A comprehensive guide to the US Anti-Money Laundering Act (AMLA), the most significant AML legislation passed by Congress in decades.
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In the United States, geographic locations that present a particularly high risk of money laundering and financial crime may be designated high-risk money laundering and related financial crime areas, also referred to as high-intensity financial crime areas (HIFCA). Intended to […]
The US Foreign Corrupt Practices Act (FCPA) is a federal law intended to prevent US citizens from bribing the government officials of foreign countries. The FCPA was enacted by Congress in 1977 in response to revelations by the Securities and […]
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 […]
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 against […]
In a constantly evolving financial landscape, challenger banks have become increasingly mainstream, with one study suggesting 14 percent of UK adults hold an account with one of the four largest institutions. Challenger banks disrupt the space occupied by legacy banks […]
OFAC sanctions fines and how to avoid them International sanctions are a vital part of the global fight against money laundering and the financing of terrorism. In the United States, economic sanctions are implemented by the Treasury’s Office of Foreign […]
Sanctions – restrictions and penalties imposed in response to violations of international law and threats to global security – are a key tool of US foreign policy. A wide range of sanctions allows the US to achieve policy objectives by exerting […]
Canada’s status as the second-largest economy in North America and as a major center for business and finance means it faces significant money laundering risks. In 2021, the Financial Action Task Force (FATF) provided an update on its assessment of […]
Canada has a history of underperformance with respect to following Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) best practices, but the country has consistently improved to close the gap. Based on the findings of FATF’s most recent mutual evaluation, it […]
The Bank Secrecy Act (BSA) is a US federal law that contains measures to combat money laundering and other financial crimes. It is a central piece of legislation in the overall US anti-money laundering and countering the financing of terrorism […]
As the largest economy in the world and an influential political power, the United States plays a vital role in the global fight against money laundering and the financing of terrorism. The US is a member of the Financial Action […]