bureau of the United States Department of the Treasury
$MS | Morgan Stanley's Compliance Efforts Under Spotlight As Federal Regulators Investigate Handling of Wealth Management Clients
The bank is under scrutiny ... Show more
Uncertainty surrounds CTA — for accountants and small biz: Ongoing court cases and questions about whether accountants can actually work on BOI reporting make ...
accountingtoday.com/news/uncertainty-surrounds-the-corporate-transparency-act-for-accountants-and-small-biz
Sen. Warren calls for increased safeguards in stablecoin legislation: In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator ...
americanbanker.com/news/sen-warren-calls-for-increased-safeguards-in-stablecoin-legislation
Who owns businesses and rentals in California? A lawmaker wants the public to know
mercurynews.com/2024/04/18/who-owns-businesses-in-california-a-lawmaker-wants-the-public-to-know-2/
Tax season nears its end, but uncertainties linger: From BOI reporting to tax legislation in limbo, even the most 'normal' filing season in a several years still ...
accountingtoday.com/news/tax-season-nears-its-end-but-uncertainties-linger
Quick Glance: Gender Pay Gap in UK Supermarkets and Income Impact
- UK supermarkets are closing gender pay gap, with Morrisons experiencing a rise.
- Ocado and Lidl show the most improvements, while Morrisons has the largest gap.
- Hourly pay differences are reported by government service.
- Equality initiatives and workplace improvements at M&S and Co-op.
Cyprus and U.S. to form partnership to combat financial crime - ICIJ: The two countries are finalizing an agreement under which the U.S. Justice Department and ...
icij.org/investigations/cyprus-confidential/cyprus-and-u-s-to-form-partnership-to-combat-financial-crime/
Cyprus and U.S. to form partnership to combat financial crime - ICIJ: The two countries are finalizing an agreement under which the U.S. Justice Department and ...
icij.org/investigations/cyprus-confidential/cyprus-and-u-s-to-form-partnership-to-combat-financial-crime/
Quick Glance: Cyprus and U.S. Join Forces Against Financial Crimes
- The United States and Cyprus are establishing a partnership to combat money laundering and other financial crimes.
- Cypriot law enforcement agencies are set to sign a memorandum of agreement to collaborate with the U.S. Justice Department and Federal Bureau of Investigation.
- The initiative will also involve the U.S. State Department’s Bureau of International Narcotics and Law Enforcement Affairs, along with Cyprus’ Justice Ministry and the country’s Financial Intelligence Unit.
- The partnership was prompted by the findings of the Cyprus Confidential investigation, revealing Cyprus' involvement in moving illicit funds for Russian President Putin and other dictators.
Corporate Transparency Act creates uncertainty in administering bankruptcy cases: Schuyler G. Carroll, Bethany D. Simmons and Noah Weingarten of Loeb & Loeb LLP ...
reuters.com/legal/litigation/corporate-transparency-act-creates-uncertainty-administering-bankruptcy-cases-2024-04-02/
Big Brother, Big Banks censorship collusion should concern every American: We cannot continue to let law enforcement, regulators and banks that are too big to ...
thehill.com/opinion/4538614-big-brother-big-banks-censorship-collusion-should-concern-every-american/
US takes aim at real estate money laundering - ICIJ: A new rule would close a loophole Treasury warns is exploited by bad actors using ill-gotten cash to ...
icij.org/investigations/pandora-papers/us-takes-aim-at-real-estate-money-laundering/
US takes aim at real estate money laundering - ICIJ: A new rule would close a loophole Treasury warns is exploited by bad actors using ill-gotten cash to ...
icij.org/investigations/pandora-papers/us-takes-aim-at-real-estate-money-laundering/
Government Files Notice Of Appeal After Corporate Transparency Act Deemed Unconstitutional
forbes.com/sites/kellyphillipserb/2024/03/12/government-files-notice-of-appeal-after-corporate-transparency-act-deemed-unconstitutional/
Even If You Don’t Owe Tax, You May Need To Report Foreign Gifts And Inheritances: U.S. filing requirements mean you may also need to file tax forms and returns ...
forbes.com/sites/kellyphillipserb/2024/03/06/even-if-you-dont-owe-tax-you-may-need-to-report-foreign-gifts-and-inheritances/
U.S. Proposes Requiring Investment Advisers to Put in Place Anti-Money-Laundering Controls
wsj.com/articles/u-s-proposes-requiring-investment-advisers-to-put-in-place-anti-money-laundering-controls-1482ba25
FinCEN Pressured to Implement Anti-Money-Laundering, Sanctions Whistleblower Program
wsj.com/articles/fincen-pressured-to-implement-anti-money-laundering-sanctions-whistleblower-program-84b2992f
Treasury proposes new anti-money laundering regulations for investment advisers: The Biden administration is rolling out new recordkeeping rules for U.S ...
apnews.com/article/investment-transparency-treasury-fincen-money-laundering-9d64b58bdb1ac0f9fd999dc36c14693e
Republicans spar with Treasury officials over rules to fight financial crime: Many small businesses that would be required to report don't even know about it but ...
axios.com/2024/02/14/beneficial-ownership-regime-house-financial-services
Treasury rolls out residential real estate transparency rules to combat money laundering
apnews.com/article/treasury-regulation-money-laundering-real-estate-housing-7eaeb28e46caa570f00f6e986e9707a4
BIG BROTHER: Terms like "MAGA," "Trump" and "Kamala" were included in the push by federal investigators to surveil private ... Show more trib.al/hblSNIZ
US to Close Loophole Allowing Corrupt Foreign Officials to Buy Properties Anonymously
fij.ng/article/us-to-close-loophole-allowing-corrupt-foreign-officials-to-buy-properties-anonymously/
U.S. SEC Asking for More Millions, Dozens of Lawyers to Beef Up Crypto Oversight: The securities regulator, Treasury Department and U.S. derivatives watchdog are ...
coindesk.com/policy/2024/03/22/us-sec-asking-for-more-millions-dozens-of-lawyers-to-beef-up-crypto-oversight/
Banking Industry May Need to Spend Millions to Gain Access to Company Ownership Database
wsj.com/articles/preparing-to-access-beneficial-ownership-database-will-cost-banking-industry-millions-fincen-estimates-1f4e462d
FinCEN Is Analyzing $165M in Transactions That May Tie Crypto and Hamas, Senior Official Says
coindesk.com/policy/2024/03/14/fincen-is-analyzing-165m-in-transactions-that-may-tie-crypto-and-hamas-senior-official-says/
Federal regulators are probing whether Cash App leaves door open to money launderers, terrorists
nbcnews.com/business/personal-finance/whistleblowers-cash-app-leaves-door-open-money-laundering-terror-rcna138958
Expensive Art at Stake as Venezuelan Banker Faces U.S. Bribery Charges: Organized Crime and Corruption Reporting Project
occrp.org/en/daily/18534-expensive-art-at-stake-as-venezuelan-banker-faces-u-s-bribery-charges
New Ownership Reporting Rules Target Cash Sales Of Residential Real Estate: The proposed regulations would require the reporting of information about ...
forbes.com/sites/kellyphillipserb/2024/02/09/new-ownership-reporting-rules-target-cash-sales-of-residential-real-estate/
Bitcoin Favored in Human Trafficking, Child Exploitation: FinCEN Report: The Treasury's financial-crimes arm found that bitcoin was increasingly popular for ...
coindesk.com/policy/2024/02/13/bitcoin-favored-in-human-trafficking-child-exploitation-fincen-report/
New US company ownership database faces continued political attacks weeks after launch - ICIJ
icij.org/investigations/fincen-files/new-us-company-ownership-database-faces-continued-political-attacks-weeks-after-launch/
Quick Glance: US Company Ownership Registry Faces Political Attacks
- New US company ownership registry targeted by political attacks amidst tensions around transparency tool.
- Registry aims to unmask anonymous shell companies used for hiding dirty money and nefarious activities.
- Over 100,000 companies submitted ownership info after successful launch, but faced criticisms and challenges from business groups and lawmakers.
- Small businesses may face bureaucratic hurdles, but law specifies penalties for willful non-compliance only.
Jordan seeks answers from former Treasury official over flagged ‘MAGA’ transactions
thehill.com/homenews/house/4414581-jordan-seeks-answers-from-former-treasury-official-over-flagged-maga-transactions/
Senior US Treasury official travels to Iraq to counter illicit finance: The U.S. Treasury Department's top sanctions official traveled to Baghdad on Sunday ...
reuters.com/world/middle-east/senior-us-treasury-official-travels-iraq-washington-takes-action-against-bank-2024-01-29/
Yellen says 100,000 firms have joined a business database aimed at unmasking shell company owners
pbs.org/newshour/economy/yellen-says-100000-firms-have-joined-a-business-database-aimed-at-unmasking-shell-company-owners
New U.S. rule targeting real estate money laundering slated for early 2024 - ICIJ
icij.org/investigations/pandora-papers/new-u-s-rule-targeting-real-estate-money-laundering-slated-for-early-2024/
Countries around the world are passing crypto laws — but the U.S. is the top cop out there
cnbc.com/2023/12/31/state-of-crypto-regulation-in-2023-eu-laws-approved-but-us-is-top-cop.html
U.S. Beneficial Ownership Information Registry Is Now Open For Business: U.S. Treasury has announced that it is now accepting beneficial ownership information ...
forbes.com/sites/kellyphillipserb/2024/01/03/us-beneficial-ownership-information-registry-is-now-open-for-business/
FBI called in to help Cyprus investigate Russian sanctions dodging - ICIJ: The U.S. has deployed a team of experts to aid Cypriot authorities' response to ...
icij.org/investigations/cyprus-confidential/fbi-called-in-to-help-cyprus-investigate-russian-sanctions-dodging/
Quick Glance: FBI Assists Cyprus in Investigating Russian Sanctions Violations
- A team of US financial experts is aiding Cyprus in probing suspected Russian sanctions violations following an ICIJ investigation.
- Increased US interest in Cyprus sanctions cases comes after strong reactions from European lawmakers and others to ICIJ's probe.
- Cyprus Confidential exposed how allies of President Vladimir Putin used the country to hide billions of dollars of assets, even after Russia's invasion of Ukraine.
- Cypriot President Nikos Christodoulides pledged to investigate everything that has come to light and sought input from overseas sanctions experts.
Polygon Labs proposes framework to classify DeFi as ‘critical infrastructure’: A new paper proposing tailor-made regulatory solutions for DeFi protocols has been ...
cointelegraph.com/news/polygon-labs-proposes-legal-framework-classify-defi-critical-infrastructure
US accuses Iraqi bank of serving as conduit for terrorism financing: Treasury accuses Al-Huda Bank of diverting 'funds that would otherwise support legitimate ...
thenationalnews.com/world/us-news/2024/01/29/us-sanctions-iraqi-bank-accused-of-serving-as-conduit-for-terrorism-financing/
US Treasury's financial crimes unit lays out access plan for shell company data
reuters.com/world/us/us-treasurys-financial-crimes-unit-lays-out-access-plan-shell-company-data-2023-12-21/
New US company ownership database faces continued political attacks weeks after launch - ICIJ
icij.org/investigations/fincen-files/new-us-company-ownership-database-faces-continued-political-attacks-weeks-after-launch/
Biden administration announces new financial strike force to curb deadly fentanyl trade
cnn.com/2023/12/04/politics/biden-financial-strike-force-fentanyl/
How the world responded to ICIJ’s investigations in 2023 - ICIJ: From government probes to police raids and pop culture, the impact of ICIJ’s unflinching ...
icij.org/investigations/cyprus-confidential/how-the-world-responded-to-icijs-investigations-in-2023/
Last Minute Scramble To Delay New Law Impacting Small Businesses: As of Jan. 1, 2024, many companies will be required to report information to the U.S ...
forbes.com/sites/kellyphillipserb/2023/12/18/last-minute-scramble-to-delay-new-law-impacting-small-businesses/
What Companies, Including Small Businesses, Need To Know About A New Federal Law: Starting Jan. 1, 2024, many companies will be required to report information ...
forbes.com/sites/kellyphillipserb/2023/12/12/what-companies-including-small-businesses-need-to-know-about-a-new-federal-law/
Why Lobbyists Are Still Fighting Congress on Money Laundering: A law to require disclosure of corporate ownership takes effect Jan. 1. Small businesses and banks ...
nytimes.com/2023/12/07/us/politics/corporate-transparency-act-lobbying.html
How the world responded to ICIJ’s investigations in 2023 - ICIJ: From government probes to police raids and pop culture, the impact of ICIJ’s unflinching ...
icij.org/investigations/cyprus-confidential/how-the-world-responded-to-icijs-investigations-in-2023/
Binance CEO Teng braced for uphill battle in post-Zhao era: Spiralling compliance costs, ongoing legal headaches and a shrinking share of the market: Binance's ...
reuters.com/technology/binance-ceo-teng-braced-uphill-battle-post-zhao-era-2023-11-24/
Quick Glance: Binance Faces Billions in Fines, CEO to Step Down Over Money Laundering Charges
- Founder and CEO of Binance, Changpeng Zhao, also known as 'CZ', plans to step down and plead guilty to violating US anti-money laundering regulations, according to a report from the Wall Street Journal.
- The crypto exchange did not respond to multiple requests for comment from TechCrunch regarding the charges.
- Binance was founded in June 2017 and quickly rose to become the world's largest crypto exchange within 180 days.
- In the past 24 hours, Binance's trading volume exceeded $11.6 billion, marking a 515% increase over the second largest exchange, Coinbase, according to CoinMarketCap data.
What small businesses need to know about new regulations going into 2024: NEW YORK — Regulations are a double-edged sword. They're created to improve business ...
postandcourier.com/what-small-businesses-need-to-know-about-new-regulations-going-into-2024/article_80961104-a606-11ee-b627-23bef6a57c8c.html
The 5 New Regulations That Will Affect Small Businesses in 2024: New laws and rules for 2024 affect wages, taxes, loans, labor and financial crimes.
inc.com/associated-press/the-5-new-regulations-that-will-affect-small-businesses-in-2024.html
How Regions Bank unwittingly invited a surge in check fraud: The Alabama-based bank loosened its funds availability policy in 2022 as part of an effort to give ...
americanbanker.com/news/how-regions-bank-unwittingly-invited-a-surge-in-check-fraud
Are You Ready for the Corporate Transparency Act?: CTA, taking effect on Jan. 1, requires many businesses to file with the Financial Crimes Enforcement Network ...
kiplinger.com/business/what-is-the-corporate-transparency-act
FBI to help Cypriot police investigate sanction-busting for Russian oligarchs: Agents will explore how lawyers and accountants in Cyprus helped shield assets of ...
theguardian.com/business/2023/dec/06/fbi-to-help-cypriot-police-investigate-sanction-busting-for-russian-oligarchs
Elon Musk wants your “entire financial life” on X by 2024: X's success as an everything app will "exceed" China's WeChat, Musk says.
arstechnica.com/tech-policy/2023/10/elon-musk-wants-your-entire-financial-life-on-x-by-2024/
Quick Glance: Elon Musk Takes Over Twitter and Causes Chaos
- Elon Musk has negatively impacted Twitter in many ways - for users, advertisers, the internet at large, and potentially even for democracy.
- Musk now offers an imprecisely defined revenue-sharing model for larger accounts, allowing them to earn money from ad impressions around their posts.
- The For You Feed, X's algorithmic fire hose that shows you posts it believes you'll like instead of posts you explicitly want to see, is actually quite good.
- It helps me avoid posts that I might actually like.
Binance warned VIP customers about law enforcement investigations, Treasury says: Binance's VIP users were granted a set of special privileges, including an ...
cnbc.com/2023/11/21/binance-warned-vip-customers-about-investigations-treasury-says.html
Houston businesses worry about burden of law aimed at money laundering: Houston small businesses say the Corporate Transparency Act, aimed at curbing money ...
houstonchronicle.com/business/article/small-business-transparency-act-legal-burdens-18561431.php
Can crypto mixers adapt to survive US authority prosecution?: The issue for U.S. authorities may not strictly be the mixer service itself but rather its largest ...
cointelegraph.com/news/crypto-mixers-adapt-survive-us-authority-prosecution
Binance CEO Teng braces for uphill battle in post-Zhao era: Binance's new chief Richard Teng must deal with years of intrusive US financial monitoring ...
rappler.com/technology/features/binance-richard-teng-uphill-battle-post-zhao-era/
Quick Glance: Former Binance CEO's Stay in US Pending Trial
- Changpeng Zhao, founder and CEO of Binance, must remain in the US until the court in Seattle decides on his stay until his sentencing in February.
- He is a citizen of the United Arab Emirates and Canada and stepped down as CEO of Binance last week after pleading guilty to causing the company to fail to maintain an effective anti-money laundering program.
- The court will review whether Zhao should stay in the US after the US government appealed a decision allowing him to return to the UAE before his February sentencing.
- The government will take a position on the amount of jail time to seek for Zhao, according to a spokesperson for the Justice Department.
Gary Gensler isn’t exactly popular in the world of digital assets.
Being the “bad cop” landed him on the Most Influential list in both 2021 and 2022 ... Show more www.coindesk.com/policy/2021/12/09/most-influential-gary-gensler/ www.coindesk.com/consensus-magazine/2022/12/05/rostin-behnam-gary-gensler-most-influential-2022/ #MostInfluential2023 go.coindesk.com/most-influential-2023-auction?term=organic&utm_campaign=CoinDesk&utm_content=Most+Influential%2Ceditorial&utm_medium=social&utm_source=facebook
Democrats urge feds to update banking ‘red flags’ on legal marijuana businesses: The federal government unfairly penalizes state-legal marijuana businesses whose ...
columbian.com/news/2023/nov/17/democrats-urge-feds-to-update-banking-red-flags-on-legal-marijuana-businesses/
Swan Bitcoin to terminate customer accounts that use crypto-mixing services: Swan Bitcoin co-founder Yan Pritzker said crypto mixing services are painted with a ...
cointelegraph.com/news/swan-bitcoin-terminates-customer-accounts-crypto-mixing-services
US House FSC to discuss illicit activity in crypto at upcoming hearing: The FSC cited a Chainalysis report from January 2023, which states that illicit ...
cointelegraph.com/news/us-fsc-discuss-illicit-activity-crypto-upcoming-hearing
Treasury eyes bank whistleblowers as it steps up sanctions enforcement: The Treasury Department is expanding a whistleblower program, which currently deals only ...
americanbanker.com/news/treasury-eyes-bank-whistleblowers-as-it-steps-up-sanctions-enforcement
After Israel attack, US follows Hamas trail of money: As Israel fights Hamas in the Gaza Strip, the United States is waging its own battle against the militant ...
al-monitor.com/originals/2023/11/after-israel-attack-us-follows-hamas-trail-money
The Other FTX Case: Most of the charges facing SBF won’t ever be relevant to most crypto companies. But charges the government cannot pursue today could be ...
coindesk.com/consensus-magazine/2023/11/02/the-other-ftx-case/
US ‘perfect playground’ for laundering money linked to environmental crimes, new report finds - ICIJ
icij.org/investigations/deforestation-inc/us-perfect-playground-for-laundering-money-linked-to-environmental-crimes-new-report-finds/
US ‘perfect playground’ for laundering money linked to environmental crimes, new report finds - ICIJ
icij.org/investigations/deforestation-inc/us-perfect-playground-for-laundering-money-linked-to-environmental-crimes-new-report-finds/
US Treasury Department removes ‘escape hatch’ for criminals from beneficial ownership reporting form - ICIJ
icij.org/investigations/fincen-files/us-treasury-department-removes-escape-hatch-for-criminals-from-beneficial-ownership-reporting-form/
Russia Suspended From Global Financial Intelligence Group Egmont: Russia has been suspended from the Egmont Group of financial intelligence units.
bloomberg.com/news/articles/2023-10-19/russia-suspended-from-global-financial-intelligence-group
US Treasury unit proposes stepping up scrutiny of crypto mixers: The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Thursday ...
reuters.com/world/us/us-treasurys-financial-crimes-unit-proposes-cracking-down-cryptocurrency-mixers-2023-10-19/
New FinCEN reporting rules approaching : The 'beneficial ownership' disclosure requirements are a challenge for both small businesses and accountants.
accountingtoday.com/news/new-fincen-beneficial-ownership-reporting-rules-approaching
Paid articlePaid
Even though the effective date is less than 90 days away, most businesses are either unaware of it or uncertain how to comply.
Regulators around the globe assert more control over crypto: Law Decoded : Several major financial regulators, both national and international ...
cointelegraph.com/news/regulators-around-globe-assert-more-control-over-crypto-law-decoded-oct-16-23
As US company registry stalls, New York forges its own path toward transparency - ICIJ
icij.org/investigations/pandora-papers/as-us-company-registry-stalls-new-york-forges-its-own-path-towards-transparency/
Quick Glance: New York leads the way in US corporate transparency
- The CTA is hailed as a groundbreaking reform, requiring the creation of a beneficial ownership registry, a database of company owners.
- Under the law, LLCs in New York must report the names of their beneficial owners and business addresses to the New York Department of State.
- Beneficial owners are defined as those who "substantially control" a company or own at least a 25% stake in it.
- LLCs are legitimate business structures that protect owners from personal liability.
US sanctions China-based drug network linked to deadly fentanyl crisis: US sanctions China-based drug network linked to deadly fentanyl crisis
wionews.com/world/us-sanctions-china-based-drug-network-linked-to-deadly-fentanyl-crisis-642308
Quick Glance: US sanctions Chinese firms in fight against Fentanyl distribution network
- Fentanyl, a powerful opioid used as a painkiller or sedative, plays a crucial role in the US drug crisis.
- Attorney General Merrick Garland stated that the drug's distribution network 'often starts with chemical companies in China'.
- China criticized the imposition of sanctions, arguing that the Fentanyl crisis is rooted in the United States itself.
- Companies in the Fentanyl supply chain allegedly use false addresses and labeling to evade identification by law enforcement.
US set to unveil long-awaited crackdown on real estate money laundering: The U.S. Treasury Department will soon propose a rule that would effectively end ...
reuters.com/world/us/us-set-unveil-long-awaited-crackdown-real-estate-money-laundering-2023-08-10/
Quick Glance: USA to Crack Down on Real Estate Money Laundering
- FinCEN plans to propose a rule this month to combat money laundering in the real estate industry.
- The timeline may be subject to change, according to sources.
- Treasury Secretary Janet Yellen has highlighted the long-standing issue of hiding illicit funds in real estate.
- An estimated $2.3 billion was laundered through the US real estate market between 2015 and 2020.
The allure of automated financial systems and yields once as high as 20% has drawn legions of investors and developers to the DeFi fold over the past few years ... Show more trib.al/fWbrXzs
A new trend in regtech is a gift to money laundering criminals: The move to create data consortia and proprietary information networks is creating exactly the ...
americanbanker.com/opinion/a-new-trend-in-regtech-is-a-gift-to-money-laundering-criminals
Paid articlePaid SAFE Banking Act Hits a 'Sweet Spot': This Week in Cannabis Investing: A committee vote on the SAFE Banking Act, which aims to improve cannabis companies' access ...
kiplinger.com/investing/marijuana-stocks/safe-banking-act-this-week-in-cannabis-investing
US Authorities Warn of "Pig Butchering" Investment Scam: Organized Crime and Corruption Reporting Project
occrp.org/en/daily/18026-us-authorities-warn-of-pig-butchering-investment-scam
Russia is benefiting from Canada’s lax approach to sanctions enforcement : This information, of course, isn’t coming from Ottawa. Transparency isn’t the Canadian ...
theglobeandmail.com/business/commentary/article-russia-is-benefiting-from-canadas-lax-approach-to-sanctions/
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