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Subpoenas Foreign Banks

Perkins Coie

The Anti-Money Laundering Act of 2020: The Remarkable Expansion of the U.S. Government’s Subpoena Power Over Foreign Financial...

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On New Year’s Day 2021, Congress passed the Anti-Money Laundering Act of 2020 (AMLA). As we reported last April, the AMLA 2020 included sweeping reforms aimed at strengthening protections against money laundering, terrorism...more

Hahn Loeser & Parks LLP

The Anti-Money Laundering Act Of 2020: What Businesses Need To Know Now

The National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) enacted earlier this year includes several provisions that may impose new reporting requirements on both foreign and domestic businesses. NDAA is an...more

White & Case LLP

Patriot Act Subpoenas: Reinvigorated and Reaching Across Borders

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The override of former President Trump's veto of the National Defense Authorization Act of 2021 resulted in the enactment of broad amendments to the US anti-money laundering regime. Among the amendments are provisions to...more

Cohen & Gresser LLP

Anti-Money Laundering Act of 2020 Significantly Expands Reach of Subpoenas of Non-U.S. Banks That Have U.S. Correspondent Accounts

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Non-U.S. banks that maintain correspondent accounts in the United States face the prospect of significantly broader subpoenas from the Department of Justice (“DOJ”) and the Department of Treasury (“Treasury”) as a result of...more

Proskauer Rose LLP

D.C. Circuit Expands U.S. Prosecutors' Reach Over Foreign Bank Documents

Proskauer Rose LLP on

In a recent decision, the U.S. Court of Appeals for the D.C. Circuit unanimously affirmed a district court order compelling three Chinese banks (not currently identified) to produce financial records in response to subpoenas...more

K&L Gates LLP

D.C. Circuit Upholds Foreign Banks’ Contempt for Noncompliance with U.S. Subpoenas in North Korea Sanctions Investigation

K&L Gates LLP on

On August 6, the D.C. Circuit Court of Appeals unsealed its partly redacted decision upholding a civil contempt order against three foreign banks that refused to comply with a subpoena from U.S. authorities to produce bank...more

Ballard Spahr LLP

D.C. Circuit Rules in Favor of Broad Reach of Patriot Act Subpoenas

Ballard Spahr LLP on

On August 6, the U.S. Court of Appeals for the District of Columbia kept in place $50,000-per-day fines on three Chinese banks—whose identities are redacted—for refusing to comply with subpoenas issued by the Department of...more

Williams Mullen

Fourth Circuit Court of Appeals Holds that Required Records Exception Trumps Fifth Amendment

Williams Mullen on

On December 13, 2013, the Fourth Circuit Court of Appeals in United States v. Under Seal, 2013 U.S. App. LEXIS 24785 (4th Cir. Va. Dec. 13, 2013), held that the required records doctrine applies when the government subpoenas...more

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