The Bureau of Industry and Security (BIS) list, also known as the ‘BIS Entity List’, sets out the specific foreign persons (including businesses, research institutions, government organizations, and other legal entities) that are subject to US government licensing and sanctions […]
In September of 2020, a massive leak of reports on potential financial crime filed by banks with the US government made headlines all over the world. Known as “The FinCEN Files” after the US agency that had received the original […]
High Intensity Drug Trafficking Areas (HIDTA) are designations made by the United States government for areas of the country that experience a particularly high volume of drug trafficking. HIDTA programs are intended to help law enforcement agencies in the fight […]
The Ministry of Commerce (MOFCOM China) is the primary government agency responsible for developing and implementing foreign trade policy, import and export controls, and sanctions regulations in the People’s Republic of China. MOFCOM’s history dates back to the foundation of […]
US Challenger Banks Compliance In a changing financial landscape, challenger banks are disrupting the space occupied by traditional banks and financial institutions by offering an array of innovative digital services delivered online. In the United States, recent uptake of challenger […]
UK Anti-Corruption Sanctions Bribery and corruption pose a significant threat to financial systems in every part of the world and facilitate a range of criminal activities such as fraud, embezzlement, money laundering and the financing of terrorism. In 2018, UN […]
In recent years, the rate at which new European Union (EU) Anti-Money Laundering Directives (AMLDs) have emerged has increased significantly. This is in response to a number of influences on the regulatory environment, including innovation in the financial sector, the […]
With the release of the Panama Papers in 2016, the general public got an insight into how complex corporate and legal structures can be used to hide illicit funds and potentially unethical – if still legal – financial practices. Since […]
Cryptocurrencies (also known as virtual assets) are introducing new possibilities for users across the financial landscape but are also disrupting the way regulators and financial institutions deal with criminal threats such as money laundering and the financing of terrorism. Discover […]
Anti-money laundering (AML) continues to be one of the most complex and critical components of financial compliance risk management. As the advancement of technology and innovation evolves both within the financial sector and within financial crime and terrorist financing activities, […]
In 2019, global financial authorities handed down an unprecedented amount of money laundering fines, amounting to around $8.14 billion (including fines imposed for historic offences). While regulators in the United States and the United Kingdom were the most active, penalties […]
Cryptocurrencies or crypto-assets have gained a lot of popularity over the past few years. In particular, during the latter part of 2017 market capitalizations for many of the more prominent cryptocurrencies reached all-time highs. Along with their increased popularity, cryptocurrencies […]
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