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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U.S. Department of the Treasury
FinCEN Extends FBAR Relief to Victims of Hurricane Irma
We previously reported that the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) had granted FBAR filing relief to the victims of Hurricane Harvey. FinCEN announced today that Hurricane Irma victims…
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FinCEN Provides FBAR Relief to Victims of Hurricane Harvey
The Financial Crimes Enforcement Network (FinCEN) announced today that Hurricane Harvey victims in the affected areas of Texas have until January 31, 2018 to file their 2016 FBARs (that would…
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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…
Continue Reading FinCEN’s Revised GTOs Expand Real Estate Money Laundering Crackdown to Hawaii, Close “Wire Transfer” Loophole
FinCEN Issues Marijuana Banking Update
Over at the In The Weeds blog (which explores developments in cannabis law and business), Melissa T. Sanders writes about the recent publication by the Treasury Department’s Financial Crimes Enforcement…
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Regulatory Freeze on Tax Guidance Begins to Thaw While Scope of Regulatory Reduction Order Still Unclear
On January 20, 2017, the White House issued a Memorandum freezing all new regulations (former President Obama issued a similar freeze at the start of his administration). In addition, on…
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FinCEN and OCC Impose $7 Million Penalty on California Bank for “Egregious” Anti-Money Laundering Violations
The 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…
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Crackdown On Money Laundering In Luxury Real Estate Sector Extended for Another Six Months
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced today that its aggressive efforts to combat money laundering in the luxury real estate market have been extended for an…
Continue Reading Crackdown On Money Laundering In Luxury Real Estate Sector Extended for Another Six Months