The U.S. Treasury’s FinCEN has issued a high-priority alert (FIN-2025-Alert001) concerning bulk cash smuggling and repatriation schemes orchestrated by Mexico-based transnational criminal organizations (TCOs). These cartels are increasingly leveraging...
Research & insights
Regulatory
Feb 8, 2025 Regulatory, Sanctions, Terrorist Financing
U.S. President Donald J. Trump has issued an executive order (E.O. 14157) on January 20, 2025 to classify certain international criminal cartels and transnational organizations as Foreign Terrorist Organizations (FTOs) or Specially Designated Global Terrorists (SDGTs)...
Nov 12, 2024 Money Laundering, Payments, Regulatory, Terrorist Financing
The Financial Crimes Enforcement Network (FinCEN) has issued an alert (FIN-2024-Alert003) to help financial institutions detect and report financing activities linked to the Iran-backed Lebanese militia and designated Foreign Terrorist Organization (FTO), Hizballah....
Sep 13, 2024 Banking, Regulatory, Sanctions, Technical Compliance
The Office of the Comptroller of the Currency (OCC) has published an AML sanctions consent order for Wells Fargo, highlighting substantial compliance challenges that remain. The comprehensive 28-page order outlines several critical areas requiring attention, including...
Sep 9, 2024 Fraud, Regulatory
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a comprehensive Financial Trend Analysis (FTA) on check fraud connected to mail theft, based on Bank Secrecy Act (BSA) data filed in the six months following FinCEN’s 2023...
Aug 28, 2024 Investment Advisors, Money Laundering, Regulatory
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has issued a final rule requiring certain investment advisers, including Registered Investment Advisers (RIAs) and Exempt Reporting Advisers (ERAs), to implement...
Aug 8, 2024 Regulatory, Technical Compliance
On June 28, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a proposed rule aimed at strengthening and modernizing financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT)...
Aug 6, 2024 Money Laundering, Regulatory
On January 1, 2021, Congress enacted the FY2021 National Defense Authorization Act (NDAA), bringing significant reforms to the U.S. anti-money laundering (AML) regime. The NDAA includes the Anti-Money Laundering Act of 2020 (AML Act) and the Corporate Transparency Act...
Aug 6, 2024 Money Laundering, Regulatory, Terrorist Financing
The official title of the USA PATRIOT Act is "Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001." The purpose of this Act is to deter and punish terrorist acts in the United States...
Aug 6, 2024 Banking, Money Laundering, Regulatory
The Currency and Foreign Transactions Reporting Act of 1970, along with its amendments and related statutes, is collectively known as the Bank Secrecy Act (BSA). This Act authorizes the Department of the Treasury to impose reporting and other requirements on financial...
Aug 6, 2024 Money Laundering, Regulatory, Technical Compliance
This Follow-Up Report (March 26, 2024) analyzes the United States' progress in addressing the technical compliance deficiencies identified in its Mutual Evaluation Report. The United States has made significant progress in relation to Recommendation 24 on transparency...
Aug 6, 2024 Gambling, Regulatory
The American Gaming Association's (AGA) annual State of the States report provides a comprehensive overview of the commercial gaming industry's financial performance in 2023. It includes detailed analyses of the 36 jurisdictions with commercial gaming operations, the...
Aug 6, 2024 Beneficial Ownership, Due Diligence, Regulatory
On July 26, 2024, the Financial Crimes Enforcement Network (FinCEN) issued an essential notice to financial institution customers about reporting beneficial ownership information. The Corporate Transparency Act mandates that certain entities, including small...
Aug 6, 2024 Regulatory, Terrorist Financing, Trafficking
On May 16, 2024, the U.S. Department of the Treasury unveiled the 2024 National Strategy for Combating Terrorist and Other Illicit Financing (2024 Strategy). This critical document addresses the primary threats highlighted in the 2024 National Risk Assessments...