customer due dilligence CDD

CDD Friendly Reminder from the Agencies to the Banks

July 2022

On 7/6/22, the Agencies (Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the Office of the Comptroller of the Currency) issued a joint statement

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dozen for dirty dozen

Dirty Dozen for 2022

July 2022

According to the IRS, the Dirty Dozen represents the worst of the worst tax scams. The Dirty Dozen is a list that is compiled annually by the IRS in order to alert taxpayers, tax professionals and financial institutions of tax

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digital assets image activos digitales

Digital Asset Report from DOJ

July 2022

A Digital Asset Report was issued on 6/6/22 by the DOJ –  Report pursuant to Section 8(b)(iv) of President Biden’s March 9, 2022, Executive Order on Ensuring Responsible Development of Digital Assets. The Report is presented by Attorney General Merrick

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FATF

FATF 2022 Strategic Initiatives

July 2022

The Financial Action Task Force (FATF) is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering, terrorist financing and financing of weapons of mass destruction.  It is considered to be the global

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tax avoidance evasion fiscal

IRS warns Taxpayers against Tax Avoidance Strategies

July 2022

The IRS wrapped its 2022 Dirty Dozen scams list urging taxpayers to watch out for and avoid being misled by tax avoidance strategies.  Making the 2022 List are Cryptocurrency, non-filing, abusive syndicated conservation easement and abusive micro-captive deals. Taxpayers ought

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FCPA image

FCPA and the CPA

July 2022

FCPA (Foreign Corrupt Practices Act) compliance ought to be at the forefront of companies of all sizes in all industries. Due to the globalization of company operations, as well as   bribes paid to foreign officials   advancing a company’s business interest,

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1099-K Form

1099-K: Will Small Businesses be Ready for the New Form?

July 2022

As a result of the American Rescue Plan Act of 2021, effective for Tax Returns for the Calendar year 2022,  small business that accept payment cards as a form of payment will receive a Form 1099-K for the gross amount

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U.S. passport image

Is your U.S. Passport in Jeopardy?

July 2022

A Taxpayer’s U.S. Passport could be in jeopardy if the U.S. Taxpayer has seriously delinquent tax debt.  The law authorizes the IRS to certify seriously delinquent tax debt to the U.S. State Department for the State Department to take action. 

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fraude and occupational fraud

Occupational Fraud is the Most Common Financial Crime

June 2022

“Occupational Fraud is very likely the costliest and most common form of financial crime in the world” as per the 2022 Report to the Nations issued by the Association of Certified Fraud Examiners (ACFE) – the world’s largest anti-fraud organization. 

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crypto wallet, criptomoneda

¿Está su Criptomoneda en una Billetera Personal o en un Intercambio?

June 2022

La respuesta a la pregunta: “¿Está su criptomoneda en una Billetera Personal o en un Intercambio?” importa, ya que hemos aprendido que las criptomonedas que se mantienen en un “Crypto Exchange” (Intercambio) NO es lo mismo que las criptomonedas que

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accounting services and "sevicios de contabilidad"

OFAC Pone Los Servicios de Contabilidad a los Ciudadanos Rusos Fuera de los Límites

June 2022

Los servicios de contabilidad, la formación de empresas y fideicomisos o los servicios de consultoría de gestión ahora están fuera del alcance de los ciudadanos rusos según el anuncio de la Oficina de Control de Activos Extranjeros (“OFAC”) del Departamento

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accounting services and "sevicios de contabilidad"

OFAC puts Accounting Services to Russian Nationals Off-Limits

June 2022

Accounting Services, Trust and Corporate Formation, or Management Consulting Services are now off limits to Russian Nationals as per the May 8, 2022 U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announcement of a Determination pursuant to

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