Credit card firm Capital One Financial Corp has been fined $390 million for engaging in what the U.S. government called willful and negligent violations of the…
Everyone is wondering if it is too late to stop Iran from getting the bomb.
U.S. presidential candidate Joe Biden has expressed he’d be open to quickly re-entering the Joint Comprehensive Plan of Action (JCPOA) if Iran returns to full compliance. But his predecessor’s hardline policies would probably necessitate expanding the scope of negotiations with Tehran beyond the current deal, leading Iran to adopt an even harder position on its nuclear program.
Biden criticized the Trump administration’s hawkish Iran policy and 2018 withdrawal from the nuclear deal in a Sept. 13 opinion piece, in which he wrote that returning to the JCPOA could be the start of broader diplomacy between Tehran and Washington.
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On December 11, 2020, an annual defense spending bill, the National Defense Authorization Act (the “NDAA”), was presented to the President, having passed both houses of Congress. Within the NDAA, nearly 1,500 pages is the Anti-Money Laundering Act of 2020 (the “AML Act”), which significantly reforms the Bank Secrecy Act (“BSA”) and other anti-money laundering (“AML”) laws. President Trump has until December 23
rd to either sign or veto the NDAA. He has indicated plans to veto the bill based on opposition to other provisions in the bill pertaining to matters unrelated to AML, but given that the bill passed both the House and the Senate with majorities large enough to override a Presidential veto, enactment is likely.
By Kerry Smith
A move to fight money laundering promoted by Sen. Rubio would require shell companies in real estate transactions nationwide to identify their actual owners.
WASHINGTON, D.C. – U.S. Senator Marco Rubio (R-FL) says he secured a provision in the National Defense Authorization Act (NDAA) for Fiscal Year 2021 (H.R. 6395) conference report that will help stop criminals, including sophisticated criminal organizations, from using anonymous shell corporations to engage in illicit activities like money laundering, sex trafficking, fraud, and terrorist financing. The initiative has already passed the Senate.
“In my home State of Florida, including in Miami, our law enforcement professionals know all too well that criminals readily use shell companies to remain anonymous and hide nefarious activity,” Rubio says. “I was proud to help secure this important provision in the NDAA that targets criminals hiding behind shell companies to engage in illicit activities like huma