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US Treasury escalates financial offensive against fentanyl networks
Sanctions against Mexican financial institutions mark a decisive shift toward targeting the financial arteries of the global drug trade.
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FinCEN issues FY2024 data points; Faulkender describes BSA modernization
FinCEN’s Year in Review provides transparency into the use of BSA data and explains how FinCEN analyzes this.
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GRIP Extra: Ex Goldman partner sentenced, Republicans to limit state AI regulation
Our in-brief roundup also includes China’s new crypto ownership restrictions, Trump’s tariffs, and a multimillion dollar CIRO fine.
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GRIP Extra: Bitcoin hits record high, SEC commissioner slams deregulation
Other news includes China threatening legal action against companies taking US guidance not to buy Chinese chips, and the UK sanctioning an accountant for buying oil tankers for Lukoil.
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Law enforcement opposes rollback of beneficial ownership reporting
As federal rules ease, state and local authorities seek new tools to combat financial crime.
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FinCEN issues analysis of fentanyl-related trends in BSA reports
To combat the illegal production and trafficking of fentanyl, the FinCEN analysis said it relied on the “public-private partnership.”
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FinCEN ends beneficial ownership reporting mandates for US firms
FinCEN removes beneficial ownership reporting requirements for US companies and US persons, but introduces new deadlines for foreign ones.
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FinCEN targets southwest border MSBs to combat drug cartel money laundering
Designation of these cartels is designed to help cut off access by entities associated with the groups to the US financial system.