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Risk Mitigation Bank Secrecy Act FinCEN

Ankura

AML Risk Assessments Revisited

Ankura on

The Bank Secrecy Act (BSA) does not explicitly state that money services businesses (MSBs) must conduct an anti-money laundering (AML) risk assessment. However, it does say that an MSB “shall develop, implement, and maintain...more

Goodwin

Navigating the Hazy Landscape: Challenges and Solutions in Cannabis Payment Processing

Goodwin on

The sale of adult-use cannabis has been legalized in 24 states in the United States. But this does not mean there are no other legal impediments to the cannabis industry in those jurisdictions. For example, cannabis...more

Blank Rome LLP

Federal Regulators Issue Notice Advising Financial Institutions How to Assess Risks Associated with Accounts Maintained by...

Blank Rome LLP on

The nonprofit industry in the United States accounts for one trillion dollars of annual economic activity. But high-profile enforcement actions against nonprofit organizations (“NPOs”) at both the federal and state level in...more

Sheppard Mullin Richter & Hampton LLP

Legal Issues With Blockchain-Based Crypto Games and Collectibles

The use of blockchain technology for crypto games and token-based digital collectibles is on the rise. One of the first crypto games of note was CryptoKitties. It may turn out that CryptoKitties becomes to crypto games what...more

K2 Integrity

FinCEN’s Beneficial Ownership Rule and Increased AML Burden

K2 Integrity on

Compliance officers at financial institutions have made great strides in improving Know Your Customer (KYC) programs to focus on knowing their customers as a critical function in combating money laundering. As regulators...more

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