The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has for the first time ever fined a business in the Los Angeles Fashion District for failing to comply with a geographic targeting order (GTO). A&S World Trading, operating under the… Read More ›
Action to prevent or stem trade-based money laundering (TBML) needs to be better coordinated to battle the world’s kleptocrats according to a comprehensive plan devised by a leading US senator. Sheldon Whitehouse has launched his plan in the wake of… Read More ›
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has issued a request for information (RFI) seeking comments on ways to streamline, modernise and update the country’s anti-money laundering and counter financing of terrorism (AML/CFT) regime. As part of a… Read More ›
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has released a Financial Threat Analysis on wildlife trafficking threat patterns and trend information identified in Bank Secrecy Act (BSA) data. The report aims to further inform efforts to combat wildlife… Read More ›
Financial institutions, businesses and individuals that do not exit supply chains, ventures and investments connected to the Chinese province of Xinjiang could run a high risk of violating US law according to an updated business advisory published by several US… Read More ›
A report on trade-based money laundering (TBML), regulations regarding anti-money laundering and counter financing of terrorism (AML/CFT) requirements for the antiquities trade and a study on money laundering and the art trade are amongst 22 reports, regulations or studies to… Read More ›
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) is mulling different measures to combat trade-based financial crime as it considers what are expected to be sweeping new US priorities in anti-money laundering and counter financing of terrorism (AML/CFT) compliance… Read More ›
Financial institutions should begin preparing for changes to the Bank Secrecy Act (BSA) that respond to new US priorities in anti-money laundering and counter financing of terrorism (AML/CFT) compliance that are expected to be announced by the end of this… Read More ›