Law: Bank Secrecy Act 1970 (USA)

"A monster of complexity”: US Republicans attack new beneficial ownership rules

Republican legislators questioned Treasury officials over how the Financial Crimes Enforcement Network is implementing new rules that require businesses to report information on their beneficial owners, attacking a new filing system as complicated and burdensome.

14 February 2024

ICBC fined $32m in the US for compliance failures, disclosing of confidential information

Investigations by the DFS and Federal Reserve revealed that the Chinese bank’s anti-money laundering and OFAC sanctions screening programmes were deficient for years, among other failings.

22 January 2024

Bank of America faces scrutiny over FBI information sharing

20 November 2023

FinCEN: European countries are being used for potential sanctions evasion

A US Treasury agency has identified Belgium, Germany and the United Kingdom as among the countries where companies may be continuing to trade with Russia following its invasion of Ukraine.

11 September 2023

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