On March 20, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published a final rule (Final Rule) extending the recordkeeping requirement for compliance with U.S. economic sanctions regulations from five to 10 years.
Continue Reading US Treasury Extends Recordkeeping Requirement for Economic Sanctions Compliance to 10 Years
On Oct. 11, 2022, the U.S. Treasury Department announced that cryptocurrency exchange Bittrex Inc. had agreed to settle $53 million total in fines over allegations it violated sanctions and anti-money-laundering laws. The fines come after the Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) conducted parallel investigations into Bittrex’s activities.
Shareholders Carl A. Fornaris and William B. Mack of global law firm Greenberg Traurig, LLP will be participating at the Financial Markets Association’s 2017 Treasury and Capital Markets Legal and Legislative Issues Conference, Oct. 25 – Oct. 26. Mack is also a member of the conference’s 2017 Program Planning Committee.
Fornaris will be moderating, “Recent
On April 21, 2015, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN), working in conjunction with U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI) and the South Florida Money Laundering Strike Force, released a rarely-issued Geographic Targeting Order (GTO) for certain areas of Miami-Dade County. The GTO requires certain
In recent months, certain small banks have come under increased investigation by FinCEN, federal bank regulators, and in some instances the Department of Justice (DOJ) for alleged non-compliance with the Bank Secrecy Act (BSA) and alleged failure to implement effective anti-money laundering programs. It is important for small banks to keep this development in mind