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Anti-Money Laundering › Regulatory Violations › BSA/AML

Troutman Pepper Locke

OCC Patriot Bank Order Spotlights AML Issues For Managers

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On Jan. 14, Patriot Bank, based in Stamford, Connecticut, entered into an agreement with the Office of the Comptroller of the Currency to address and rectify several alleged unsafe or unsound practices and violations of law....more

Ballard Spahr LLP

Patriot Bank Enters Agreement with OCC to Address Regulatory Concerns

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On February 20, 2025, the Office of the Comptroller of the Currency (“OCC”) announced that they had entered into a formal agreement with Patriot Bank, National Association (“Patriot Bank”), following a comprehensive...more

Thomas Fox - Compliance Evangelist

TD Bank: Part 4- Watergate, Actual Knowledge and Conscious Indifference

Thomas Fox - Compliance Evangelist on

Mike Volkov often told the story of watching the Watergate Hearings as a teenager and being a seminal influence on his later professional life in the legal profession and government service. It was my first exposure to...more

Ballard Spahr LLP

KuCoin and Founders Charged with Operating Illegally as Money Transmitter and Futures Commission Merchant

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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...more

Robinson+Cole Data Privacy + Security Insider

New York DFS Fines Robinhood $30M for “Significant” Cybersecurity Violations

Robinson+Cole Data Privacy + Security Insider on

The New York Department of Financial Services (DFS) announced its first ever penalty against a cryptocurrency platform this week, with a whopping $30 million fine assessed against Robinhood Crypto, LLC (RHC) for what it...more

K2 Integrity

Regulatory Tolerance Wearing Thin When it Comes to AML Deficiencies

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The Financial Conduct Authority’s (FCA’s) inaugural use of its criminal money laundering powers under Regulation 45 of the UK Money Laundering Regulations 2007 (MLR) against NatWest is viewed by many as a warning shot to...more

The Volkov Law Group

FinCEN Settles with Capital One for $390 Million for AML Violations

The Volkov Law Group on

In a harbinger of future enforcement actions surrounding AML compliance program violations, the Treasury Department’s The Financial Crimes Enforcement Network announced a $390 million settlement with Capital One for...more

Ballard Spahr LLP

Practical Tips in Action: The Mashreqbank AML Enforcement Action

Ballard Spahr LLP on

NYDFS Action Highlights the Need for Good Monitoring – and Good Consultants - In part one of this two-part post, we provided some practical tips for financial institutions to increase the chances that their Anti-Money...more

Ballard Spahr LLP

Continued Individual Liability Under the Bank Secrecy Act: The SEC Targets Two AML Compliance Officers and One CEO for Alleged...

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A recent anti-money laundering (“AML”) enforcement action reminds us of the increasing risk of individual liability for alleged violations of the Bank Secrecy Act (“BSA”), a key issue about which we have blogged....more

Moore & Van Allen PLLC

Anti-Money Laundering and Bank Secrecy Act Update

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After the Panama Papers exposed efforts by wealthy individuals and government officials to hide funds offshore, government authorities around the world have responded with new legislation, regulations and enforcement actions...more

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