Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions matters continue to be a core focus of regulators, law enforcement agencies, policymakers and Congress, and the story of the Obama and Trump Administrations on...more
7/29/2019
/ Anti-Money Laundering ,
BSA/AML ,
Cuba ,
Customer Due Diligence (CDD) ,
Drug Trafficking ,
Economic Sanctions ,
Enforcement Actions ,
FinCEN ,
Human Trafficking ,
Iran ,
Magnitsky Act ,
Nicaragua ,
North Korea ,
Russia ,
Sudan ,
Trump Administration ,
Venezuela ,
Virtual Currency
On March 27, 2019, the Office of Foreign Assets Control (OFAC) announced a settlement agreement with US-based Stanley Black & Decker, Inc., (Stanley Black & Decker) and its foreign subsidiary, Jiangsu Guoqiang Tools Co., Ltd....more
4/2/2019
/ Black & Decker ,
Chief Compliance Officers ,
Compliance ,
Corporate Counsel ,
Economic Sanctions ,
Enforcement Actions ,
Exports ,
Foreign Subsidiaries ,
Iran Sanctions ,
Office of Foreign Assets Control (OFAC) ,
Settlement ,
Subsidiaries
Over the past year, regulators continued to actively examine compliance, introduce new and heightened requirements, recalibrate global priorities, and aggressively pursue enforcement. This report reviews recent trends and...more
4/28/2017
/ BSA/AML ,
Cuba ,
Economic Sanctions ,
Enforcement Actions ,
FATF ,
Financial Services Committee ,
FinCEN ,
Iran ,
NYDFS ,
Russia ,
Securities and Exchange Commission (SEC)
In recent years, the U.S. Department of Justice has stepped up its use of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to pursue civil enforcement actions against financial institutions and their...more
The New York Department of Financial Services has issued a proposed regulation that sets forth minimum requirements for anti-money laundering transaction monitoring systems and watch list filtering systems. The proposed...more