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White & Case LLP

The Shadow Financial System

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The concept of the shadow financial system rose to international prominence in the aftermath of the 9/11 terrorist attacks. In an interview with a Pakistani newspaper a month later, Osama bin Laden stated that Al Qaeda were...more

American Conference Institute (ACI)

[Event] 8th Forum on FinTech & Emerging Payment Systems - April 9th - 10th, New York, NY

ACI’s 8th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems will provide in-depth guidance on the latest regulatory developments at the Federal and State Level that you need to be aware of....more

Ankura

From Customer Centricity to Customer Intimacy: The Era of Hyper-Personalization

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Hyper-personalization goes beyond one-time marketing events. It is about harnessing the long-term drivers of growth and prioritizing customer lifetime value. This is achieved by utilizing data and analytics collected at each...more

Orrick, Herrington & Sutcliffe LLP

New York proposes “landmark legislation” to oversee crypto industry

On May 5, New York Attorney General Letitia James announced proposed legislation to increase oversight of the cryptocurrency industry. Calling the “landmark legislation” the “strongest and most comprehensive set of...more

Davies Ward Phillips & Vineberg LLP

Filling the Gap: Scope of Canadian Anti-Money Laundering Laws Expanded

The Canadian federal government has fulfilled its promise to expand Canada’s anti-money laundering (AML) regime to cover crowdfunding platforms and certain payment service providers (PSPs) that previously operated outside the...more

Nelson Mullins Riley & Scarborough LLP

Banks and FinTechs Beware: Here Come the Sanctions - What We Can Learn from Previous OFAC Actions Involving FinTech Companies

With Russia’s invasion of Ukraine last week, we saw a swift response by the U.S. beginning with President Biden’s Executive Order 14024 (“The EO”) and followed quickly by the Office of Foreign Assets Control’s (“OFAC”) severe...more

Guidepost Solutions LLC

5 Tips to Best Position Your Fintech for a Banking Charter License Application

Recently, several financial technology (“Fintech”) organizations have applied for – and been granted – banking charter licenses. For example, in May 2019, Grasshopper was approved for a charter issued by the Office of the...more

Robins Kaplan LLP

The Robins Kaplan Spotlight, Vol. 6, No. 4 - Avoiding Guilt by Association

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From manufacturers to financial and other professional service providers, no prudent company welcomes attention based upon an unfortunate client or customer affiliation. Still, in our media-saturated world, “foreign” and...more

Hogan Lovells

Global Payments Newsletter, October 2021

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Key developments of interest over the last month include: United Kingdom: HM Treasury responds to Payments Landscape Review call for evidence Hong Kong: HKMA publishes white paper exploring the idea of a CBDC Italy: Bank of...more

Foodman CPAs & Advisors

¿Hay Ayuda en el Camino para los “Derisked”?

El aumento de los costos de cumplimiento, las estructuras de clientes corporativos difíciles de entender, las multas y sanciones, el cambio de la responsabilidad corporativa a la responsabilidad individual y las...more

Foodman CPAs & Advisors

Is there help on the Way for the De-risked?

Rising compliance costs, hard to understand corporate client structures, fines and penalties, a shift from corporate responsibility to individual liability, and reputational concerns have led many US Financial Institutions...more

Ballard Spahr LLP

Federal Reserve and FinCEN Raise Alarms Regarding Technology-Assisted Financial Fraud

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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

K2 Integrity

Banking Pot: How Financial Institutions Can Prepare for Changing Regulations

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History may view 2018 as a pivotal year for marijuana legalization. Although the year started with then U.S. Attorney General Jeff Sessions creating a haze over the industry and legalization supporters when he rescinded...more

Foodman CPAs & Advisors

Gatekeepers are under a lot of Stress!

The FATF is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering (AML), terrorist financing and financing of weapons of mass destruction. ...more

Foodman CPAs & Advisors

Official Hope for the De-Risked?

Deficiencies in Anti-Money Laundering (AML) frameworks and policies have triggered a significant number of Financial Institutions (FIs) to de-risk. ...more

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