News & Analysis as of

Banking Sector Financial Crimes

Stinson LLP

Federal Government Initiatives Combat Fraud and Promote Digitalization of Payments

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Continuing the war on fraud and the attendant financial losses for U.S. businesses, consumers and government alike, the U.S. Department of the Treasury and federal banking agencies have launched a wide-ranging initiative...more

Bradley Arant Boult Cummings LLP

FinCEN’s Groundbreaking 2313a Orders: What U.S. Banks Need to Know About the Crackdown on Mexican Cartel-Linked Financial...

In a historic move that signals a new era in the fight against illicit opioid trafficking and money laundering, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued its first-ever...more

Hogan Lovells

UPDATE: Effective date regarding FinCEN’s new Section 2313a Orders against three Mexican financial institutions

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U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions have until 21 July to implement compliance procedures. Transfers of funds involving these designated Mexican...more

Orrick, Herrington & Sutcliffe LLP

Texas expands its banking commissioner’s powers into money services

On June 20, the governor of Texas signed into law HB 3805, expanding the Texas Department of Banking’s (TDB) enforcement powers over money services businesses. As stated in the state’s bill analysis, the TDB previously had...more

Orrick, Herrington & Sutcliffe LLP

Prudential regulators issue RFI on payments fraud

On June 13, the OCC, the Fed, and the FDIC jointly issued an RFI seeking public input on ways to address rising payments fraud, with a particular emphasis on check fraud. The request for information seeks stakeholder feedback...more

McDermott Will & Emery

Anzeigen digital – BaFin ermöglicht zukünftig digitale Anzeigen zu Geldwäschebeauftragten

McDermott Will & Emery on

Die Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) öffnet ihr Portal der Melde- und Veröffentlichungsplattform (MVP-Portal) zukünftig auch für geldwäscherechtliche Anzeigen. Konkret betrifft dies alle im Voraus...more

Thomas Fox - Compliance Evangelist

10 For 10: Top Compliance Stories For the Week Ending June 14, 2025

Welcome to 10 For 10, the podcast that brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance, brings to you, the compliance professional, the compliance stories you need to...more

Thomas Fox - Compliance Evangelist

10 For 10: Top Compliance Stories For the Week Ending June 7, 2025

Welcome to 10 For 10, the podcast which brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance brings to you, the compliance professional, the compliance stories you need to...more

American Conference Institute (ACI)

[Event] 24th Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 25th - 26th, Toronto, ON, Canada

Canada’s financial sector is facing unprecedented scrutiny, rising enforcement, and evolving compliance risks – are you ready? Join top regulators and industry leaders at CI's 24th Annual Canadian Forum on Anti-Money...more

Mayer Brown

Credibly Challenged Podcast: Interview with Ross Delston, Financial Crime Compliance Expert and Former FDIC Attorney

Mayer Brown on

Matt Bisanz interviews Ross Delston, a financial crime compliance expert and former FDIC attorney. They discuss his views on the trends we should expect to see in financial crimefighting and AML compliance over the next few...more

GeoDataVision

Fraud, the silent epidemic

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Len and Dean examine the rising threat of bank fraud, its financial toll, and how institutions can fight back with technology, education, and compliance....more

Lippes Mathias LLP

The Future of Monitorships

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In 2008, then-President Barack Obama famously said, “Elections have consequences.” Seventeen years later that statement is still true. A change in administration at either the federal or state government level ushers in new...more

Sheppard Mullin Richter & Hampton LLP

Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards

On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000 from a metal fabricator through unauthorized ACH...more

Hogan Lovells

UK: “Duty of retrieval” rejected: why banks do not owe a duty to recover funds lost through APP fraud

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Banking fraud of all types is an ever increasing problem in today’s society, and takes a multitude of forms. On a basic level, frauds can be divided into two types. Unauthorised fraud, where the victim does not provide...more

American Conference Institute (ACI)

[Event] 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems - May 12th - 14th, New York, NY

Meet key stakeholders in Banking, FinTech, and broader payment systems next month at ACI’s 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems. Gain valuable insights from these industry...more

A&O Shearman

UK FCA updated webpage on cash-based money laundering

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The UK Financial Conduct Authority (FCA) has updated its webpage on cash-based money laundering and confirmed its intention to carry out a multi-firm review in this area in the financial year 2025/2026. ...more

A&O Shearman

UK Financial Intelligence Unit SARS report published

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The UK Financial Intelligence Unit (UKFIU) has published its annual report on suspicious activity reports (SARs) for the period between April 2023 and March 2024. The annual report structure has been updated due to a number...more

Mayer Brown

The Supreme Court Continues Its Recent Trend of Rejecting DOJ’s Broad Reading of Federal Criminal Law in Thompson v. United States

Mayer Brown on

On March 21, 2025, the Supreme Court continued its push back on an expansive reading of the federal criminal laws involving fraud and corruption by overturning the false statement conviction of Patrick Daley Thompson. In a...more

Walkers

Understanding the changes to the Proceeds of Crime Act: Insights from our conversation with the FRA

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Businesses must be aware of the three core money laundering offences: concealing, arranging and acquiring (use and possession) criminal property. The FRA has issued a seven-day working period to consider all defence...more

K&L Gates LLP

Combatting Scams in Australia and the United Kingdom

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In response to the growing threat of financial scams, the Australian Government has passed the Scams Prevention Framework Bill 2025. The Scams Prevention Framework (SPF) imposes a range of obligations on entities operating...more

Offit Kurman

Tracing Offshore Accounts in Divorce: How to Uncover Hidden Assets

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Offshore accounts are appealing to those trying to hide money because they offer banking secrecy in certain jurisdictions, lax reporting requirements compared to domestic accounts, and complex structures involving shell...more

Blake, Cassels & Graydon LLP

Survol des développements dans le domaine de la réglementation des services financiers en 2024

La tendance au changement se poursuit dans le domaine de la réglementation des services financiers. En ce début de février 2025, nous vous proposons ci-après un survol des développements notables qui ont eu lieu dans ce...more

Bennett Jones LLP

Canada Announces Significantly Increased Penalties for Money Laundering Failures

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The recent Fall Economic Statement announced the intention of the current Canadian federal government to materially increase the financial (and other) penalties faced by designated individuals and entities doing business in...more

Ankura

Banking as a Service: How Strong Is Your Financial Crime Compliance Partnership?

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The growth in partnerships between banks and Fintech companies through Banking as a Service (BaaS) models presents significant opportunities for innovation across the financial services sector. However, these collaborations...more

Orrick, Herrington & Sutcliffe LLP

OCC highlights recent enforcement actions

On September 19, 2024, the OCC released a list of recent enforcement actions against a federal savings bank, a national bank, and an individual affiliated with a national bank (an institution-affiliated party, or IAP)....more

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