FinCEN

Anti-Corruption
FinCEN
Freshly Brewed
Money Laundering

FinCEN: Real Estate Geographic Targeting Orders Reissued; Expansion of Coverage to 12 Metro Areas

Nov. 15, 2018:  The Financial Crimes Enforcement Network (FinCEN) issued a statement that it revised the Geographic Targeting Orders (GTOs).  The GTOs require US title insurance companies to identify actual persons that are behind shell companies that purchase residential real estate in all-cash transactions and transactions using virtual currency.  Previously, the GTOs covered a defined geographic […]

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Cases
DOJ
FinCEN
Fraud
North Korea
OFAC
Sanctions
SDN

OFAC: North Korea SDN Designations; Money Laundering and North Korean Strategies with the International Financial System

10-25-18, OFAC updated its SDN list and named Tan, Wee Beng with an address in Singapore as an SDN under North Korea Sanctions Regulations.  We reported this in our previous post, which can be accessed here.  To expand on this post, the Treasury Department also issued a press release discussing the new SDN, Tan Wee […]

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FinCEN
Iran
Sanctions

FinCEN: Iranian Regime Advisory

10-11-18 FinCEN issued an advisory in connection with Iranian’s regime’s activities and attempts to exploit the financial system.  Specifically, FinCEN issued this advisory to “to help U.S. financial institutions (particularly banks; money services businesses (MSBs), such as virtual currency administrators and exchangers; and dealers in precious metals, stones, and jewels) better detect potentially illicit transactions related to the […]

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