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The Financial Crimes Enforcement Network ("FinCEN") assessed a $500,000 civil money penalty against New York-based credit union for violations of anti-money laundering ("AML") regulations.

On June 3, the U.S. Treasury's Financial Crimes Enforcement Network issued a $75 million penalty against a Northern Mariana Islands casino for Bank Secrecy Act violations – the largest-ever FinCEN penalty assessed against a casino.

Following an earlier announcement on July 21, 2025, the U.S. Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN"), on August 5, 2025, issued an Exemptive Relief Order ("Order") to delay for two years, from January 1, 2026 to January 1, 2028.

FinCEN has issued a final rule permanently removing the requirement for U.S. citizens and companies to report beneficial ownership information under the Corporate Transparency Act.

Financial Crimes Enforcement Network ("FinCEN") Director Kenneth A. Blanco urged financial institutions to help prevent the theft and abuse of personally identifiable information ("PII") by fraudsters

A firm and its principal settled FINRA charges for failing to establish an adequate AML program and a supervisory system.

In this issue, we discuss FinCEN's postponement of the effective date for a final anti-money laundering rule that was issued in August 2024 for investment advisers...

Growing up, one of my favorite childhood stories was the fable about the three little pigs and how they went out into the world to build their homes and seek their fortunes.

Increased defense spending and assistance to the Ukrainian government in Kyiv grabbed many of the headlines regarding President Biden's fiscal year 2023 budget.

On 10 December 2012, the US Office of Foreign Assets Control (OFAC) announced a USD 132 million settlement with Standard Chartered Bank (SCB) for apparent violations of US sanctions.

This year, regulators, supported by a slate of new legislation, have focused more of their efforts on AML violations and compliance deficiencies than ever before.

This week in a letter to IRS acting commissioner David Kautter, Senator Kevin Brady, R-Texas, chairman of the Committee on Ways and Means ...

On June 18, 2019, Facebook unveiled plans for a digital currency called Libra, which the company hopes will "transform the global economy" by offering an alternative to cash, bank transfers, and credit card transactions.

Financial Crimes Enforcement Network ("FinCEN") Director Kenneth A. Blanco outlined agency efforts to protect financial institutions from fraud relating to new uses of financial technology ...

Major reports were issued this month on cyber-criminal activity.

Earlier this month the Office of the Comptroller of the Currency released its Supervision Operating Plan for 2023, setting out its risk-based examination priorities for national banks.

As reported in the Wall Street Journal, Senior Treasury Department officials are warning cryptocurrency trading platforms on the dangers of currency "mixing" as a means of money laundering.

Treasury Secretary Steven Mnuchin remarked before a hearing of the Senate Finance Committee three weeks ago ...