On August 8, 2023, the American Bar Association (“ABA”) House of Delegates voted overwhelmingly (216–102) to pass Revised Resolution 100 (the “Resolution”), which in turn revised ABA Model Rule of Professional Conduct 1.16...more
On July 28th, Senators Elizabeth Warren (D-Mass), Roger Marshall (R-Kan.), Joe Manchin (D-W.Va.) and Lindsey Graham (R-S.C.), reintroduced the Digital Asset Anti-Money Laundering Act (the “Act”), legislation aimed at closing...more
8/14/2023
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
CFTC ,
Corporate Transparency Act ,
Digital Assets ,
FBAR ,
Financial Crimes ,
Financial Institutions ,
Financial Regulatory Reform ,
FinCEN ,
Money Laundering ,
Money Services Business ,
NDAA ,
Proposed Legislation ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
On September 13, the United States Attorney’s Office for the Eastern District of New York announced that defendant Hanan Ofer pleaded guilty to “failing to maintain an effective anti-money laundering program.” Ofer and his...more
Global AML Compliance Faces Challenges Relating to Regulator Expertise, the Travel Rule, Decentralized Finance, and “Regulator Shopping”...more
The U.S. Department of Justice (DOJ) earlier this week announced that it was disbanding the Financial Fraud Enforcement Task Force, established under the Obama Administration. ...more
7/16/2018
/ Consumer Financial Products ,
Consumer Fraud ,
Department of Justice (DOJ) ,
Digital Currency ,
Elder Abuse ,
Executive Orders ,
Exploitation ,
Federal Agency Taskforce ,
Financial Crimes ,
Financial Services Industry ,
Investment Products ,
Money Laundering ,
Regulatory Oversight ,
Tribal Governments
PANA Issues Recommendations to European Parliament: Tougher Enforcement, Greater Transparency, Improved Information Sharing and Prohibitions Against Outsourcing of Customer Due Diligence....more
10/27/2017
/ Banking Sector ,
BSA/AML ,
Customer Due Diligence (CDD) ,
EU ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Money Laundering ,
Offshore Funds ,
Panama Papers ,
Popular ,
Regulatory Oversight ,
Suspicious Activity Reports (SARs) ,
Tax Avoidance ,
Tax Evasion