Money Laundering: Articles

FinCEN announced that it had increased penalties for violations of the Bank Security Act. The change modifies 31 CFR 1010.821 by increasing the table of penalties found in that regulation. The change increases...Read More

Him Das, the Acting Director of FinCEN, addressed enforcement priorities in a speech to the American Bankers Association. Industry watchers monitor public statements from FinCEN in light of the organization's...Read More

The Financial Crimes Enforcement Network - FinCEN - called attention to environmental crimes in a published notice last week. FinCEN administers rules under the Bank Secrecy Act that obligate banks and other...Read More

FinCEN has issued a new Advisory on Ransomware that expands on its previous report on ransomware trends. The Financial Crimes Enforcement Network (FinCEN) is responsible under the Bank Secrecy Act to develop for...Read More

Beneficial ownership rules in Europe and the U.S. are different but changing fast. As part of the National Defense Authorization Act of 2021 Congress adopted the Corporate Transparency Act (or "CTA"). The CTA...Read More

Fallout from the Pandora Papers continues as the President of Ecuador is under investigation and European leaders are criticizing the U.S. for its lack of money laundering controls. Investigation in...Read More

FinCEN has issued a report on ransomware trends in Bank Secrecy Act data. The report was coordinated with a separate press release from the Treasury Department on its continuing campaign to combat ransomware. The...Read More

The Pandora Papers are drawing attention to the Corporate Transparency Act. Opinion writers in The Washington Post credit the bombshell investigative reporting for underscoring the need to implement this new law. ...Read More

World leaders and high net worth individuals are responding to a massive document dump over the weekend being called the "Pandora Papers." Several major news organizations published the massive haul of documents...Read More

Reuters is reporting that the United Arab Emirates central bank sees increased risks of illicit financial flows emerging from the COVID-19 pandemic, including money-laundering and terrorism financing, in reporting...Read More

FinCEN recently flexed its enforcement muscles by bringing criminal charges against a New Orleans man for failing to register his money transmitting business. Money Transmitting Business The U.S. Treasury...Read More

Peter Stone, an investigative journalist, claims that America has become of the "money laundering capital of the world."Stone claims that the U.S. earned this title because it lacks controls over money flows and...Read More