Source: FinCEN Office of Strategic Communications, press@fincen.gov Immediate Release December 16, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced that it has assessed an $8 million civil penalty on Community Bank of Texas, N.A. (CBOT) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. Specifically, CBOT admitted that it willfully failed […]

November 09, 2021 The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a Finding of Violation (FOV) to Mashreqbank psc for violations of the now-repealed Sudanese Sanctions Regulations (SSR), as part of a global settlement between Mashreqbank psc (Mashreqbank), the New York State Department of Financial Services (DFS), and the […]

Source: FinCEN Office of Strategic Communications, press@fincen.gov November 09, 2021 WASHINGTON—Today, the Financial Crimes Enforcement Network (FinCEN) convened a virtual FinCEN Exchange with members of the financial industry and law enforcement to discuss FinCEN’s analysis of suspicious activity reporting (SAR) with a transactional nexus to Alabama, Florida, Georgia, Mississippi, and South Carolina.  Topics of discussion […]

Iran’s chief nuclear negotiator says the resumption of negotiations is aimed at removing US-imposed sanctions. European External Action Service Deputy Secretary General Enrique Mora and Iranian Deputy Minister of Foreign Affairs Abbas Araghchi wait for the start of talks on reviving the 2015 Iran nuclear deal in Vienna, Austria June 20, 2021 [File: EU Delegation […]

Source: AICPA Journal of Accountancy The employee retention credit will be terminated early and broker reporting of cryptoasset transfers will be required as a result of legislation (H.R. 3684) that passed the House of Representatives late Friday and is headed to President Joe Biden’s desk to be signed into law. Known as the Infrastructure Investment […]

Soruce: OFAC        PRESS RELEASES Treasury Continues Campaign to Combat Ransomware As Part of Whole-of-Government Effort October 15, 2021 WASHINGTON – Building on the first-ever designation of a virtual currency exchange for facilitating transactions for ransomware actors, the U.S. Department of the Treasury announced additional steps today to help the virtual currency industry prevent exploitation by sanctioned […]

Source: FinCEN   Office of Strategic Communications, press@fincen.gov Immediate Release, October 29, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate.  The purchase amount threshold remains […]

Source: DOJ Wednesday, October 6, 2021 Deputy Attorney General Lisa O. Monaco Announces National Cryptocurrency Enforcement Team Deputy Attorney General Lisa O. Monaco announced today the creation of a National Cryptocurrency Enforcement Team (NCET), to tackle complex investigations and prosecutions of criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing, and tumbling […]

Published: Saturday, 30 October 2021 08:39 Source: Office of the White House October 30, 2021 – Joint Statement by the President of France Emmanuel Macron, Chancellor of Germany Angela Merkel, Prime Minister of the United Kingdom and Northern Ireland Boris Johnson, and President of the United States Joseph R. Biden, Jr. on Iran. We, the President of France, […]

Issue Number: Tax Tip 2021-95 It’s important for all taxpayers to know their rights in case they need to work with the agency on a tax matter. The Taxpayer Bill of Rights, lists, and defines 10 fundamental rights of every taxpayer. Included on that list is the Right to Quality Service: Taxpayers have the right […]