23 04, 2024

ACAMS Hollywood 2024 Conference Recap: Unveiling Strategies to Combat Financial Crime

2024-04-23T09:11:21-04:00

The recent ACAMS conference in Hollywood, FL, served as a pivotal platform for stakeholders in the financial industry to converge and strategize on combating illicit finance, enhancing compliance measures, and addressing emerging threats. Here's a comprehensive recap of the key highlights and insights from the event:  Focus on Preventing Financing to Conflict Zones: Regulators and financial institutions (FIs) emphasized the importance of preventing funds and materials from reaching conflict zones, particularly in the context of [...]

ACAMS Hollywood 2024 Conference Recap: Unveiling Strategies to Combat Financial Crime2024-04-23T09:11:21-04:00
25 03, 2024

Unveiling Trends: FinCEN’s Analysis on Virtual Currency and Human Trafficking

2024-03-25T16:38:55-04:00

In its ongoing efforts to combat illicit financial activities, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has released a Financial Trend Analysis (FTA) shedding light on the intersection of convertible virtual currency (CVC) and online child sexual exploitation (OCSE) and human trafficking. This analysis, based on Bank Secrecy Act (BSA) reporting from January 2020 to December 2021, reveals concerning trends that underscore the need for heightened vigilance and cooperation across financial [...]

Unveiling Trends: FinCEN’s Analysis on Virtual Currency and Human Trafficking2024-03-25T16:38:55-04:00
25 03, 2024

Enhancing Transparency: FinCEN’s Proposal to Combat Money Laundering in U.S. Real Estate

2024-03-25T16:36:24-04:00

As we usher in the new year, U.S. businesses are bracing themselves for a significant shift in regulatory requirements. Effective January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) will enforce the Corporate Transparency Act (CTA), compelling most U.S. companies to report ownership information. This marks a pivotal moment in the fight against tax fraud, terrorism, and money laundering, with implications that extend to businesses of all sizes, including clients served by Vital4.  The U.S. [...]

Enhancing Transparency: FinCEN’s Proposal to Combat Money Laundering in U.S. Real Estate2024-03-25T16:36:24-04:00
15 11, 2023

Navigating the New FinCEN Reporting Requirement: What U.S. Businesses Need to Know

2023-11-16T11:56:12-05:00

As we usher in the new year, U.S. businesses are bracing themselves for a significant shift in regulatory requirements. Effective January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) will enforce the Corporate Transparency Act (CTA), compelling most U.S. companies to report ownership information. This marks a pivotal moment in the fight against tax fraud, terrorism, and money laundering, with implications that extend to businesses of all sizes, including clients served by Vital4.  Understanding the [...]

Navigating the New FinCEN Reporting Requirement: What U.S. Businesses Need to Know2023-11-16T11:56:12-05:00
25 06, 2021

AML Act of 2020

2021-08-04T12:51:11-04:00

Wealthy and influential individuals and companies have used anonymous entities to hide their wealth, as evidenced in the 2016 Panama Papers and 2020 FinCEN Files Investigations. In January 2021, the FY 2021 National Defense Authorization Act became law, including the Anti-Money Laundering Act of 2020 (AMLA 2020). Part of the AMLA 2020 is the Corporate Transparency Act (CTA). The AMLA 2020/CTA amends the Bank Secrecy Act (1970) (among other things) to require that companies (corporations, limited [...]

AML Act of 20202021-08-04T12:51:11-04:00
18 12, 2020

How Businesses Can Prepare for the Upcoming EU 6AMLD

2021-08-04T13:38:09-04:00

In December 2020, the EU's Sixth Anti-Money Laundering Directive (6AMLD) will come into effect, resulting in even more stringent AML regulations for businesses operating within the EU. The 6AMLD will be transposed into national laws in December, and those outside the EU will have until June 2021 to establish their processes. Now is the time to understand what 6AMLD means for your organization and be proactive about the new regulations.   What Exactly is 6AMLD? The new [...]

How Businesses Can Prepare for the Upcoming EU 6AMLD2021-08-04T13:38:09-04:00
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