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Money Laundering
United States
Lewis Brisbois Bisgaard & Smith LLP
The 2001 Patriot Act imposed rigorous customer identification program (CIP) rules on financial institutions that were designed to prevent ...
Withers LLP
This year has been a very good year for digital asset markets. A growing number of crypto prime service providers have emerged to provide essential trading, lending, clearing and settlement functions
Cleary Gottlieb Steen & Hamilton LLP
On October 1, 2020, the SDNY District Court issued an important ruling in U.S. v. Halkbank, holding that foreign state-owned entities ("SOEs") can be subject to criminal jurisdiction
Shearman & Sterling LLP
When Nikhil Rathi, the Financial Conduct Authority's (FCA) new chief executive, took up his role on October 1, he will have faced an unenviable list of issues to confront.
K2 Intelligence
What makes for a great anti-money laundering compliance program? This is not a pie-in-the-sky idea
Shearman & Sterling LLP
Prosecutors and regulators are signaling an intent to expand accountability amongst cryptocurrency platforms under U.S. laws and regulations, including the Bank Secrecy Act (BSA).
K2 Intelligence
For those who haven't yet had the time to catch up on the ongoing #FinCENFiles reporting
Mayer Brown
Both OFAC and FinCEN maintain regulations relating to malicious cyber activities that should be considered in connection with any response to a ransomware attack.
Rahman Ravelli Solicitors
The US Department of Justice (DoJ) is attempting to confiscate almost $400 million from the attorney who helped the crypto fraud scheme OneCoin launder hundreds of millions of dollars.
Cadwalader, Wickersham & Taft LLP
FinCEN solicited comment on potential amendments to the rules under the Bank Secrecy Act that would specify the elements of "an effective and reasonably designed" AML program.
Proskauer Rose LLP
On August 18, 2020, the Financial Crimes Enforcement Network (FinCEN), which is the primary regulator and administrator of the Bank Secrecy Act (BSA), issued a statement on enforcement of the BSA.
Arnold & Porter
Several financial services regulators have recently released guidance that provides transparency to financial institutions regarding the agencies' enforcement of the Bank Secrecy Act (BSA)...
Cadwalader, Wickersham & Taft LLP
FinCEN adopted a final rule that will make current AML, Customer Identification Program and beneficial ownership rules equally applicable to all types of banks.
Arnold & Porter
For the last several months, Arnold & Porter has been tracking the Department of Justice's announcements of fraud cases involving the alleged misappropriation of funds provided by the Coronavirus Aid, Relief, and Economic Security Act.
Cleary Gottlieb Steen & Hamilton LLP
On August 21, the Financial Crimes Enforcement Network (FinCEN), together with the federal banking agencies[1] (the Agencies)
On September 1, 2020, the Financial Crimes Network ("FinCEN") issued a statement regarding various media outlets' intent to publish Suspicious Activity Reports ("SARs")
Cooley LLP
While participating in the Federal Reserve Bank of San Francisco's innovation office hours on August 13, Federal Reserve Governor Lael Brainard reported on the Federal Reserve's ongoing...
Cadwalader, Wickersham & Taft LLP
More enforcement actions may well be on the way for firms that have not effectively implemented an adequate AML program.
Wilson Elser Moskowitz Edelman & Dicker LLP
Art advisers are frequently reluctant to reveal the identity of their clients for fear of losing the business.
Morrison & Foerster LLP
The answers to these questions and more are here in our September 2020 Top 10.
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