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AML Recent Developments: What Practitioners Need to Know  


Author:  Betty Santangelo.; Melissa G.R. Goldstein.; Hannah  Thibideau.


Source: Volume 55, Number 19, November 1 2022 , pp.219-224(6)




Review of Securities & Commodities Regulation

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Abstract: 

Recent AML legislation includes the AML Act of 2020, the Corporate Transparency Act, and FinCEN’s initiatives in this area. In this article, the authors discuss these developments and then turn to other aspects of the AML Act and its implementation. These include FinCEN’s first set of government-wide priorities for AML and counter-terrorist financing; a pilot program on sharing SARs with affiliates; and AML issues in ransomware, decentralization, and microcap securities. Finally, they note recent enforcement actions, including a $100 million fine levied on Bitmex, a digital assets entity.

Keywords: Corporate Transparency Act; CTA Rule; Ransomware and Cryptocurrencies; Microcap Securities; Enforcement Actions: Bittrex, Bitmex, Bitgo

Affiliations:  1: Schulte Roth & Zabe LLP; 2: Schulte Roth; 3: Schulte Roth.

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