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Terrorist Financing Regulations Terrorism Funding BSA/AML

StoneTurn

3 Key Takeaways from FATF’s Recent Mutual Evaluations Report

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The Financial Action Task Force (“FATF”) recently released its Report on the State of Effectiveness and Compliance with the FATF Standards (“Report”). The Report contains the results of its 4th Round of Mutual Evaluations...more

Jones Day

FinCEN Issues First U.S. Priorities for Anti-Money Laundering and Counter-Terrorism Financing

Jones Day on

On June 30, 2021, FinCEN announced the first set of government-wide AML/CFT Priorities, as required by the Anti-Money Laundering Act of 2020 ("AML Act"). Consistent with the National Strategy for Combating Terrorist and Other...more

Foodman CPAs & Advisors

Is Section 314 of the USA PATRIOT Act Working?

Section 314 of the USA PATRIOT Act (Sec 314) was drafted by Congress in 2001 to allow financial institutions to work with law enforcement agencies and with each other to support the common goal of deterring money laundering...more

Foodman CPAs & Advisors

GAFILAT Identifica Amenazas Emergentes de Lavado de Dinero/Financiamiento del Terrorismo

Foodman CPAs & Advisors on

GAFILAT (Grupo de Acción Financiera de América Latina) publicó una Segunda Actualización del Informe Regional de Amenazas de Lavado de Dinero (2017-2018) que incluye: ANEXO VI: AMENAZAS RELACIONADAS CON LA PANDEMIA COVID-19....more

Foodman CPAs & Advisors

GAFILAT Identifies Money Laundering/Terrorist Financing Emerging Threats

GAFILAT (Financial Action Task Force of Latin America) published a Second Update to the Money Laundering Regional Threat Report (2017-2018) that includes:  ANNEX VI: THREATS RELATED TO THE COVID-19 PANDEMIC.   ...more

Ballard Spahr LLP

Financial Action Task Force Grades America’s AML Compliance

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Second Post in a Two-Post Series on Recent FATF Activity - As we just blogged, the Financial Action Task Force (“FATF”) issued a statement from its President on COVID-19 and measures to combat illicit financing during the...more

Ballard Spahr LLP

Financial Action Task Force Update: Statement on COVID-19’s Implications for AML Programs

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First Post in a Two-Post Series on Recent FATF Activity - Members presumably working from home, the Financial Action Task Force (“FATF”) was active last week, first issuing its 3rd Enhanced Follow-up Report & Technical...more

Foodman CPAs & Advisors

The U.S.A Continues to be AML/BSA “Vulnerable”

The U.S. Department of the Treasury 2020 Strategy (National Strategy for Combating Terrorist and Other Illicit Financing released on February 6, 2020) describes ongoing significant AML/CFT threats. ...more

Ballard Spahr LLP

Treasury Department’s 2020 National Illicit Finance Strategy: Aspirations for BSA/AML Modernization and the Combatting of Key...

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First in a Two-Post Series - The U.S. Department of Treasury (“Treasury”) has issued its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”)....more

Foodman CPAs & Advisors

What is Next after BSA turns 50?

On 2/6/2020, the U.S. Department of the Treasury issued the 2020 National Strategy for Combating Terrorist and Other Illicit Financing (2020 Strategy).  The purpose of the 2020 Strategy is to...more

Ballard Spahr LLP

Anti-Terrorism Act Liability Requires More than Mere Failures of Customer Due Diligence

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On September 25, 2019, the Southern District of New York dismissed a complaint brought by victims of rocket attacks in Israel perpetrated in 2006 by Hizbollah, operating in Lebanon. Kaplan v. Lebanese Canadian Bank, SAL, Civ....more

Ballard Spahr LLP

What the Basel AML Index Reveals About Global Money Laundering Risks

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Established in 2003, the Basel Institute is a not-for-profit Swiss foundation dedicated to working with public and private partners around the world to prevent and combat corruption, and is an Associated Institute of the...more

Ballard Spahr LLP

Congress Proposes National Directory of Beneficial Owners of Legal Entities

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Congress is considering a new draft bill, the Counter Terrorism and Illicit Finance Act (“CTIFA”), currently in committee in the Senate.  The CTIFA proposes the most substantial overhaul to the Bank Secrecy Act (“BSA”) since...more

Ballard Spahr LLP

Combatting Money Laundering and Terrorist Financing Through Enhanced AML Information Sharing

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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

Ballard Spahr LLP

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

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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

Hogan Lovells

FICA Bill signed into law

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

Orrick, Herrington & Sutcliffe LLP

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

Ballard Spahr LLP

AML Rules for Payment Industry Proposed by European Union Regulators

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The Joint Committee of the European Supervisory Authorities (ESA) issued on February 10, 2017 draft rules regarding certain anti-money laundering (AML) and counter-terrorism steps for Member States of the European Union (EU)....more

BakerHostetler

New York Anti-Terror Rules Place Chief Compliance Officers in the Hot Seat

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In early December 2015, New York state proposed rules to aid in the fight against terrorism by making it increasingly difficult for terrorist and other criminal organizations to transfer funds globally. As a result of several...more

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