Money Laundering

U.S. Treasurer Anna Escobedo Cabral announced new outreach materials for money services businesses (MSBs) in seven foreign languages. In addition to English, the materials are now available in Spanish, Chinese, Vietnamese, Korean, Arabic, Farsi and Russian.

The materials were produced in these languages to enhance MSB outreach efforts to ethnic communities affected by Bank Secrecy Act (BSA) requirements. The Financial Crimes Enforcement Network administers the BSA.

MSBs generally provide non-traditional financial services, including check cashing, money orders, fund transfers and utility bill payment services. MSBs are considered to be a high-risk category for money laundering and other financial crimes. About 40 million Americans who do not maintain bank accounts regularly rely on MSBs for financial transactions.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.