A Look at Forensic Accounting and Financial Fraud
The US Department of Justice (DOJ) has announced that Wall Street Exchange (WSE), a Dubai-based money exchange service provider, entered into a non-prosecution agreement (NPA) and agreed to pay more than $9.2 million to...more
Mortgage companies must maintain a heightened level of vigilance when it comes to preventing mortgage fraud. The incidence of fraud attempts targeting mortgage companies continues to rise, prompting decisive action against...more
The New York Department of Financial Services (“NYDFS”) has brought action in Federal court against Citibank, N.A., alleging that the bank systemically failed to protect accountholders from rampant online scam activity,...more
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
On December 30, the FDIC released a list of orders of administrative enforcement actions taken against banks and individuals in November. The FDIC made public nine orders consisting of “two consent orders; two orders...more
On December 13, 2022, Danske Bank A/S, headquartered in Denmark, pled guilty to one count of conspiracy to commit bank fraud (18 U.S.C. § 1349) and agreed to forfeit approximately $2.06 billion to resolve an investigation by...more
Many businesses and businesspeople are exposed to potential legal liability for a wide variety of financial crimes. Minimizing financial crime risk or exposure is critical and requires strict compliance with the state and...more
In accordance with recent UK Finance statistics, in 2019 banks and card companies prevented £1.8 billion in unauthorised payment fraud and between 2018 and 2019 APP fraud losses increased by almost 30% to £456 million. In...more
Last Friday, the White House asked the SEC to “consider eliminating requirements that publicly traded companies post quarterly earnings reports.” Such disclosures, however, are required by federal securities law, so they’re...more