News & Analysis as of

Terrorism Funding

Small Businesses: Keep the Corporate Transparency Act on Your Radar

by Barley Snyder on

If the federal legislature passes a controversial new proposal, more information will be required when forming or transferring ownership of certain business entities....more

Combatting Money Laundering and Terrorist Financing Through Enhanced AML Information Sharing

by Ballard Spahr LLP on

This blog focuses on suggested improvements to information sharing between financial institutions, and between financial institutions and governments, to better combat money laundering and terrorist financing....more

AML Information Sharing in the U.S. – Section 314 of the Patriot Act

by Ballard Spahr LLP on

As we recently blogged, the Royal United Services Institute (“RUSI”) for Defence and Security Studies — a U.K. think tank – has released a study: The Role of Financial Information-Sharing Partnerships in the Disruption of...more

Jesner v Arab Bank: corporate liability under the Alien Tort Statute?

by Hogan Lovells on

All eyes are once again on the Supreme Court of the United States (SCOTUS) as it turns its attention to the application of the Alien Tort Statute (ATS) to companies accused of complicity in human rights violations committed...more

Corporate Liability and the Alien Tort Statute: Highlights from the Oral Arguments in Jesner v. Arab Bank

On Wednesday, October 11, the U.S. Supreme Court heard oral arguments in Jesner v. Arab Bank. The case may once and for all determine whether companies are appropriate defendants in cases filed pursuant to the Alien Tort...more

U.S. Announces Revocation of Sudanese Sanctions Regulations: New Opportunities and Familiar Risks

by Ropes & Gray LLP on

On October 6, 2017, the United States government announced that, effective October 12th, the Sudanese Sanctions Regulations (“SSR”) would be officially revoked. The October 6th announcement marked the culmination of a...more

Anti-money laundering bulletin - Autumn 2017

by DLA Piper on

DLA Piper’s Financial Services Regulatory team welcomes you to the Autumn 2017 edition of our Anti-Money Laundering (AML) Bulletin. In this issue, we provide updates on AML developments in the UK and internationally,...more

Expanded Russia, Iran, and North Korea Sanctions; Top 10 Takeaways (Japanese Translation)

by Latham & Watkins LLP on

President Trump signs the “Countering America’s Adversaries Through Sanctions Act,” which — among other measures — requires Congressional review to ease Russia-related sanctions. On Wednesday, August 2, 2017, President...more

The responsibility to respect human rights in the banking sector

by Hogan Lovells on

The question of how the UN Guiding Principles on Business and Human Rights (UNGPs) should apply to the banking and financial services sector is one that is attracting increasing attention. Indeed, the dialogue has intensified...more

As Digital Currency Spreads, So Does its Global Regulation: India and Australia Enter the Fray

by Ballard Spahr LLP on

As digital currency becomes more ubiquitous, state and federal regulators across the United States, as well as regulators in many other countries, are examining how existing regulatory structures need to be adapted to account...more

Financial Intelligence – what businesses need to know

by Hogan Lovells on

The Financial Intelligence Centre Amendment Act (the Act) was enacted by President Jacob Zuma, and published in the Government Gazette on 2 May 2017. The Act is designed to make the South African financial system...more

On the ‘Front Lines’ of Battling Terrorism

With two decades of experience in bank fraud investigations and anti-money laundering compliance—including the creation of early-warning systems to detect potential money laundering and suspicious activity—Thomas Bock was...more

AML Due Diligence Standards for U.S. Lawyers

by Ballard Spahr LLP on

Increasingly, international bodies are calling for higher standards for gatekeepers, known in the parlance of the Financial Action Task Force (“FATF”) as “designated non-financial businesses and professions” (“DNFBPs”)....more

Proposed Changes to Cross-Border Reporting

by Ballard Spahr LLP on

Part III of the Analysis of the Combatting Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017 - As we recently blogged, Senators Chuck Grassley (R-Iowa) and Diane Feinstein (D-California) introduced on...more

Proposed Bill Seeks to Transform International Tax Evasion into Money Laundering

by Ballard Spahr LLP on

Part II of the Analysis of the Combatting Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017 As we recently blogged, Senators Chuck Grassley (R-Iowa) and Diane Feinstein (D-California) introduced on May 25,...more

Senators Propose the Combatting Money Laundering, Terrorist Financing, and Counterfeiting Act

by Ballard Spahr LLP on

Senators Chuck Grassley (R-Iowa) and Diane Feinstein (D-California) introduced on May 25, 2017 a bill, S. 1241, entitled the “Combatting Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.” Although it is...more

MENA Countries Sever Ties with Qatar

by Jones Day on

On Monday, June 5, 2017, Bahrain, Egypt, Libya's eastern region-based government, the Maldives, Saudi Arabia, United Arab Emirates ("UAE"), and the internationally recognized government of Yemen severed ties with Qatar,...more

Blockchain Week in Review – May 2017 #4

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

The New Paradigm: Proposed Reforms of the AML/CFT Regime by The Clearing House

by Ballard Spahr LLP on

Today we are very pleased to welcome guest blogger Greg Baer, who will address a series of significant issues posed by a detailed paper published by The Clearing House, a banking association and payments company that is owned...more

Draft EU Guidelines for Payment Service Providers on Preventing Terrorist Financing and Money Laundering in Electronic Fund...

by Shearman & Sterling LLP on

The Joint Committee of the European Supervisory Authorities has published a consultation on proposed guidelines on preventing terrorist financing and money laundering in electronic fund transfers under the EU Wire Transfer...more

FICA Bill signed into law

by Hogan Lovells on

The Financial Intelligence Centre Amendment Act is designed to make the South African financial system intolerant to abuse in the form money laundering and the financing of terrorism and bring South Africa in line with...more

Nuovi adempimenti derivanti dal recepimento della IV Direttiva Antiriciclaggio

Lo schema di decreto legislativo approvato dal Governo lo scorso 23 febbraio 2017, ed ora sottoposto all'esame del Parlamento (di seguito "Schema di Decreto"), recante attuazione della Direttiva (UE) 2015/849 del Parlamento...more

The Supreme Court Considers Whether Companies Can Be on the Hook for Human Rights Violations Under the Alien Tort Statute

by Ropes & Gray LLP on

Last Monday, the U.S. Supreme Court agreed to address the question of whether companies can be liable in federal court for human rights violations under a 1789 law. Most appeals courts that have considered this question found...more

Weighing Corporate Liability under the Alien Tort Statute: What it Means for AML/CFT Controls

by Ballard Spahr LLP on

The Supreme Court granted certiorari on April 3 to decide whether Jordan-based Arab Bank may be liable for claims including allegations that its New York branch processed transactions for known terrorists. While the central...more

Amendments to the regulation on money laundering prevention and financing of terrorism applicable to financial institutions

by White & Case LLP on

Amendments to the general provisions on money laundering and financing of terrorism applicable to banking institutions, brokerage houses, regulated and unregulated non-bank lending and finance institutions, currency exchange...more

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Cybersecurity

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