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FinCEN › Reporting Requirements › Data Protection

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of... more +
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -
Nelson Mullins Riley & Scarborough LLP

Corporate Transparency Act Reporting Obligations Reinstated; Deadline Extended 30 Days

Nelson Mullins Riley & Scarborough LLP on

On February 19, 2025, FinCEN released a statement that BOI reporting obligations under the CTA are back in effect, after a recent U.S. District Court decision in the ongoing case of Smith et al. v. U.S. Department of the...more

Lowenstein Sandler LLP

Data Protection Demands Complicate CTA Compliance

Lowenstein Sandler LLP on

On Jan. 1, the Corporate Transparency Act (CTA) went into effect, premised on the belief that illicit actors use corporate structures like shell companies and fronts to hide their identities and launder criminal proceeds...more

Lowenstein Sandler LLP

Reporting Companies Under the Corporate Transparency Act Beware: Using Service Providers to Comply Creates New Data Privacy Risk

Lowenstein Sandler LLP on

The Corporate Transparency Act (CTA), which became effective on January 1, requires that U.S. and foreign companies authorized to do business in the U.S. (each, a Reporting Company) report specific personal information...more

Neal, Gerber & Eisenberg LLP

Client Alert: Beware of Fake CTA Reporting Requests

Neal, Gerber & Eisenberg LLP on

The Corporate Transparency Act (CTA), a law intended to enable the Financial Crimes Enforcement Network (FinCEN) to detect shell companies and protect the U.S. financial system from abuse by money launderers, drug...more

Foley & Lardner LLP

What You Need to Know about the Corporate Transparency Act

Foley & Lardner LLP on

On January 1, 2021, Congress passed the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the CTA).1 The CTA requires all U.S. businesses to file “beneficial ownership”...more

Carlton Fields

Banks to Broaden Reporting of Suspicious Cyber Activity; Regulators Propose “Enhanced” Cybersecurity Standards

Carlton Fields on

The fourth quarter of 2016 has seen an uptick in regulatory activity respecting the financial services sector in the cybersecurity space, both at the state level as previously discussed (here) and on the federal level....more

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