A Field Guide to Coming AML/BSA Reforms
Recent legislative changes will keep banks’ Bank Secrecy Act officers busy for years to come. Here’s a CEO’s-eye view of...
What Compliance Needs to Know About Hemp
While the 2018 Farm Bill authorized production and processing of hemp plants with less than 0.3% THC content, bankers need...
Compliance and the Cannabis Conundrum
For an industry caught between state and federal law, a change can’t come soon enough.
FinCEN Withdraws Proposed Rulemaking against Lebanese Canadian Bank SAL
The Financial Crimes Enforcement Network (FinCEN) is withdrawing its proposed rulemaking to impose special measures against Lebanese Canadian Bank SAL...
U.S. Revises Cuba Sanctions Regulations
The Departments of the Treasury and Commerce announced additional revisions to the Cuban Assets Control Regulations (CACR) and Export Administration...
Joint Plan of Action Sanctions Relief with Iran Extended; Treasury Issues Statement
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on July 14 released a statement on the...
FinCEN Targets Stolen Identity Tax Fraud in South Florida
The Financial Crimes Enforcement Network (FinCEN), in coordination with the Internal Revenue Service (IRS) and the U.S. Attorney’s Office for...
FATF Plenary Meets in Brisbane, Welcomes New FATF President
The Financial Action Task Force (FATF) Plenary held in Brisbane, Australia on June 26 adopted a number of reports including...
Banks Join DOJ’s Swiss Bank Program
The Justice Department announced last week that four banks — Société Générale Private Banking (Lugano-Svizzera), MediBank AG, LBBW (Schweiz) AG,...
FinCEN Underscores Culture of Compliance at BSA Conference
In remarks at the 2015 Bank Secrecy Act Conference in Las Vegas, Nevada on June 18, the Financial Crimes Enforcement...
