Summary -
The Department of Justice (DOJ) last week issued revisions to the Criminal Division’s Corporate Enforcement Policy that incentivize companies to promptly self-disclose corporate misconduct, cooperate with the DOJ,...more
Summary -
The Third Circuit’s recent opinion in United States v. Banks changes how loss calculations impact sentencing guidelines under U.S.S.G. § 2B1.1, the Federal Sentencing Guidelines that govern the vast majority of...more
On October 19, 2022, the U.S. Attorney’s Office for D.C., on behalf of the Financial Crimes Enforcement Network (“FinCEN”), filed a civil complaint against Larry Dean Harmon (“Harmon”), seeking $60 million in civil penalties...more
Earlier this year, U.S. President Joe Biden requested an increase in spending for the Financial Crimes Enforcement Network (“FinCEN”) to $210 million. Last week, the U.S. House of Representatives (the “House”) passed a bill...more
On April 28, 2022, the Acting Director of the Financial Crimes Enforcement Network (“FinCEN”), Himamauli Das (“Das”), appeared before the U.S. House Committee on Financial Services to provide an update on FinCEN’s...more
But AML Concerns Linger As To “High End” Art and NFTs -
On February 4, 2022, the U.S. Department of the Treasury published a study (the “Study”) on the facilitation of money laundering (“ML”) and terrorist financing (“TF”)...more
Global environmental crime—the third largest illicit activity in the world, according to a report by the FATF—is estimated to generate hundreds of billions in illicit proceeds annually. This criminal activity harms human...more
Danske Bank (Danske) recently secured a big victory in the United States Court of Appeals for the Second Circuit. On August 25, 2021, the appellate court unanimously affirmed the Southern District of New York’s dismissal of...more
Summary -
The Tokyo Olympics is the United States’ first opportunity to target and prosecute doping conspiracies under the Rodchenkov Anti-Doping Act (Rodchenkov Act), an act that criminalizes conspiracies surrounding the...more
FATF Issues White Paper Addressing Challenges Facing Beneficial Ownership Collection -
First Post in a Series on the FATF Plenary Outcomes -
The Financial Action Task Force (“FATF”) held its fourth Plenary, virtually,...more
Seventh Post in an Extended Series on Legislative Changes to BSA/AML Regulatory Regime -
On April 5, 2021, the Financial Crimes Enforcement Network (“FinCEN”) issued an advance notice of proposed rulemaking (“ANPRM”) to...more
The U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) brought actions against SpaceX engineer James Roland Jones for selling insider information on what’s known as the dark web....more
Revisions to BSA Will Inform Regulatory Examinations for Years to Come -
Third Post in an Extended Series on Legislative Changes to BSA/AML Regulatory Regime -
As we have blogged, the Anti-Money Laundering Act of 2020...more
On November 25, 2020, Natalino D’Amato (“D’Amato”), a Venezuelan executive, was charged in an 11-count indictment with allegedly laundering $160 million between 2013 and 2017. The indictment, filed in the Southern District...more
Advisory Suggests that COVID-19 Pandemic Exacerbates Conditions Contributing to Trafficking -
The Financial Crimes Enforcement Network (“FinCEN”) recently issued an Advisory on Identifying and Reporting Human Trafficking and...more
“Front” Seafood Businesses Allegedly Hid the Proceeds From Smuggled Shark Fins and Marijuana Distribution -
Last week, the U.S. Attorney’s Office for the Southern District of Georgia unsealed an indictment returned in July,...more
9/11/2020
/ Anti-Corruption ,
Anti-Money Laundering ,
Corruption ,
Criminal Conspiracy ,
Criminal Investigations ,
Criminal Prosecution ,
DEA ,
Department of Justice (DOJ) ,
Drug Trafficking ,
Enforcement Actions ,
FATF ,
Indictments ,
Mail Fraud ,
Money Laundering ,
Popular ,
Smuggling ,
US Fish and Wildlife Service ,
White Collar Crimes ,
Wildlife Protection ,
Wire Fraud
Indictment Again Highlights the Role of Correspondent Banking in Money Laundering -
On May 28, 2020, the U.S. Department of Justice (“DOJ”) unsealed a 50-page indictment against 28 North Korean and 5 Chinese bankers...more
6/4/2020
/ Anti-Money Laundering ,
Blocked Person ,
China ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FATF ,
Financial Crimes ,
Financial Transactions ,
FinCEN ,
Foreign Correspondent Banking ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
Indictments ,
Money Laundering ,
National Security ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
SDN List
In response to the COVID-19 pandemic and the shortage of necessary medical supplies, U.S. Attorney General William P. Barr, in a memo released on March 24, 2020, announced the creation of a special, nationwide task force to...more
3/26/2020
/ Antitrust Provisions ,
Antitrust Violations ,
Coronavirus/COVID-19 ,
Corruption ,
Defense Production Act ,
Department of Justice (DOJ) ,
Goods or Services ,
Internet Retailers ,
Price Gouging ,
Price Inflation ,
Unfair or Deceptive Trade Practices ,
White Collar Crimes