Hong Kong’s Securities and Futures Commission (SFC) has stated that financial institutions must transition to the new ...

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 ...

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 ...

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 ...

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 ...

The various forms of information reporting required by the Internal Revenue Code form the backbone of both voluntary compliance with tax laws and the starting point for audits by the Internal Revenue ...

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 ...