Regulatory Ramblings: Episode 78 - How Well Does the Money Laundering Control System Work? Spotlight on: Rethinking AI Regulation: Why Current Approaches Fall Short
Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Recent Developments in Anti-Money Laundering - The Consumer Finance Podcast
Investment Management Update – Exit Strategies
The Trump Administration’s removal of former Venezuelan president Nicolás Maduro and recent announcements regarding the development of natural resources in Venezuela portend the United States’ renewed focus on the Western...more
The Court of Appeal’s judgement in Various Claimants v. Standard Chartered plc is a significant decision on whether an English court may compel disclosure of documents that are confidential under foreign regulatory regimes –...more
Welcome to Goodwin’s Financial Services News Roundup. Our newsletter highlights important legal, regulatory, and business developments related to financial services and banking....more
On January 9, the U.S. Treasury announced a series of measures aimed at addressing alleged widespread government benefits fraud in Minnesota, purporting that billions of taxpayer dollars were lost to what the Treasury deemed...more
In December, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a $3,500,000 civil penalty against Paxful, Inc. and Paxful USA, Inc. (“Paxful”), pursuant to a consent order. Paxful is an...more
On December 31, 2025, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) finalized a two‑year delay of the effective date for the anti-money laundering/counter-financing of terrorism (AML/CFT)...more
FinCEN has now adopted its previously‑proposed two‑year delay in the effective date for the investment adviser AML rule (including the requirements to establish AML programs and file SARs) until January 1, 2028. FinCEN...more
On January 9, 2026, the U.S. Department of Treasury issued a Geographic Targeting Order and FinCEN Alert to enhance financial activity reporting and combat fraud in Minnesota....more
On January 9, 2026, U.S. Treasury Secretary Scott Bessent announced a series of new federal actions focused on schemes to defraud federal aid programs. Treasury’s announcement follows a series of high-profile investigations...more
On December 22, FinCEN announced a multi-tiered operation targeting more than 100 money services businesses (MSBs) operating along the southwest border for potential noncompliance with BSA/AML regulations. ...more
The Financial Crimes Enforcement Network (“FinCEN”), a bureau of the U.S. Department of the Treasury (the “Treasury”), issued a final rule (the “Final Rule”), adding investment advisers to the definition of “financial...more
On December 31, 2025, the U.S. Department of the Treasury’s (“Treasury”) Financial Crimes Enforcement Network (FinCEN) issued a final rule formalizing its previously announced intention to reassess the specific requirements...more
On December 22, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a multifaceted data-driven operation to address potential money laundering, focused on more than 100 U.S....more
On December 9, 2025, the US Department of Justice (“DOJ”) announced a guilty plea by a peer-to-peer convertible virtual currency exchange (the “CVC Exchange”) for conspiring to: (i) violate the Travel Act; (ii) operate an...more
The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) released its latest Financial Trend Analysis (FTA) this month, reporting data from banks and other financial institutions showing that, following...more
For the first time, FinCEN’s press release announcing an enforcement action includes a section describing key “Compliance Considerations” arising from the case. This section mirrors an identically titled section that has for...more
On December 9, FinCEN announced a consent order imposing a $3.5 million civil money penalty on a peer-to-peer virtual asset trading platform, alleging willful violations of the Bank Secrecy Act. FinCEN alleged that the...more
On December 9, FinCEN announced a consent order levying a $3.5 million civil money penalty against a peer-to-peer virtual currency trading platform for willful BSA violations. FinCEN alleged the company facilitated more than...more
Reporting entities are already familiar with the real challenges that can arise when seeking to meet their customer due diligence and ML/TF risk management obligations without engaging in “tipping off”. While recent changes...more
On December 5, the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) jointly rescinded the 2013 Interagency Guidance on Leveraged Lending and the 2014 FAQs, citing that the...more
Let us say what compliance officers whisper in hallways but rarely commit to writing: Quality control (QC) in financial crime has been the organizationally orphaned stepchild for decades — not the kind that gets sympathy, but...more
On November 28, FinCEN issued an alert as part of Treasury’s efforts to combat exploitation of the U.S. financial system by individuals without legal status seeking to remit potentially illicit funds. ...more
While the Department of Justice (DOJ) has retreated from certain cryptocurrency enforcement matters, it remains keenly focused on protecting cryptocurrency investors from fraud. To that end, on November 12, 2025, the DOJ and...more
Much like the tale of "The Emperor's New Clothes," where truth is clouded by fear and conformity, organisations encounter similar obstacles in developing their Financial Crime (FC) Risk Appetite Statements (RAS). This paper...more
In August 2024, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) published a sweeping new rule aimed at increasing transparency in residential real estate transactions—marking a significant...more