Since the start of 2024, the Financial Crimes Enforcement Network (FinCEN) has zeroed-in on several key issues for domestic financial institutions to keep track of as the new year unfolds. The identification of concerning trends affecting the realms of finance and regulatory compliance have culminated in new guidance from the regulator, this as the federal […]
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The long-awaited Corporate Transparency Act (CTA) is officially in effect as of January 1st, requiring beneficial ownership reporting for both American and foreign companies. The very goal of the CTA is in its name: transparency. Given the increasing prevalence of financial crime seen domestically and abroad, the United States is seeking to expose criminal and […]
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As the 2020’s continue to unfold, the role of artificial intelligence (AI) has become further cemented in the financial realm. New technologies are impacting financial service providers, as well as consumers, in a multitude of ways. Across the financial sector, applications providing new insights for firms with respect to data retrieval and analytics, performance measurements, […]
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As we approach the two-year anniversary of Russia’s unprovoked invasion of Ukraine, the effects of the military conflict continue reverberate on the global financial system. Economic sanctions levied by dozens of major powers around the world have rained down on Russia and Crimea in wake of the onset of the Russo-Ukrainian war, creating a uniquely […]
Read More In recent years, several groundbreaking changes to U.S. domestic and foreign policy initiatives have been brought about as annual provisions of the National Defense Authorization Act (NDAA). With the 2024 iteration of the bill passing through Congress and ultimately signed into law by President Biden in late December, the NDAA has continued its attempts to […]
Read More The passing of the landmark U.S. Corporate Transparency Act (CTA) as part of the greater National Defense Authorization Act in 2021 created a major ripple effect on the American financial realm, one that’s impact is truly beginning to be felt as 2023 draws to a close. Arguably the most significant aspect of the CTA is […]
Read MoreCompliance Management Flaws in corporate culture in recent corporate and institutional scandals have been drawing the public’s attention to corporations and other large entities. The concept of “corporate compliance culture” has come under increasing scrutiny by the public and other parties due to these incidents. Regulators are treating it as a high priority, and boards […]
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Current events have brought to the spotlight the implications of having limited or minimal information on beneficial owners of an account. The leak this week of more than 11 million records from the Panamanian law firm, Mossack Fonseca, has led to a global uproar that prompted Iceland’s prime minister to step aside. An international consortium […]
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2022 was a landmark year for ransomware attacks on major businesses and government agencies both domestically and abroad, with the prevalence of high-profile attacks continuing to rise
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Canadian multinational banking and financial services staple TD Bank is bracing themselves for a potential regulatory storm the likes of which they have never encountered. Reports emerged last week indicating that the financial giant is currently battling claims that their domestic operations are riddled with anti-money laundering-related deficiencies, with the firm expected to face multiple […]
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