FinCEN, U.S. Commerce Department

AI in 2024: What Every GC Needs to Know

ArentFox Schiff on 2/6/2024

As we enter into this second full year of the artificial intelligence (AI) revolution, a clear understanding of the technology and its legal implications becomes crucial for every General Counsel (GC). From understanding...more

7 Enforcement Predictions For US Export Controls, Sanctions

Akin Gump Strauss Hauer & Feld LLP on 12/14/2023

Within the trade bar there is cautiousness, curiosity and skepticism at the numerous pronouncements signaling greater enforcement of export controls and sanctions by the Bureau of Industry and Security, the Office of Foreign...more

Control De Exportaciones: Señales De Alerta De FinCEN

Foodman CPAs & Advisors on 11/30/2023

El 6/11/23, la Oficina de Industria y Seguridad (“BIS” o “Bureau of Industry and Security”) del Departamento de Comercio y FinCEN emitieron un Aviso Conjunto sobre la evasión del control de exportaciones destacando un nuevo...more

Export Control FinCEN Red Flags

Foodman CPAs & Advisors on 11/30/2023

On 11/6/23, the Department of Commerce’s Bureau of Industry and Security (BIS) and FinCEN issued a joint notice regarding export control evasion highlighting a new Suspicious Activity Report key term (“FIN-2023-GLOBALEXPORT”)...more

Nota De Cumplimiento Del BIS, DOJ Y OFAC

Foodman CPAs & Advisors on 10/25/2023

El 26/07/2023, el Departamento de Justicia de los EE. UU. (DOJ), la Oficina de Industria y Seguridad del Departamento de Comercio de los EE. UU. (BIS) y la Oficina de Control de Activos Extranjeros (OFAC) del Departamento del...more

Compliance Note From BIS, DOJ & OFAC

Foodman CPAs & Advisors on 10/25/2023

On 07/26/2023, the U.S. Department of Justice (DOJ), the U.S. Department of Commerce’s Bureau of Industry and Security (BIS), and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), issued a...more

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - October 2023

Lowenstein Sandler LLP on 10/12/2023

1. Seagate Technology Gets Largest-Ever BIS Penalty for Sales to Huawei- Seagate Technology LLC recently incurred a $300 million civil penalty from U.S. Department of Commerce’s Bureau of Industry and Security (BIS) due to...more

Federal Agencies Highlight Benefits of Self-Disclosure, Emphasize Enforcement of Trade Violations in Tri-Seal Compliance Note

Jones Day on 8/22/2023

In a coordinated announcement, federal agencies stress the benefits of voluntarily disclosing potential trade violations while emphasizing increased enforcement....more

The Government Continues to Prioritize Export Control and Sanctions Enforcement Highlighted in New Tri-Seal Compliance Note and...

Husch Blackwell LLP on 8/16/2023

On Wednesday, July 26, the Departments of Commerce, Treasury, and Justice issued a Tri Seal Compliance Note detailing the voluntary self-disclosure of potential violations for export controls, sanctions, and other national...more

DOJ OFAC BIS Joint Compliance Note and Enhanced Coordination Highlights Increased Enforcement Risk

Paul Hastings LLP on 8/4/2023

On July 26, 2023, the U.S. Departments of Justice, Treasury, and Commerce issued a joint compliance note (“JCN”) regarding voluntary self-disclosure (“VSD”) policies that apply to potential violations of U.S. sanctions...more

DOJ, BIS, and OFAC Issue Tri-Seal Compliance Note Regarding Self-Disclosure of Potential Sanctions Violations

Foley Hoag LLP on 8/3/2023

On July 26, 2023, the U.S. Department of Justice’s (“DOJ”) National Security Division (“NSD”), the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”), and the U.S. Department of the Treasury’s Office of...more

U.S. agencies signal reinforced export enforcement collaboration and partnership

Hogan Lovells on 8/2/2023

The U.S. Departments of Commerce, Justice and Treasury have issued a “Tri-Seal” Compliance Note regarding national security laws and regulations and the voluntary self-disclosure of potential violations, highlighting...more

Departments of Justice, Commerce and Treasury Issue Tri-Seal Compliance Note on Voluntary Self-Disclosure of Potential Violations

McGuireWoods LLP on 7/31/2023

On July 26, 2023, the U.S. Department of Justice’s National Security Division, U.S. Department of Commerce’s Bureau of Industry and Security, and U.S. Department of the Treasury’s Office of Foreign Assets Control issued a...more

BIS Implements Additional Export Controls and Entity List Additions Targeting Russia to Align with Allies and Partners

Husch Blackwell LLP on 5/23/2023

On May 19, 2023, the Department of Commerce’s Bureau of Industry and Security (“BIS”) announced new export controls and Entity List additions during President Biden’s G7 visit in Japan. In conjunction with the G7 meetings,...more

Commerce Raises Enforcement and Compliance Profile

A&O Shearman on 5/4/2023

On April 18, 2023, the U.S. Department of Commerce (“Commerce”)’s Assistant Secretary for Export Enforcement issued a Memorandum titled “Clarifying Our Policy Regarding Voluntary Self-Disclosures and Disclosures Concerning...more

A New Risk Calculus: U.S. Department of Commerce Raises Stakes for Failing to Voluntarily Self-Disclose Potential Export Controls...

Dechert LLP on 4/26/2023

On April 18, 2023, the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) Assistant Secretary for Export Enforcement, Matthew Axelrod, published a memorandum marking a shift in policy regarding voluntary...more

U.S. Departments of Treasury and State Expand Sanctions To Restrict Russia’s Access to Services and Economics and Combat Evasion...

Husch Blackwell LLP on 7/1/2022

On June 28, 2022, the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a Joint Alert urging financial institutions...more

Crypto Products and Mining Initiatives Launch; Sports and Spirits Firms Embrace Blockchain; US Agencies Seek Crypto Input, Address...

BakerHostetler on 5/23/2022

A well-known digital currency investment services company announced the launch of its first European exchange-traded fund (ETF), according to a press release this week. The ETF, which will be traded on multiple foreign...more

FinCEN › U.S. Commerce Department