Anti-Money Laundering (AML)

The IRS recently released Revenue Procedure 2017-31 which adds Belgium, Columbia and Portugal to the list of participates in the automatic exchange of information on bank interest paid to nonresident
Continue Reading Three More Countries Will Now Provide IRS Information on Bank Interest paid to Nonresident Aliens


In a press release touting recent law enforcement success stories based upon Bank Secrecy Act reporting by financial institutions, the Treasury Department’s Financial Crimes Enforcement Network revealed publicly for the
Continue Reading FinCEN Reveals That Geographic Targeting Orders Are Generating Meaningful Intelligence Leading to Money Laundering Prosecutions

T2000px-US-FinancialCrimesEnforcementNetwork-Seal_svghe Financial Crimes Enforcement Network (FinCEN) and Office of the Comptroller of the Currency (OCC) yesterday announced the assessment of a $7 million civil money penalty against Merchants Bank
Continue Reading FinCEN and OCC Impose $7 Million Penalty on California Bank for “Egregious” Anti-Money Laundering Violations