Many financial institutions will confront a new compliance challenge on May 25, 2018, the effective date of the European Union’s revamped data privacy law, the General Data Protection Regulation (“GDPR”). In short, GDPR data...more
Last week the Financial Crimes Enforcement Network (FinCEN) issued much-anticipated Frequently Asked Questions (FAQs) that provide additional guidance to financial institutions relating to the implementation of the new...more
The Financial Crimes Enforcement Network (FinCEN) on May 11 released its long-awaited Final Rule (CDD Rule) that will require certain financial institutions to “look through” the nominal account holder to identify the...more
6/2/2016
/ Anti-Money Laundering ,
Beneficial Owner ,
Covered Financial Institutions ,
Customer Due Diligence (CDD) ,
Customer Identification Program (CIP) ,
FATF ,
Final Rules ,
FinCEN ,
Legal Entities ,
Panama Papers ,
Risk-Based Approaches ,
Suspicious Activity Reports (SARs)