Included in the AML ACT of 2020 is the Corporate Transparency Act which outlines Beneficial Ownership Reporting Requirements

March 2021

The Corporate Transparency Act (CTA) is within the AML Act of 2020.  It establishes Beneficial Ownership Information Reporting Requirements to facilitate important national security, intelligence, and law enforcement activities; and confirm beneficial ownership information provided to financial institutions to facilitate

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New Criminal Offenses related to Foreign Political Figures and Money Laundering Entities

February 2021

Regarding assets belonging to Senior Foreign Officials, Section 6313 of the AML Act of 2020 prohibits the concealment of the source of those assets in monetary transactions or involving Institutions of primary Money Laundering concern as two new criminal offenses. 

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Nuevas Ofensas Penales Relacionadas con Figuras Políticas Extranjeras y Entidades de Lavado de Dinero

February 2021

Con respecto a los activos que pertenecen a Altos Funcionarios Extranjeros, la Sección 6313 de la Ley ALD del 2020 prohíbe el ocultamiento de la fuente de esos activos en transacciones monetarias o que involucren Instituciones de principal preocupación por

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Foreign Bank and the New Longer Arm of the US Treasury and DOJ

February 2020

Before passage of the AML ACT of 2020 (the “ACT”), The US Department of the Treasury, and the US Justice Department (DOJ) had US legal authority to subpoena foreign banks with US correspondent accounts for related US records including records

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Bancos Extranjeros y el Nuevo Alcance de Brazo Largo del Tesoro de los EE. UU y el “DOJ”

February 2021

Antes de la aprobación de la LEY AML del 2020 (“AML ACT of 2020”), el Departamento del Tesoro de los EE. UU. y el Departamento de Justicia de los EE. UU. (“DOJ”) tenían la autoridad para citar (“subpoena”) a los

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FinCEN provides further SAR Clarity

February 2021

On January 19, 2021, FinCEN issued Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations.  The answers to seven questions were provided by FinCEN in response to recent Bank Secrecy Act Advisory Group (BSAAG) recommendations,

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FinCEN proporciona mayor claridad sobre el “SAR”

February 2021

El 19 de enero del 2021, FinCEN emitió respuestas a preguntas frecuentes sobre informes de actividades sospechosas y otras consideraciones contra el lavado de dinero. FinCEN proporcionó las respuestas a siete preguntas en respuesta a las recomendaciones recientes del Grupo

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¿Estarán las Instituciones Financieras Preparadas para la Propuesta de Reglamentación del “Travel Rule”?

February 2021

El “Travel Rule” es una regla de la Ley de Secreto Bancario (“BSA”) regla [31 CFR 103.33(g)] y requiere que todas las instituciones financieras transmitan cierta información a la siguiente institución financiera, en ciertas transferencias de fondos que involucren a

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Comisionado del IRS envía un Mensaje Importante a los Contribuyentes de Altos Ingresos que No Declaran

January 2021

El 3 de diciembre del 2020, el IRS publicó “Cómo el IRS prioriza el trabajo de cumplimiento en los no declarantes de altos ingresos a través de esfuerzos nacionales e internacionales” en el Estudio titulado “Closer Look”.  El estudio se

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IRS Agents Use Methods of Proof

December 2020

The IRS has tools inside of its Internal Revenue Manual (“IRM”) available to its agents for determining a Taxpayer’s taxable income as well as documenting its adjustments and corrections through what it calls “Methods of Proof”.  The IRM describes seven

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“Reasonable Cause” When Dealing with the IRS

December 2020

On November 5, 2020, the IRS removed the Delinquent Information Submission Procedure Program from its Offshore Compliance Options Menu.  Before the removal of this program, a US Taxpayer could file a “delinquent” international information tax return with what is known

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