News & Analysis as of

Technology Money Laundering

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Sheppard Mullin Richter & Hampton LLP

Money Laundering and High-Value Art: Treasury’s Study Discusses Financial Crimes and NFTs

With the advent of blockchain technology, vendors are increasingly accepting payments of goods, including artwork, with digital currency. The decentralized nature of digital currency makes it attractive for a lot of reasons,...more

Thomas Fox - Compliance Evangelist

The Wild Wild West and ComTech

Compliance has been pushed more to the forefront in anti-money laundering (AML). As banking institutions, financial institutions and the financial services industries continue to tighten and strengthen AML controls, criminals...more

Ballard Spahr LLP

Florida Lawmakers Seek to Bring Virtual Currency into the Fold

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On Monday, the state of Florida moved a step closer towards amending its money laundering statute to include the nefarious use of bitcoin and other virtual currencies. The bill, H.B. 1379, has sailed through a committee vote...more

Orrick, Herrington & Sutcliffe LLP

Comptroller of the Currency Tom Curry Discusses Fintech Charters

In his remarks at the LendIt Conference in New York, Comptroller of the Currency Tom Curry discussed the special purpose national bank charters to be granted by the OCC to fintech companies and addressed the various...more

Thomas Fox - Compliance Evangelist

Will Blockchain Transform Compliance?

I recently read an article in the MIT Sloan Management Review, entitled “How Blockchain Will Change Organizations”, where authors Don Tapscott and Alex Tapscott speculate that the transformations which blockchain may...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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FinCEN is extending its campaign to press title insurance companies to reveal the real buyers behind shell companies that pay cash for high-end real estate deals in select cities around the country....more

Ballard Spahr LLP

Combating Money Laundering and Terrorist Financing with a Distributed Ledger

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Despite the staggering $8 billion figure estimated to be spent on global compliance in 2017, U.S.-based rules regarding Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) remain anchored in their...more

Ballard Spahr LLP

2016 Year End Review: Virtual Currency: DOJ and IRS Broadly Seek Virtual Currency Account User Information

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Under Internal Revenue Code section 7609(f), the IRS may issue a “John Doe” administrative summons to discover the identities of unknown taxpayers. A “John Doe” summons can be a powerful enforcement tool because it allows the...more

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