FinCEN announced its long-awaited proposed rule targeting illicit finance in the real estate sector and, on the same day, Treasury released its 2024 national illicit finance risk assessme...
The United States continues to expand sanctions targeting Russia. A new executive order authorizes OFAC to impose secondary sanctions on non-U.S. financial institutions that facilitate tr...
FinCEN released its long-awaited final rule governing access to the national database of beneficial ownership information. The final rule addresses some of the most significant concerns t...
The reporting requirements under FinCEN’s Beneficial Ownership Information Reporting Rule will go into effect on January 1, 2024. As the effective date approaches, FinCEN has issued a n...
FinCEN released a proposed rule that would identify international convertible virtual currency mixing as a class of transactions of “primary money laundering concern” – a designatio...
In a new round of sanctions, the United States targeted third-country entities doing business with Russia, prohibited the export of architecture and engineering services to Russia, and de...
Davis Polk partner Dan Stipano and associates Kendall Howell and Charles Marshall Wilson authored “Anti-money laundering/Countering the financing of terrorism” in the May/June 2023 is...
Treasury’s de-risking strategy breaks no new ground and downplays the government’s role in driving financial institutions to de-risk higher-risk customers based on AML/CFT concerns.
FinCEN issued guidance to help the small business community understand the beneficial ownership information reporting rule requirements that take effect on January 1, 2024. Small business...
