Nathaniel Botwinick

Aug 27, 2024 | jdsupra.com | Nathaniel Botwinick

The Nevada Gaming Control Board (“Board”) recently filed a complaint (“Complaint”) against Resorts World Las Vegas casino (“Resorts World”), alleging that, despite repeated red flags, Resorts World’s Anti-Money Laundering (“AML”) Committee, executives, and other employees failed to bar Matthew Bowyer and other individuals who were patrons of Resorts World while being suspected of engaging in illegal bookmaking and other illicit activities.

Jun 27, 2024 | jdsupra.com | Nathaniel Botwinick |Michael Guerrero |Peter Hardy

SummaryAfter several years of monitoring and reporting on artificial intelligence (AI) in financial services, the U.S. Department of Treasury (Treasury) has embarked on initial rulemaking efforts and issued a request for information (RFI). Treasury is seeking comments from a broad array of financial services stakeholders on their use of AI, as well as the risks and opportunities the technology poses.

Jun 27, 2024 | ballardspahr.com | Michael Guerrero |Peter Hardy |Kaley Schafer |Nathaniel Botwinick

Summary After several years of monitoring and reporting on artificial intelligence (AI) in financial services, the U.S. Department of Treasury (Treasury) has embarked on initial rulemaking efforts and issued a request for information (RFI). Treasury is seeking comments from a broad array of financial services stakeholders on their use of AI, as well as the risks and opportunities the technology poses.

Jun 17, 2024 | jdsupra.com | Nathaniel Botwinick |Peter Hardy

The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”). Written comments are due by August 12, 2024. AI is a broad topic and the term is sometimes used indiscriminately; as the RFI suggests, most AI systems being used or contemplated in the financial services sector involve machine learning, which is a subset of AI.

Apr 5, 2024 | jdsupra.com | Nathaniel Botwinick

Last week, the United States Attorney’s Office for the Southern District of New York unsealed an indictment against global cryptocurrency exchange KuCoin and two of its founders, Chun Gan and Ke Tang, for allegedly conspiring to operate an unlicensed money transmitting business and conspiring to violate the Bank Secrecy Act (“BSA”) by willfully failing to maintain an adequate anti-money laundering (“AML”) program.