Joshua Ashby and Kimberly L. Kwan have co-authored a Corporate Compliance Insights article entitled “How the Corporate Transparency Act Shakes Up AML: Beneficial Ownership Updates and More.” Their article addresses
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FinCEN Unveils New Global Investigations Division to Target Foreign Money Laundering Threats
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced today that it has launched a new Global Investigations Division (GID), which will be responsible for implementing targeted investigation strategies to
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FinCEN Announces First-Ever Enforcement Action Against Bitcoin Trader for Violations of BSA
Last week, the Financial Crimes Enforcement Network (FinCEN) announced its first-ever civil penalty against a cryptocurrency exchanger for willful violations of the Bank Secrecy Act (BSA). According to the FinCEN
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SEC’s Office of Compliance Inspections Releases Its 2018 Examination Priorities
Our colleagues Joshua Horn, Ernest E. Badway, and Benjamin H. McCoy have published an article about the recent release by the Securities and Exchange Commission’s Office of Compliance
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California Card Club Plagued by Allegations of Criminal Activity Fined $8 Million for AML Violations
Today the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced that it had fined a California card club, Artichoke Joe’s Casino, $8 million for numerous willful violations of the Bank
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Transnational Criminal Organizations Increasingly Using Bitcoin as Money Laundering Vehicle
In its recently-published 2017 National Drug Threat Assessment (NDTA), the Drug Enforcement Administration reports that drug trafficking organizations are turning to Bitcoin and other virtual currencies to enable easy transfer
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FinCEN Warns U.S. Financial Institutions of Venezuelan Money Laundering Threat
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued an advisory to alert financial institutions of widespread public corruption in Venezuela and the methods Venezuelan senior political figures and
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Complying with FinCEN’s Revised GTOs: What Real Estate Professionals Need to Know About Anti-Money Laundering
This article is Part II of a series in which we address the U.S. government’s attempts to combat money laundering in real estate transactions. Part I is available here.
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FinCEN’s Revised GTOs Expand Real Estate Money Laundering Crackdown to Hawaii, Close “Wire Transfer” Loophole
This article is Part I of a series in which we address the U.S. government’s attempts to combat money laundering in real estate transactions.
This week the Treasury Department’s Financial
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FinCEN Issues Revised Geographic Targeting Orders Focusing on Shell Companies Purchasing Luxury Properties in 7 Major Metropolitan Areas
Today the Financial Crimes Enforcement Network (FinCEN) announced the issuance of revised Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies
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