With the December 2023 enactment of the Foreign Extortion Prevention Act ("FEPA"), the United States' anti-bribery laws now penalize the "demand-side" of foreign bribery. While, for decades, the Foreign Corrupt Practices Act...more
On October 4, 2023, United States Deputy Attorney General (DAG) Lisa Monaco announced a new Department of Justice (DOJ) Mergers & Acquisitions Safe Harbor policy that encourages companies to self-disclose criminal misconduct...more
11/10/2023
/ Acquisitions ,
Antitrust Division ,
Corporate Crimes ,
Corporate Governance ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Enforcement ,
Mergers ,
Policies and Procedures ,
Policy Statement ,
Remediation ,
Safe Harbors
Anatoly Legkodymov, Russian founder of Hong Kong-registered cryptocurrency exchange Bitzlato Limited ("Bitzlato"), was arrested on January 17 based on an Amended Complaint filed by the Department of Justice ("DOJ") charging...more
2/7/2023
/ Anti-Money Laundering ,
BSA/AML ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptocurrency ,
Dark Web ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Transactions ,
FinCEN ,
Fund Transfers ,
Licensing Rules ,
Money Laundering ,
Office of Foreign Assets Control (OFAC)
The New York State Department of Financial Services ("NYDFS") announced on January 4 that it had reached a $100 million settlement with Coinbase, Inc. ("Coinbase") for failures in its Bank Secrecy Act and anti-money...more
Latin American fintech companies are uniquely placed to pioneer new and better approaches to compliance across the region.
With innovation at their core, fintech businesses recognize that a strong compliance program...more
The US Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (Agencies)1 issued a joint statement on August 21, 2020, regarding Bank Secrecy Act/anti-money laundering (AML) regulatory requirements for...more
9/24/2020
/ Bank Fraud ,
BSA/AML ,
Corruption ,
Customer Due Diligence (CDD) ,
FATF ,
Federal Bank Regulatory Agencies ,
Financial Institutions ,
FinCEN ,
Joint Statements ,
Money Laundering ,
National Security ,
Politically Exposed Person (PEPs) ,
Risk Assessment ,
Senior Foreign Political Figures (SFPFs)