Corruption, Customer Due Diligence (CDD)

Fifth Circuit Halts Nationwide Stay of CTA Enforcement

Ballard Spahr LLP on 12/24/2024

The Fifth Circuit has granted the government’s request to stay temporarily the order and injunction issued by the United States District Court for the Eastern District of Texas, which had issued a nationwide stay prohibiting...more

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Guidepost Solutions LLC on 3/7/2024

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

FinCEN and US Federal Banking Agencies Clarify Risk-Based Obligations on Politically Exposed Persons

White & Case LLP on 9/24/2020

The US Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (Agencies)1 issued a joint statement on August 21, 2020, regarding Bank Secrecy Act/anti-money laundering (AML) regulatory requirements for...more

Addressing Beneficial Ownership Requirements in Your Compliance Program (Part I of IV)

The Volkov Law Group on 5/19/2020

We repeatedly hear about the importance of beneficial ownership, and the requirement that companies confirm beneficial ownership of its third-parties, vendors and suppliers. At the same time, there is increasing pressure...more

FATF Upgrades U.S. Customer Due Diligence Regime

K2 Integrity on 4/3/2020

On March 31st the Financial Action Task Force (FATF)—the global AML/CFT standard-setting body and watchdog—announced that it has upgraded the United States for technical compliance with FATF Recommendation 10 following...more

China Emerging as an Increasing Driver of Global Illicit Finance Risk

K2 Integrity on 11/19/2019

Growing Chinese illicit finance threats, vulnerabilities, and exposure are combining to increase illicit financing risk in the international financial system, judging from a series of recent advisories, sanctions actions,...more

Panama Papers Fallout: A Push for Transparency and Regulatory Reform - Sanctions Also Levied Against Several Panama-Based...

Holland & Knight LLP on 5/20/2016

In the wake of the "Panama Papers" – the unprecedented leak of 11.5 million files from a Panamanian law firm that revealed thousands of names and addresses linked to offshore companies – the White House has announced several...more

Corruption › Customer Due Diligence (CDD)