Indictment Alleges that Bank and its Officers Used Front Companies to Evade Prohibitions on Iran’s Access to the U.S. Financial System -
The U.S. Attorney for the Southern District of New York has charged Turkish state-owned...more
10/28/2019
/ Bank Fraud ,
Corruption ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Financial Transactions ,
International Emergency Economic Powers Act (IEEPA) ,
Iran ,
Iran Sanctions ,
Money Laundering ,
Money Services Business ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Sanction Violations ,
Turkey ,
United Arab Emirates (UAE) ,
White Collar Crimes
Second Post in a Two-Part Series -
In our first post in this series, we described how the U.S. Senate Committee on Banking, Housing, and Urban Affairs (the “Banking Committee”) met in open session late last week to conduct a...more
12/6/2018
/ Anti-Money Laundering ,
Artificial Intelligence ,
Bank Secrecy Act ,
Beneficial Owner ,
BSA/AML ,
FBI ,
Federal Pilot Programs ,
FinCEN ,
Geographic Targeting Order ,
Legislative Agendas ,
OCC ,
Popular ,
Proposed Legislation ,
Real Estate Investments ,
Regulatory Burden
Last week, the Office of the Comptroller of the Currency (“OCC”) published the Spring 2018 Semiannual Risk Perspective (the “Report”), which uses up-to-date data to identify risks to U.S. banks and measure their compliance...more
6/6/2018
/ Beneficial Owner ,
BSA/AML ,
Customer Due Diligence (CDD) ,
Cyber Threats ,
Cybersecurity ,
Financial Fraud ,
Fraud Prevention ,
Money Laundering ,
OCC ,
Popular ,
Risk Management ,
Third-Party Risk
We discuss two recent federal court opinions addressing two issues of increasing frequency and importance: (i) the potential civil liability of financial institutions to non-customers and other third-parties for alleged...more
11/20/2017
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Financial Institutions ,
Forum Non Conveniens ,
Fraudulent Conveyance ,
Jurisdiction ,
Money Laundering ,
Popular ,
RICO ,
Suspicious Activity Reports (SARs)