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Know Your Customers Foreign Financial Institutions (FFI)

Ballard Spahr LLP

Navigating FinCEN’s Actions on Huione Group: Strengthening Defenses Against Money Laundering

Ballard Spahr LLP on

On May 1, 2025, the Financial Crimes Enforcement Network (FinCEN) released a Notice of Proposed Rulemaking (NPRM) regarding the Huione Group, a foreign financial institution located in Cambodia. This proposal, enacted under...more

The Volkov Law Group

OFAC Amends SDN and SSI List Entries to Incorporate Secondary Sanctions Warnings

The Volkov Law Group on

On July 3, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced that it had amended entries for a multitude of entities sanctioned under the Treasury’s Russian Harmful Foreign...more

Foodman CPAs & Advisors

Nuevas Ofensas Penales Relacionadas con Figuras Políticas Extranjeras y Entidades de Lavado de Dinero

Con respecto a los activos que pertenecen a Altos Funcionarios Extranjeros, la Sección 6313 de la Ley ALD del 2020 prohíbe el ocultamiento de la fuente de esos activos en transacciones monetarias o que involucren...more

Foodman CPAs & Advisors

New Criminal Offenses related to Foreign Political Figures and Money Laundering Entities

Regarding assets belonging to Senior Foreign Officials, Section 6313 of the AML Act of 2020 prohibits the concealment of the source of those assets in monetary transactions or involving Institutions of primary Money...more

Williams Mullen

The New US Rules for Export Trade with Hong Kong

Williams Mullen on

Earlier this year, the U.S. Government initiated a series of actions to address the People’s Republic of China’s continuing efforts to undermine the autonomy of the Special Administrative Region of Hong Kong (Hong Kong)....more

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