware” refers to a type of malware that prevents users from accessing their systems unless, and until, a ransom is paid....more

MAS Withdraws BSI’s Merchant Bank Licence, Yeo Jiawei Charged with Money Laundering

On 24 May 2016, the Monetary Authority of Singapore (MAS) announced that it had served on BSI Bank Limited (BSI) a notice of intention to withdraw its status as a merchant bank in Singapore and will impose financial penalties...more

AML Risks and Foreign Correspondent Banking

With the Panama Papers scandal and government promises of continued aggressive AML enforcement, financial institutions face a variety of risks that require increased vigilance and mitigation strategies....more

Blog: European Parliament Moves To Crack Down On The Use Of Virtual Currencies For Money Laundering & Terrorism

The European Parliament has just published a press release, describing a “move to crack down on [the] use of virtual currencies for money laundering, terrorism“, although that’s not quite what the backstory suggests is about...more

Reality and Trend of China’s Regulation on Payment Service by Non-Financial Institutions 2016

Understanding the payments regulatory environment in China—both the existing regime and pending developments—is essential for companies engaged in cross-border payments activities (particularly non-financial institutions). At...more

Financial Regulatory Developments Focus - April 2016 #2

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Federal Regulators Clarify Bank CIP Obligations for Prepaid Cardholders

Banks and credit unions that issue reloadable, general purpose prepaid cards must apply Customer Identification Program (CIP) procedures to those cardholders, according to guidance issued by the federal banking regulators and...more

UK Financial Regulatory Developments - April 2016 #8

OFSI publishes updated Financial Sanctions Guidance - OFSI has published an updated version of Treasury’s Financial Sanctions Guidance. It provides a guide to the approach OFSI will take when issuing licences and...more

Blog: The 4th Anti-Money Laundering & Terrorist Financing Directive

The 4th Anti-Money Laundering & Terrorist Financing Directive (4AMLD) came into force on 25 June 2015; and the Member States of the European Union are (currently) obliged to transpose it into their national laws by 26 June...more

FinCEN Proposes to Amend Definition of Broker-Dealer in Securities to Include Funding Portals

The Financial Crimes Enforcement Network (FinCEN) proposed to amend the Bank Secrecy Act’s (BSA) definition of “Broker or Dealer in Securities” to include funding portals in order to ensure that funding portals implement...more

European Parliament Draft Report Calls for the Creation of Task Force Devoted to Digital Currencies

A new report published by the European Parliament’s Committee on Economic and Monetary Affairs calls for the establishment of a task force, with its own budget and dedicated staff, that would study digital currencies and...more

UK Financial Regulatory Developments - February 2016 #16

IOSCO responds to global securities markets’ challenges - IOSCO has met to discuss and respond to the many ongoing and emerging challenges facing global securities markets. Participants talked about recent market...more

UK Financial Regulatory Developments - February 2016 #15

EBA finalises guidelines for DGS cooperation agreements - EBA has published its final guidelines on cooperation agreements between deposit guarantee schemes (DGS) under the revised DGS Directive. The Guidelines set out...more

UK Financial Regulatory Developments - February 2016 #13

Treasury renews TAFA designation - Treasury has renewed two designations under the Terrorist Asset Financing etc Act (TAFA). (Source: Treasury renews TAFA designation)... DBIS updates PSC guidance - DBIS has...more

The Financial Report - Volume 5, No. 3 - February 2016 (Global)

Democratic presidential candidates Bernie Sanders and Hillary Clinton have been taking jabs at one another about who would do a better job of holding financial services firms and their employees responsible for misconduct....more

UK Financial Regulatory Developments - February 2016 #11

WMBA updates benchmark calculation methodology - WMBA has made changes to its calculation methodology for measuring Sterling Overnight Index Average (SONIA) and the Repurchase Overnight Index Average (RONIA). These...more

European Commission Announces Action Plan Against Terrorism Financing and Changes to the Fourth AML Directive

On February 2, the European Commission (EC) announced and presented an action plan (Action Plan) against terrorism financing, which includes amendments to the fourth Anti-Money Laundering (AML) Directive that went into effect...more

Blog: European Bitcoin Regulation, And The Gathering And Storage Of Information On Bank And Payment Accounts

As anticipated, the European Council has decided to use the fight against money laundering and terrorist financing as its starting point for the possible regulation of virtual, digital and crypto-currencies; and the gathering...more

BCBS Finalizes Revised General Guide to Account Opening

On February 4, the Basel Committee on Banking Supervision (“BCBS“) published a revised draft of its guidelines on “sound management of risks related to money laundering and financing of terrorism” which comprises the...more

Orrick's Financial Industry Week in Review

Financial Industry Developments - FHFA, Fannie Mae and Freddie Mac Announce Independent Dispute Resolution Program - On February 2, the Federal Housing Finance Agency (the "FHFA") announced that Fannie Mae and...more

U.S. and China Sign Financial Intelligence Cooperation Memorandum

The U.S. Financial Crimes Enforcement Network (FinCEN) and the China Anti-Money Laundering Monitoring and Analysis Center (CAMLMAC) recently signed a Memorandum of Understanding (MOU) to create a “framework to facilitate...more

Second Circuit Panel Declines to Abandon Rule on Corporate Liability Under Alien Tort Statute

On December 8, 2015, the U.S. Court of Appeals for the Second Circuit (“Second Circuit”) issued its decision in In re Arab Bank, PLC Alien Tort Statute Litigation, which involved claims brought against Arab Bank, PLC (“Arab...more

New York Anti-Terror Rules Place Chief Compliance Officers in the Hot Seat

In early December 2015, New York state proposed rules to aid in the fight against terrorism by making it increasingly difficult for terrorist and other criminal organizations to transfer funds globally. As a result of several...more

Basel Committee consults on financial inclusion

The Basel Committee has issued a consultation on proposed guidance for the regulation and supervision of institutions relevant to financial inclusion. The guidance examines the risks presented by banks and non-bank financial...more

67 Results
|
View per page
Page: of 3
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×