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Lexology PRO | Asia-Pacific, Australia, China, etc. | 21 Sep 2023
White-collar crime: top risks and opportunities of AI
Detecting hidden risks, streamlining internal investigations, and drafting policies and procedures are some of the key opportunities and risks that AI is presenting to white-collar crime compliance.
Lexology PRO | Puerto Rico, USA | 18 Sep 2023
Puerto Rican bank fined $15 million for repeated AML violations
FinCEN imposed its first-ever fine on a Puerto Rican international banking entity for repeatedly failing to submit timely suspicious activity reports and other violations of the Bank Secrecy Act.
Fried Frank Harris Shriver & Jacobson LLP | Puerto Rico, USA | 15 Sep 2023
Puerto Rico International Banking Entity Fined for AML/BSA Failures
A Puerto Rico-based International Banking Entity ("IBE") settled charges with FinCEN for failing to (i) file suspicious activity reports ("SARs")…
Fried Frank Harris Shriver & Jacobson LLP | Russia, USA | 11 Sep 2023
FinCEN Highlights Data Trends in BSA Reports on Evasion of Russian Export Controls
FinCEN reported on trends in Bank Secrecy Act ("BSA") data related to suspected evasion of Russia-related export controls. In a Financial Trend…
Orrick, Herrington & Sutcliffe LLP | USA | 4 Aug 2023
FFIEC updates BSA/AML examination manual
On August 2, the Federal Financial Institutions Examination Council (FFIEC) updated its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination…
Lexology PRO | Asia-Pacific, Austria, Canada, etc. | 3 Aug 2023
Financial crime: key compliance updates (19 Jul – 3 Aug)
Deutsche Bank is fined US$186 million for AML and sanctions violations, the UK HMT refuses to regulate cryptoassets like gambling, and US agencies issue guidance on voluntary self-disclosures – plus other key updates.
Lexology PRO | Asia-Pacific, Australia, European Union, etc. | 21 Jul 2023
Binance AML investigations: a global roundup and key compliance lessons
Binance’s trading licences have been revoked by multiple AML authorities around the world. What are the wider lessons businesses can apply to their own AML programmes?
Fried Frank Harris Shriver & Jacobson LLP | USA | 20 Jul 2023
Foreign Bank Sanctioned for Inadequate BSA/AML Controls
The Federal Reserve Board ("FRB") issued a Consent Order to a foreign bank for inadequate Bank Secrecy Act ("BSA")/AML internal controls and other…
Lexology PRO | USA | 12 Jul 2023
How-to guide: How to identify suspicious activity and make a Suspicious Activity Report (SAR) (USA)
This guide will assist in-house counsel and private practice lawyers within financial institutions to ensure suspicious activity reporting compliance.
Lexology PRO | USA | 12 Jul 2023
Checklist: Currency transaction reporting requirements (USA)
This checklist will assist in-house counsel and compliance teams at financial institutions who are responsible for ensuring compliance with currency transaction reporting requirements as required by the Currency and Foreign
