Reported by Teresa Moss A year extension to the filing deadline for the Corporate Transparency Act (CTA) is buried in the text of a congressional continuing resolution to fund the government proposed by the U.S. House of Representatives. An injunction, issued by the U.S. District Court for the Eastern District of Texas earlier this month, already halts […]

Reported by David Danzis Las Vegas casinos, with their massive cash flows, are prime targets for money laundering schemes. Despite strict Federal authorities and state regulations, recent incidents involving major casino operators like MGM Resorts, Wynn Resorts, and Resorts World Las Vegas have highlighted failures in anti-money laundering (AML) compliance. These cases have amplified scrutiny […]

Reported by Mae Anderson Small business owners should not forget about a rule — currently in legal limbo — that would require them to register with an agency called the Financial Crimes Enforcement Network, or FinCEN, by Jan. 1. The registration is part of the Corporate Transparency Act, an anti-money laundering statue passed in 2021. […]

Reported by David G.W. Birch In the past, bank robberies were straightforward crimes where thieves stole money, which belonged to the banks, not individuals. However, modern criminals now target personal data, which is far more valuable and has wide-reaching consequences. Financial institutions hold vast amounts of personal information, and the theft of this data, as […]

Reported by Erica Kollmann SEC Charges Cantor Fitzgerald With Causing 2 SPACs To Make Misleading Statements The Securities and Exchange Commission on Thursday charged  financial services firm Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies that it controlled to make misleading statements to investors ahead of their initial public offerings.  The SEC’s Order states that a team […]

Reported by CBS News A U.N. envoy on Sunday called for a quick end to Western sanctions against Syria as the country’s new leaders and regional and global powers begin to chart a path forward following the fall of President Bashar Assad. The Syrian government has been under strict sanctions by the United States, the European Union and […]

Reported by Insider Rob Holmes is a private investigator. He works with major luxury-watch brands to track down fakes and stop them from getting to market. Holmes speaks with Business Insider about how counterfeits are made in factories overseas. He gives details about how fake luxury goods are trafficked into the United States and distributed […]

Reported by Yihui Xie Jewelry stores across China have been receiving mysterious, unusually large orders for gold bars from customers who ask for the precious metal to be posted to faraway addresses in the nation. In one case, an online romance scammer convinced a woman in the eastern city of Hangzhou to buy 19 million […]

Reported by Armstrong Teasdale LLP On Dec. 3, the U.S. District Court for the Eastern District of Texas issued a nationwide injunction that prohibits enforcement of the Corporate Transparency Act (31 U.S.C. § 5336) and the Reporting Rule (31 C.F.R. 1010.380), and stayed the end-of-year compliance deadline for filing Beneficial Ownership Information (BOI) reports. The […]

Reported by Reuters (Summary below) A federal judge in Texas, Amos Mazzant, issued a nationwide injunction blocking the enforcement of the Corporate Transparency Act (CTA), a 2021 law requiring corporate entities to disclose their beneficial owners to the U.S. Treasury Department. Judge Mazzant ruled that the law is likely unconstitutional, siding with plaintiffs, including the […]