News & Analysis as of

Transparency Money Laundering

Ballard Spahr LLP

Digital Planning Podcast Episode: Estate Planning and the Corporate Transparency Act

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On this episode of the Digital Planning Podcast, Jen Zegel, Justin Brown, and Ross Bruch dive into the intricacies of the Corporate Transparency Act (CTA) with special guest, corporate and finance attorney, Ashleigh Taylor,...more

Foodman CPAs & Advisors

Acciones Clave GAFI Febrero 2024

El 02/23/24, el Grupo de Acción Financiera Internacional (GAFI o “FATF”), una entidad intergubernamental independiente que desarrolla políticas para la protección de nuestro sistema financiero global contra el lavado de...more

Foodman CPAs & Advisors

FATF Key Actions February 2024

On 2/23/24, the Financial Action Task Force (FATF), an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering, terrorist financing and financing of...more

K2 Integrity

FinCEN Proposes New Regulation To Enhance Transparency In Convertible Virtual Currency Mixing And Combat Terrorist Financing

K2 Integrity on

Summary of What Has Happened and What Is Yet to Come - On 19 October 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a Notice of Proposed Rule Making (NPRM), pursuant to...more

Womble Bond Dickinson

Sportswashing: The New Money Laundering and Sanctions Avoidance Mechanism

Womble Bond Dickinson on

In the world of international finance and crime, criminals and terrorists have always sought innovative ways to launder money and avoid sanctions. One relatively recent method that has gained prominence is known as...more

BCLP

The Economic Crime and Corporate Transparency Act receives Royal Assent

BCLP on

The Economic Crime and Corporate Transparency Act (ECCTA) introduces a suite of wide-ranging reforms to tackle economic crime and improve transparency over corporate entities. Under the ECCTA, Companies House will have...more

Skadden, Arps, Slate, Meagher & Flom LLP

FinCEN Proposes To Designate Convertible Virtual Currency Mixing as a Primary Money Laundering Concern

The Proposed Rule Aims To Increase Transparency in CVC Mixing - On October 19, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a notice of proposed rulemaking (Proposal)...more

Patton Sullivan Brodehl LLP

The “DAO Jungle” Chronicles: Federal Judge Upholds Treasury Department’s Sanction of Tornado Cash for Involvement in Laundering...

In two prior posts, this blog tracked the ongoing intrigue of how the various branches of the United States government interact with blockchain and cryptocurrency organizations. We discussed the Wyoming law allowing...more

Proskauer Rose LLP

UK Corporate Transparency - Sweeping Changes on the Horizon

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In February 2022, the UK Government published the Corporate Transparency and Register Reform White Paper (the “White Paper”), which set out its plans to reform Companies House and increase the transparency of UK corporate...more

Ankura

The Future of Governance in Sport

Ankura on

At the recent Leaders Week London conference, our team had the opportunity to meet with key professionals in the Sports industry and discuss some of the business challenges they are facing. Unsurprisingly, many of these...more

Mintz Edge

FinCen Publishes Final Rule on Beneficial Ownership Requirements - a Critical Step Towards Heightened Transparency in U.S....

Mintz Edge on

On January 1, 2021, Congress passed the Corporate Transparency Act (“CTA” or the “Act”) to “better enable critical national security, intelligence and law enforcement efforts to counter money laundering, financing of...more

A&O Shearman

Real Estate Investment in the Age of Beneficial Ownership Information Reporting

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On September 29, 2022, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued its highly anticipated final Beneficial Ownership Information (BOI) reporting provisions (Final Rule), thereby...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for July 2022

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption developments from the past month, with links to...more

A&O Shearman

UK Economic Crime Bill Introduced to Parliament

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The Economic Crime (Transparency and Enforcement) Bill has been introduced into Parliament, following the initial publication yesterday. The Bill is designed to increase transparency and enhance the U.K.'s mitigation of money...more

Holland & Knight LLP

FinCEN Seeks Public Input to Reduce Vulnerability of Real Estate Market to Money Laundering

Holland & Knight LLP on

The Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (Notice) on Dec. 9, 2021, requesting public comment on ways to enhance the transparency of the domestic real estate market...more

Greenbaum, Rowe, Smith & Davis LLP

An Overview Of The Corporate Transparency Act

The Corporate Transparency Act (CTA), a segment of the larger National Defense Authorization Act for Fiscal Year 2021, was enacted into law on January 1, 2021. The legislative intent of the CTA is to combat money laundering...more

McDermott Will & Emery

Congress Passes the Corporate Transparency Act with Veto-Proof Majority

McDermott Will & Emery on

On December 11, 2020, and by a veto-proof majority, the US Senate joined the House of Representatives in passing the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the...more

ArentFox Schiff

Piercing the Corporate Shell: New Legislation Will Force Anonymous Shell Companies to Disclose Their True Owners

ArentFox Schiff on

Three months after a leak and investigation into over $2 trillion in suspect transactions at the world’s largest banks and financial institutions, known as the “FinCEN Files,” Congress passed legislation that would require...more

Hogan Lovells

Luxembourg Fiduciary Contracts and Trusts Register: Time to get prepared

Hogan Lovells on

The Luxembourg law of 10 July 2020 (the "Trust Register Law") establishing a Luxembourg Register of fiduciary contracts and trusts (the "Trust Register") will enter into force on 17 July 2020. ...more

Ballard Spahr LLP

Treasury Department’s 2020 National Illicit Finance Strategy: Aspirations for BSA/AML Modernization and the Combatting of Key...

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First in a Two-Post Series - The U.S. Department of Treasury (“Treasury”) has issued its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”)....more

Ballard Spahr LLP

United States “Beats” Switzerland as a Perceived Global Haven for Money Laundering and Tax Evasion

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The Cayman Islands Receive “Top Honors.”  But, Global Financial Transparency is Reportedly Improving in General - The United States has overtaken Switzerland as a financial secrecy haven, according to the latest rankings –...more

Foodman CPAs & Advisors

What is Next after BSA turns 50?

On 2/6/2020, the U.S. Department of the Treasury issued the 2020 National Strategy for Combating Terrorist and Other Illicit Financing (2020 Strategy).  The purpose of the 2020 Strategy is to...more

Ballard Spahr LLP

FinCEN Stresses Transparency, BSA Filing Data, and Perils of “Under- Regulating” to Securities Industry

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Last Thursday, FinCEN Deputy Director Jamal El-Hindi appeared at the 20th annual Anti-Money Laundering (AML) and Financial Crimes Conference hosted by the Securities Industry and Financial Markets Association (SIFMA) in New...more

Kramer Levin Naftalis & Frankel LLP

OCIE Releases 2020 Examination Priorities

The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) published its 2020 Examination Priorities, an annual publication that enhances transparency and provides insights into...more

The Volkov Law Group

FCPA 2019: A Record Year in Enforcement and Compliance (Part I of III)

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Happy New Year!! In the FCPA arena, 2019 was a record year – in enforcement and compliance. Many continuing trends are becoming more than trends – meaning they are turning into established practices....more

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