1,724 results found

The "FATF Public Statement," which was published on November 3, 2017, identifies jurisdictions that are subject to its call for countermeasures or are subject to enhanced due diligence due to their strategic AML/CFT deficiencies.

A broker-dealer settled FINRA charges for alleged deficiencies in its anti-money laundering ("AML") compliance program in connection with penny stock transactions.

With the bipartisan support of the U.S. Chamber of Commerce and law enforcement at both the state and federal levels, the Corporate Transparency Act ("CTA") was approved by Congress with...

The SEC Office of Compliance Inspections and Examinations ("OCIE") announced 2018 examination priorities based on issues currently presenting increased risks ...

Pryor Cashman Partner Jeffrey Alberts and Associate Aaron Wiltse authored an article titled "How Money Laundering Allegations Turn Foreign Violations Into Domestic Cases" for the Anti-Corruption Report.

On May 3, 2023, Nathaniel Chastain, former product manager of OpenSea, the largest market for non-fungible tokens, was convicted by a jury of wire fraud and money laundering. The conviction was the first of its kind.

NFA amended AML interpretive guidance for futures commission merchants ("FCMs") and introducing brokers ("IBs") to incorporate CFTC guidance on the regulatory obligations of "voice" brokers.

A broker-dealer settled FINRA charges for failing to follow firm written anti-money laundering procedures that required monitoring for red flags of potentially suspicious activity.

FBME Bank Ltd. continues to contest FinCEN's rulemaking that prohibits U.S. financial institutions from opening or maintaining a correspondent banking relationship with FBME.

The proposed rule seeks to prohibit covered financial institutions from establishing, maintaining, administering, or managing in the U.S. any correspondent account for or on behalf of BPA.

The Financial Crimes Enforcement Network (FinCEN) on Aug. 25, 2016, issued a notice of proposed rulemaking (Proposed Rule) to implement Section 326 of the Uniting and Strengthening America...

The new policy restricts the use by prosecutors of civil or criminal asset forfeiture for structuring until after a defendant has been criminally charged or found to have engaged in additional criminal activity.

On July 9, the New York Department of Financial Services (NYDFS), joined by regulators from five other states, entered into a multistate settlement with a money...

On October 16, the OCC announced a formal agreement with a national bank in Florida for alleged unsafe or unsound practices related to board oversight, corporate governance, strategic and capital planning, and compliance with the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) requirements.

The Office of the Comptroller of the Currency's (OCC) Committee on Bank Supervision (CBS) just released its Bank Supervision Operating Plan for 2018 which outlines the OCC's supervision...

Banks of all sizes were levied with high fines over the past few years due to non-compliance with anti-money laundering requirements resulting in increased supervisory attention on BSA/AML regulations by federal banking agencies.

On May 5, 2016, the U.S. Department of the Treasury announced several actions to strengthen financial transparency.

2020 witnessed a flurry of anti-money laundering activity, with the issues and developments continuing to be global in scope. In the United States, suspicious activity reports, outlining transactions