Entries by admin_fidj

OFAC Compliance Update: OFAC Settlement with Cartier Highlights Need for Robust Due Diligence by Retailers to Ensure Compliance With OFAC Regulations

On September 26, 2017, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a $344,800 settlement with Richemont North America, Inc. d/b/a Cartier (“Cartier”) to settle Cartier’s potential civil liability for four alleged violations of the Foreign Narcotics Kingpin Sanctions Regulations (“FNKSR”) found at 31 C.F.R Part 598.

IRS and FinCEN Offer Relief to Victims of Hurricane Irma

This month, Hurricane Irma ravaged parts of the United States Virgin Islands, Puerto Rico, and the State of Florida leaving in its wake a path of destruction that will take residents months if not years to recover from.

FinTech Seeing Usage Surge, but Some Banks Still Fighting it

When the capabilities of technology increased, the financial sector saw a way to benefit. Financial technology, commonly known as FinTech, complemented the industry by providing fast, efficient ways to handle banking with a touch of a button on a smartphone.

Australian Money-Laundering Alliance a Stretch for U.S.

An anti-money laundering partnership between Australia’s big four banks and the continent’s government designed to share more information in real time is getting good reviews but probably isn’t exportable to the U.S., several lawyers and consultants said.

Marijuana Stocks: How to Invest in Marijuana Today

States are legalizing, decriminalizing, or allowing for the medicinal use of marijuana. And for many opportunistic investors, one question arises over and over again: How do you invest in marijuana?

Feds renew crackdown on dirty money in Miami real estate

After months of “will-they-or-won’t-they” speculation, the U.S. Treasury Department announced Thursday that it will extend its search for dirty money in six high-end real estate markets, including South Florida, for another six months.