The International Enforcement Law Reporter

The International Enforcement Law Reporter is a monthly print and online journal covering news and trends in international enforcement law.

Since September 1985, the International Enforcement Law Reporter has analyzed the premier developments in both the substantive and procedural aspects of international enforcement law. Read by practitioners, academics, and politicians, the IELR is a valuable guide to the difficult and dynamic field of international law.

IRS Issues Final Regs on Reporting Interest Paid to Nonresident Aliens

On April 17, 2012, the U.S. Department of the Treasury and IRS issued final regulations and a revenue procedure implementing the final regulations regarding the reporting requirements for interest that relates to deposits maintained at U.S. offices of certain
financial institutions and is paid to certain nonresident alien individuals. These regulations will affect commercial banks, savings institutions, credit unions, securities brokerages, and insurance companies that pay interest on deposits.

Israel Central Bank Governor Considers Asking Cabinet to Negotiate FATCA Agreement with the U.S.

On April 12, 2012, the Israeli media reported that Bank of Israel Governor Stanley Fischer is considering asking the cabinet to reach a tax agreement with the United States to calm Israeli banks about strict new U.S. tax regulations on Americans living abroad.

US and Colombia Announce Action Plan on Regional Security Cooperation and Heads of State Agree to Combat Transnational Organized Crime

On April 15, 2012, in response to growing bilateral and multilateral dialogues on citizen security, the U.S. President Barrack Obama and Colombian President Juan Manuel Santos announced on the margins of the VI Summit of the Americas in Cartagena, Colombia, that they agreed to deepen coordination of ongoing security cooperation activities throughout the hemisphere and West Africa. Both presidents agreed to formalize this coordination in the form of a U.S.-Colombia Action Plan on Regional Security Cooperation.

ECHR Allows Britain to Extradite Terror Suspects to United States

On April 10, 2012, the European Court of Human Rights (ECHR) ruled that Britain can extradite five suspects to the United States to face terrorism charges.  The individuals had challenged the extradition by claiming that life imprisonment in a U.S. maximum security facility amounted to a violation of their human rights. The conditions in U.S. prisons, according to the ECHR, did not constitute inhumane or degrading treatment.  

OCC Issues Cease and Desist Order against Citibank N.A. for Anti-Money Laundering Violations

On April 5, 2012, the Office of the Comptroller of the Currency (OCC) issued a cease and desist order against Citibank, N.A., Sioux Falls, South Dakota, for violating the Bank Secrecy Act (BSA) and its underlying regulations.

The order requires the bank to take comprehensive corrective actions to improve its BSA compliance program.

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