The concept of the shadow financial system rose to international prominence in the aftermath of the 9/11 terrorist attacks. In an interview with a Pakistani newspaper a month later, Osama bin Laden stated that Al Qaeda were...more
6/18/2024
/ Anti-Money Laundering ,
CFTC ,
Cross-Border Transactions ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
International Trade Commission (ITC) ,
Know Your Customers ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Recordkeeping Requirements ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
UK ,
Virtual Currency
The Financial Action Task Force ("FATF") is the global standard-setter on anti-money laundering ("AML"), countering terrorist financing ("CFT") and counter proliferation financing. FATF's standards, also referred to as...more
10/31/2023
/ AML/CFT ,
Anti-Money Laundering ,
Cross-Border Transactions ,
EU ,
FATF ,
Financial Institutions ,
Financial Transactions ,
Money Laundering ,
Popular ,
Terrorism Funding ,
Terrorist Financing Regulations
Cyber attacks are a national security concern in the UK. While individuals can be victims of such attacks, private sector institutions are often the direct targets. Cyber attacks can critically damage a commercial reputation...more
7/2/2019
/ Bank of England ,
Cooperation Agreement ,
Cross-Border Transactions ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Memorandum of Understanding ,
Monetary Authority of Singapore ,
Popular ,
Singapore ,
UK
Canada legalised recreational cannabis in October 2018 and it may be that other countries follow suit. UK and US investors, and those who facilitate investments in legal recreational cannabis businesses overseas, need to be...more
3/25/2019
/ Anti-Money Laundering ,
Canada ,
Criminal Liability ,
Criminal Proceeds ,
Cross-Border Transactions ,
Decriminalization of Marijuana ,
Financial Institutions ,
Foreign Investment ,
Investor Protection ,
Marijuana Related Businesses ,
National Crime Agency (NCA) ,
Proceeds of Crime Act 2002 (POCA) ,
Suspicious Activity Reports (SARs) ,
UK
Tech companies of U.S. origin tend to have compliance programs focused on U.S. laws, including the Foreign Corrupt Practices Act (the "FCPA") and relevant tax and labor laws. The UK has enacted laws covering bribery and...more
2/8/2019
/ Bribery ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Criminal Liability ,
Cross-Border Transactions ,
Due Diligence ,
Extraterritoriality Rules ,
Foreign Corrupt Practices Act (FCPA) ,
Modern Slavery Act ,
Risk Assessment ,
Strict Liability ,
Tax Evasion ,
Technology Sector ,
UK ,
UK Bribery Act ,
UK Criminal Finances Act 2017