Our extensive knowledge at your fingertips

Latest editions

Search

FinCEN and South African Financial Intelligence Centre host Task Force meeting on Combatting the Financing of Wildlife Trafficking and Terrorist Finance Dialogues

June 13, 2023

FinCEN’s participation in the Task Force reinforces the U.S. Government’s commitment to protect wildlife populations from further poaching and disrupt the associated illicit trade through the identification and seizure of the proceeds generated from the wildlife trafficking…

U.S-UK issue Joint Statement on the announcement that both countries have committed in principle to establish a data bridge

June 9, 2023

A U.S-UK data bridge would uphold the rights of data subjects, facilitate responsible innovation, and provide individuals in both countries greater access to the services that suit them, whilst reducing the burdens on businesses and delivering better outcomes for people…

The White House delivers message to the Congress on the continuation of the national emergency with respect to Belarus

June 9, 2023

The actions and policies of certain members of the Government of Belarus and other persons, and the Belarusian regime’s harmful activities and long-standing abuses, continue to pose an unusual and extraordinary threat to the national security and foreign policy of the US…

SEC files 13 charges against Binance, Founder Changpeng Zhao and other related entities

June 8, 2023

The charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities. The entities engaged in an extensive web of deception…

U.S Department of the Treasury announces framework to promote fairer, more equitable compliance across programmes and services

June 8, 2023

The Treasury announced a new effort to help ensure fairness and increase transparency in the Department’s compliance and enforcement practices, which is intended to provide a roadmap for Department bureaus and offices to guide their compliance and enforcement efforts…

FinCEN issues Beneficial Ownership Information Reporting Guidance

March 24, 2023

The new regulations require many corporations, limited liability companies, and other entities created in or registered to do business in the United States to report information about their beneficial owners, the persons who ultimately own or control the company to FinCEN…

FinCEN issues Enforcement Order against Crypto Exchange Bitzlato in First-Time Use of Section 9714(a)

January 18, 2023

FinCEN determined that Bitzlato is a FI operating outside of the US that is of primary money laundering concern in connection with Russian illicit finance.The order prohibits certain transmittals of funds involving Bitzlato by any covered FI. Bitzlato poses a global threat by allowing…

FINRA’s 2023 Report on Examination and Risk Monitoring Program

January 10, 2023

The Report introduces a new Financial Crimes section, consisting of three topics – AML, Fraud and Sanctions; Cybersecurity and Technological Governance; and Manipulative Trading that highlight FINRA’s increased focus on protecting investors and safeguarding…

FinCEN proposes rulemaking on access to beneficial ownership information

December 15, 2022

The proposed regulations specify how govt officials would access beneficial ownership information to support law enforcement, national security, and intelligence activities. They also describe how certain financial institutions and their regulators would access…

MONEYVAL issues report on AML/CFT in Georgia

November 28, 2022

Georgia has achieved full compliance with six of the 40 FATF recommendations constituting the international AML/CFT standard and retains minor deficiencies in the implementation of 22 recommendations where it has been found “largely compliant”…

US House on major AML reform

July 15, 2022

House of Representatives passes bill requiring that trust companies, lawyers and art dealers report suspicious activity, according to ICIJ. The Enablers Act was first proposed shortly after ICIJ’s Pandora Papers investigation exposed widespread exploitation of lax financial disclosure…

Board of Governors Joint Statement on RBA & CDD

July 11, 2022

Banks must apply a risk-based approach to CDD, including when developing the risk profiles of their customers. More specifically, banks must adopt appropriate risk-based procedures for conducting ongoing CDD that, among other things, enable banks to: (i) understand the nature…