News & Analysis as of

BSA/AML Financial Institutions China

King & Spalding

ICBC Settles AML/BSA and CSI Matters with DFS, Fed: Three Take-Aways

King & Spalding on

AML Developments - What You Need to Know - Earlier this month, the New York State Department of Financial Services (“DFS”) and the Federal Reserve Board of Governors (“FRB”) announced settlements with the Industrial and...more

Ballard Spahr LLP

Guilty Pleas Highlight Illicit Funneling of Chinese Cash to Casinos

Ballard Spahr LLP on

Government Suggests that Unusual Pleas are Just the Tip of an Iceberg - Chinese law generally prohibits its citizens from converting more than $50,000 in Chinese yuan into foreign currency in a year.  On Monday, two men...more

Ballard Spahr LLP

A Tale of Two Enforcement Actions

Ballard Spahr LLP on

And a Tale of Four Countries: Singapore Fines a U.K. Bank, and the U.S. Imposes a Consent Order on a Chinese Bank - Less than a week apart, two major financial institutions (“FIs”) have been hit with penalties for failing...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

FinCEN is extending its campaign to press title insurance companies to reveal the real buyers behind shell companies that pay cash for high-end real estate deals in select cities around the country....more

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