News & Analysis as of October 31, 2024

Mortgages › Money Laundering

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Proceeds of Crime and the Cautionary Tale of Convicted Fraudster Achilleas Kallakis

Ankura on 12/22/2023

Recent SFO Confiscations Linked To Decade-Old Crime - On 24 November, the Serious Fraud Office (SFO) successfully confiscated £250,000 from Achilleas Kallakis, which was held as a debenture by The Queen’s Club, home of the...more

FinCEN Renews and Expands GTO

Ballard Spahr LLP on 10/24/2023

FinCEN announced on October 20 that, once again, it is extending the Geographic Targeting Order, or GTO, which requires U.S. title insurance companies to identify the natural persons behind so-called “shell companies” used in...more

The State AG Report – 4.20.2023

Cozen O'Connor on 4/24/2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG Lawsuit Challenges Endangered Status of Lesser...more

Loi sur le recyclage des produits de la criminalité et le financement des activités terroristes : nouveaux changements visant les...

Blake, Cassels & Graydon LLP on 3/3/2023

Le 17 février 2023, le gouvernement fédéral a publié un projet de règlements modificatifs (les « Règlements modificatifs ») modifiant certains règlements (les « Règlements ») pris en vertu de la Loi sur le recyclage des...more

More Changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act: Mortgage Lenders and Armoured Car Carriers

Blake, Cassels & Graydon LLP on 2/22/2023

On February 17, 2023, the federal government released draft amending regulations (Amending Regulations) to the regulations (Regulations) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and...more

Financial Daily Dose 9.21.2020 | Top Story: White House Signs Off on Deal for Oracle & Walmart to Take Stake in TikTok

Robins Kaplan LLP on 9/21/2020

The White House has given its crucial imprimatur to a deal for Oracle (and Walmart) to take a stake in Chinese video app TikTok, “an agreement that will delay the U.S. government’s threat to block the popular app in the...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/23/2018

The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 11/8/2017

More on the Saudi crackdown initiated by Crown Prince Mohammed bin Salman over the weekend, including the government’s move to confiscate and freeze more than $800 billion in assets from the detailed princes and other...more

Financial Services Report - Summer 2017

Morrison & Foerster LLP on 6/20/2017

EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 3/24/2017

Financial Industry Developments - OCC Provides Additional Details to Evaluate Charter Applications From Fintech Companies - On March 15, 2017, the Office of the Comptroller of the Currency ("OCC") issued a "Draft...more

2016 Year in Review: Money Laundering (Part One)

Ballard Spahr LLP on 2/3/2017

2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 12/2/2016

FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 - On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan...more

Financial Services Weekly News - July 2016 #4

Goodwin on 7/28/2016

Editor's Note - What Exactly Is Bitcoin? In a case featuring a sting operation beginning with meetings in a coffee shop, ice cream store and hotel lobby and ending with the sale of bitcoins to an undercover Miami Beach...more

NY DFS Finalizes Rigorous AML/BSA Regulation

Ballard Spahr LLP on 7/11/2016

The New York Department of Financial Services (DFS) has finalized a new regulation setting forth rigorous standards for monitoring and filtering programs to monitor transactions for potential anti-money laundering (AML) and...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 10/28/2015

Barclays and Wachovia Settle with NCUA - On October 19, 2015, Barclays PLC and Wachovia Capital Markets LLC agreed to pay $325 million and $53 million, respectively, to settle claims brought by the National Credit Union...more

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Mortgages › Money Laundering

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