On February 15, 2024, the U.S. Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network (FinCEN) issued a long-anticipated Notice of Proposed Rulemaking (NPRM) to impose comprehensive anti-money laundering...more
3/22/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Financial Institutions ,
FinCEN ,
Investment Adviser ,
Popular ,
Proposed Regulation ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
The emergence of digital assets has brought new risks and challenges, including the potential exploitation of the technology to facilitate financial crime.
The U.S. Department of Justice has committed to work with its law...more
1/10/2023
/ Bank Secrecy Act ,
Civil Liability ,
Criminal Liability ,
Cryptoassets ,
Department of Justice (DOJ) ,
Digital Assets ,
Economic Sanctions ,
Enforcement Priorities ,
Fraud ,
Securities Fraud ,
Wire Fraud
The Financial Crimes Enforcement Network (“FinCEN”) has continued a spate of regulatory activity related to financial crimes compliance matters in the first year of the Biden Administration, recapped in its recent report...more
7/15/2021
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Biden Administration ,
Compliance ,
Cybersecurity ,
Drug Trafficking ,
Enforcement Priorities ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Human Trafficking ,
No-Action Letters ,
Nonbank Firms ,
Ransomware ,
Significant Transnational Criminal Organization ,
Terrorism Funding ,
Virtual Currency
Anti-money laundering (“AML”) issues have been a focus of regulators and law enforcement for the past decade and will likely continue to be a priority issue area for the Biden Administration. The AML landscape is shifting...more
2/12/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
BSA/AML ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
FinCEN ,
Money Laundering ,
NDAA ,
Patriot Act ,
Risk Assessment ,
Suspicious Activity Reports (SARs)
In this alert, we summarize recent guidance from federal regulators and self-regulatory organizations - including the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), the Office of...more
4/28/2020
/ Anti-Money Laundering ,
Bank Secrecy Act ,
CARES Act ,
Compliance ,
Coronavirus/COVID-19 ,
Financial Crimes ,
Financial Fraud ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Stimulus ,
Paycheck Protection Program (PPP)