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
Priorities Echo Prior Alerts and Enforcement Actions -
The SEC’s Division of Examinations (the “Division”) released on October 16 a report on its “Examination Priorities” (the “Report”) for fiscal year 2024. This release...more
10/20/2023
/ Alternative Trading System (ATS) ,
AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
Broker-Dealer ,
BSA/AML ,
Due Diligence ,
Financial Institutions ,
FinCEN ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
Acting Director Suggests that Financial Institutions Should “Welcome” the Program -
Himamauli Das, the Acting Director of the Financial Crimes Enforcement Network (“FinCEN”), spoke about the Anti-Money Laundering Act of...more
We previously blogged about the Financial Crimes Enforcement Network’s (“FinCEN’s”) issuance on June 30 of the first government-wide list of priorities for anti-money laundering and countering the financing of terrorism...more
Eighth Blog Post in an Extended Series on Legislative Changes to the BSA/AML Regulatory Regime -
As we have blogged, the Anti-Money Laundering Act of 2020 (“AMLA”) contains major changes to the Bank Secrecy Act (“BSA”),...more
Last Wednesday, FinCEN Deputy Director Jamal El-Hindi appeared at the annual conference of the Money Transmitter Regulators Association and delivered prepared remarks. The topics of his address covered three issues of...more
9/20/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Corruption ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Information Sharing ,
Innovative Technology ,
Money Services Business ,
Money Transmitter ,
National Security ,
Policy Statement ,
RegTech ,
Strict Compliance ,
Virtual Currency
The Federal Reserve and the Financial Crimes Enforcement Network, or FinCEN, both recently issued reports addressing worrisome trends in technology-assisted financial fraud. The reports to engage the financial services...more
8/2/2019
/ Business E-Mail Compromise (BEC) ,
Federal Reserve ,
Financial Crimes ,
Financial Fraud ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Identity Theft ,
Innovative Technology ,
Know Your Customers ,
Money Laundering ,
Personally Identifiable Information ,
Suspicious Activity Reports (SARs) ,
Vulnerability Assessments
Federal legislators continue to struggle over the growing disconnect between increasing State legalization of the cannabis industry, and the continued illegality of cannabis under federal law....more
2/19/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Cole Memorandum ,
Decriminalization of Marijuana ,
Dispensaries ,
FFIEC ,
Financial Services Industry ,
FinCEN ,
Hemp ,
Legislative Agendas ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Marijuana ,
Proposed Legislation