On December 14, the Financial Crimes Enforcement Network (“FinCEN”) issued a request for information (“RFI”), seeking comment on ways to “streamline, modernize, and update” the anti-money laundering (“AML”) and...more
On September 23, the Financial Crimes Enforcement Network (“FinCEN”) issued an advance notice of proposed rulemaking (“ANPRM”) to solicit comment on questions related to the implementation of anti-money laundering (“AML”)...more
Fourth and Final Post in a Series on the FATF Plenary Outcomes -
As we have previously blogged, the Financial Action Task Force (“FATF”) held its fourth Plenary on June 21-25, inviting delegates from around the world to...more
In the rainforests of Guatemala, Honduras and Nicaragua, the fires often start when drug traffickers try to clear large swaths of land. Due to the dry bush and lack of rainfall, the flames often spread out of control, but in...more
In the past month, the Government Accountability Office (“GAO”), a non-partisan legislative agency that monitors and audits government spending and operations, has issued a series of reports urging banking regulators and...more
Case Sheds Light on Latest Methods to Evade Detection: “Peeling” Chains -
On March 2, the U.S. government sanctioned and indicted two Chinese nationals for helping North Korea launder nearly $100 million in stolen...more
3/12/2020
/ Bitcoin ,
Brokers ,
China ,
Civil Forfeiture ,
Corruption ,
Criminal Conspiracy ,
Criminal Prosecution ,
Cryptocurrency ,
Currency Exchange ,
Financial Crimes ,
Foreign Nationals ,
Hackers ,
Money Laundering ,
Money Transmitter ,
North Korea ,
Sanctions ,
Virtual Currency ,
White Collar Crimes ,
Wire Fraud
The Issue of Who Truly Runs and Owns Entities Contines to Gnaw at Congress and Law Enforcement -
First Post in a Two-Post Series on the ILLICIT CASH Act -
On June 10, a bipartisan group of lawmakers in the U.S. Senate...more
6/20/2019
/ Bank Secrecy Act ,
Beneficial Owner ,
BSA/AML ,
Financial Crimes ,
Financial Regulatory Reform ,
FinCEN ,
Legislative Agendas ,
Money Laundering ,
Proposed Legislation ,
Regulatory Requirements ,
Transparency
“V-bucks,” the in-game virtual value currency of the wildly popular video game, Fortnite, is reportedly being used to launder the proceeds of stolen credit cards....more
1/30/2019
/ BSA/AML ,
Dark Web ,
Digital Assets ,
Financial Crimes ,
Financial Transactions ,
FinCEN ,
Mobile Apps ,
Money Laundering ,
Money Services Business ,
Money Transmitter ,
Online Gaming ,
Regulatory Standards ,
Video Games ,
Virtual Currency
On August 29, the Wall Street Journal reported (paywall) a story that other news outlets later have picked up: the Department of Justice (“DOJ”) is investigating whether Jho Low, a Malaysian businessman at the center of the...more