Transactions over $10,000 trigger a currency transaction report under the Bank Secrecy Act. Structuring deposits to avoid reports can still alert banks and lead to a possible suspicious activity ...
-Additionally, the organizational chart must identify (1) voting percentage: the percentage of voting securities for each person identified in the organizational chart and (2) other control: if ...
On November 28, 2023, the California Office of Health Care Affordability (“OHCA”) submitted proposed emergency regulations (the “Regulations”) on the reporting of certain transactions involving health ...
Once a helpful tool for law enforcement, CTRs have become next to useless in the fight against money laundering, write Greg Baer and Gregg Rozansky, of the Bank Policy Institute. "Debanking" has ...
Certain micro-captive transactions are back to being reportable. On January 14, 2025, the Treasury Department and the Internal Revenue Service (“IRS”) published final regulations (the “Regulations”) ...
The IRS routinely monitors abusive tax transactions. If a particular transaction becomes more prevalent, the agency identifies it as a “listed transaction,” requiring self-reporting by taxpayers (IRS ...
Forbes contributors publish independent expert analyses and insights. Steve Weisman writes about white-collar crime. The Department of the Treasury’s Financial Crimes Enforcement Network recently ...
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Hong Kong's SFC sets deadline for crypto firms to report suspicious transaction under new system, STREAM 2
Hong Kong’s Securities and Futures Commission (SFC) has stated that financial institutions must transition to the new ...
Infinox Capital has been fined £99,000 by the watchdog for failing to submit 46,000 transaction reports between 1 October 2022 and 31 March 2023. The UK Financial Conduct Authority (FCA) has served ...
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