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The U.S. Senate Committee on Banking, Housing and Urban Affairs considered testimony from non-government organizations about how draft legislation that would require businesses to report beneficial ownership...

Financial institutions 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.

Partners Reena Agrawal Sahni, Philip Urofsky and counsel Katherine Stoller hosted a webinar discussion on current developments in AML and sanctions.

FinCEN and the OCC penalized a Texas-based bank for willful violations of the Bank Secrecy Act and its implementing regulations.

FinCEN issued an advisory to inform financial institutions of "widespread" public corruption in Venezuela and to increase awareness of the money laundering methods that corrupt officials may employ to transfer and...

A recent enforcement action offers a glimpse of the Financial Industry Regulatory Authority's ("FINRA") expectations for firms conducting anti-money laundering ("AML") due diligence...

There is universal acknowledgement that anti-money laundering ("AML") monitoring has become progressively costlier (both in terms of time and money) since the Bank Secrecy Act ("BSA")...

In an announcement this week, the Organization for Economic Cooperation and Development (OECD) took a strong stance against so-called "facilitation" or "grease" payments allowed under anticorruption laws such as the U.S. Foreign Corrupt Practices Act (FCPA), but outlawed in most countries.

The U.S. Treasury Department ("Treasury") published its first National Illicit Finance Strategy (the "strategy") to help both the public and private sectors understand and address terrorist financing ("TF"), proliferation financing ("PF") and money laundering.

On May 28, 2013, the US government unveiled a coordinated action against Liberty Reserve S.A. for violations of US anti-money laundering laws.

While many Americans are struggling to achieve the dream of homeownership, there are criminals that abuse the housing market for financial gain.

On October 21, 2022, the United States District Court for the Southern District of New York issued an order denying a former OpenSea employee's motion to dismiss "insider trading"

Based on a recent regulatory statement, entities involved with cryptocurrency or digital assets should revisit their anti-money laundering and countering the financing of terrorism obligations

On October 11, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) announced settlements of over $24 million...

The United States Department of the Treasury has announced that it is working to address what it perceives as money laundering risks associated with investment advisers.

On December 27, 2024, the Federal Deposit Insurance Corporation (FDIC) announced a notice of assessment of a civil money penalty against a Kansas-based bank.

The GTO elevates reporting obligations for several Miami-based businesses in an effort to shed light on cash transactions that may be tied to trade-based money laundering schemes.