Page 3 - Customer Identification Program News Today

Offshore Banking: If you ever applied for a bank account abroad, you might already know how lengthy and painstaking their approval procedure is for

On January 29, 2024, the Bureau of Industry and Security (BIS) at the U.S. Department of Commerce issued a new proposed regulatory rule (the “Proposed Rule”), which will impose...

The Financial Crimes Enforcement Network (FinCEN) requested comments on its Customer Identification Program (CIP) requirements for banks. The agency is…

On March 15, FinCEN issued an administrative ruling affirming that broker-dealers must comply with CIP and CDD requirements when distributing to a beneficiary of IRA funds inherited as part of a charitable estate.

Treasury proposed a new rule that would require investment advisers to establish an AML/CFT program and file certain reports, such as Suspicious Activity Reports (SARs), with FinCEN...

In its latest attempt, the U.S. Department of Treasury, Financial Crimes Enforcement Network (“FinCEN”), will require certain investment advisers to implement compliance measures to...

On January 29, 2024, the Department of Commerce released a proposed rule: Taking Additional Steps To Address the National Emergency With Respect to Significant Malicious Cyber-Enabled Activities...

On February 13, 2024, the Financial Crimes Enforcement Network (“FinCEN”) proposed anti-money laundering (“AML”) compliance obligations for certain investment advisers (the “Proposal”).

On January 29, 2024, the Department of Commerce, Bureau of Industry and Security (BIS) released a proposed rule (Proposed Rule) that would require U.S. cloud services providers (a.k.a....

The U.S. Department of Commerce's ("Commerce") Bureau of Industry and Security ("BIS") has issued a proposed rule (the "Proposed Rule") that would impose significant diligence,...