The Nevada Gaming Control Board (“Board”) recently filed a complaint (“Complaint”) against Resorts World Las Vegas casino (“Resorts World”), alleging that, despite repeated red flags, Resorts World’s Anti-Money Laundering...more
8/27/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Casinos ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Illegal Gambling ,
Money Laundering
The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”). Written comments are...more
6/17/2024
/ Algorithms ,
AML/CFT ,
Anti-Money Laundering ,
Artificial Intelligence ,
Bank Secrecy Act ,
BSA/AML ,
Consumer Financial Products ,
Data Privacy ,
Disclosure Requirements ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Gramm-Leach-Blilely Act ,
Investor Protection ,
Machine Learning ,
Money Laundering ,
Request For Information ,
Risk Management ,
U.S. Treasury
Last week, the United States Attorney’s Office for the Southern District of New York unsealed an indictment against global cryptocurrency exchange KuCoin and two of its founders, Chun Gan and Ke Tang, for allegedly conspiring...more
4/5/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
BSA/AML ,
CFTC ,
Commodity Exchange Act (CEA) ,
Crypto Exchanges ,
Cryptocurrency ,
Enforcement Actions ,
Financial Services Industry ,
Futures Commission Merchants (FCMs) ,
Know Your Customers ,
Money Laundering ,
Money Transmitter ,
Popular ,
Regulatory Violations ,
Suspicious Activity Reports (SARs)
The Department of Justice (“DOJ”) has been very active in the Bank Secrecy Act (“BSA”) / Anti-Money Laundering (“AML”) space, as reflected by a recent series of individual prosecutions and corporate non-prosecution agreements...more
2/5/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Criminal Investigations ,
Criminal Prosecution ,
Cryptocurrency ,
Currency Transaction Reports (CTR) ,
Department of Justice (DOJ) ,
Due Diligence ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
FinCEN ,
Money Laundering ,
Money Transmitter ,
Non-Prosecution Agreements ,
Suspicious Activity Reports (SARs)