ComplianceAid

On May 5th, 2016, the Financial Crimes Enforcement Network (FinCEN) released the final rule on Customer Due Diligence Requirements and Beneficial Ownership aimed at strengthening the Anti-Money Laundering requirements. This final rule will take effect on July 11, 2016. To … Continue reading →

On February 4th, 2016, the Basel Committee on Banking Supervision expanded its guidelines on Anti-Money Laundering and Countering Terrorist Financing with a “General Guide to Account Opening”. To Access the Guidelines: Click here

The Financial Crimes Enforcement Network (FinCEN) issued on January 13, 2016, a  Geographic Targeting Orders (GTO) that will temporarily require certain U.S. title insurance companies to identify the natural persons behind companies used to pay all cash for high-end residential … Continue reading →

The U.S. Department of the Treasury issued the National Terrorist Financing Risk Assessment 2015. Access full assessment: Click here

The United States formally removed Cuba from a list of state sponsors of terrorism on Friday May 29th, 2015. Access full article: Click here

The Financial Crimes Enforcement Network (FinCEN), working in coordination with the U.S. Attorney’s Office for the Northern District of California, assessed a $700,000 civil money penalty against Ripple Labs Inc. and its wholly-owned subsidiary, XRP II, LLC (formerly known as … Continue reading →

The Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO)  to about 700 Miami businesses to shed light on cash transactions that may be tied to trade-based money laundering schemes. Access full article: Click here

Last Wednesday, the United States published it’s 2015 International Narcotics Control Strategy Report which includes a list of Major Money Laundering Jurisdictions.  Antigua & Barbuda, The Bahamas, Belize, the British Virgin Islands, the Cayman Islands, the Dominican Republic and Haiti … Continue reading →

The Financial Crimes Enforcement Network (FinCEN) recently named Banca Privada d’Andorra (BPA) as a foreign financial institution of primary money laundering concern. “This finding and notice of proposed rulemaking are based on information indicating that, for several years, high-level managers … Continue reading →