A Gesture Providing Limited Solace to a Now-Defunct Bank -
Six years ago, in early 2018, we blogged about the U.S. Department of the Treasury’s Financial Crimes Enforcement Network’s (“FinCEN’s”) designation of ABLV Bank, AS...more
The Federal Reserve Bank of Philadelphia (the “Philly Fed”) recently executed an agreement (the “Agreement”) with Pennsylvania-based Customers Bank (and its Customers Bancorp, Inc. holding entity) (collectively, “Customers”)....more
8/16/2024
/ Anti-Money Laundering ,
Banks ,
BSA/AML ,
Digital Assets ,
Financial Institutions ,
Financial Services Industry ,
FRB ,
IRS ,
Office of Foreign Assets Control (OFAC) ,
Risk Assessment ,
Risk Management ,
Suspicious Activity Reports (SARs)
We previously have blogged on actions taken by the DOJ’s “Task Force KleptoCapture,” an interagency law enforcement task force with a mandate to target sanctioned Russian and pro-Russian oligarchs. While explicitly launched...more
3/1/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Banks ,
Criminal Fascilitation ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Financial Services Industry ,
International Emergency Economic Powers Act (IEEPA) ,
Military Conflict ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
Ukraine
We blogged previously on the significant steps the European Union (“EU”) recently has taken toward implementing a rigorous new transnational anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”)...more