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Criminal Prosecution Anti-Money Laundering Financial Crimes

The Volkov Law Group

Episode 377 -- Refocusing Due Diligence on Cartels and TCOs

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Could your supply chain be funding cartels without you realizing it? In today’s complex global economy, companies are grappling with a dual challenge - the urgent need to unravel their supply chains and the immediate...more

Akerman LLP

Bringing Money Into the U.S.: Declare It or Risk Serious Consequences

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Bringing money, whether cash or other forms, into or out of the United States is generally legal, no matter the amount. However, the U.S. government requires you to report large sums....more

Paul Hastings LLP

Criminal Division White Collar Enforcement Plan: Turning the Page, Not Writing a New Book

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On May 12, the Head of the U.S. Department of Justice (DOJ) Criminal Division, Matthew Galeotti, delivered remarks at the Securities Industry and Financial Markets Association’s Anti-Money Laundering and Financial Crimes...more

Troutman Pepper Locke

DOJ’s Criminal Division Announces Updates to White-Collar Enforcement and Corporate Policies

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On May 12, 2025, the Head of the Criminal Division (the Criminal Division or Division) at the Department of Justice (DOJ), Matthew R. Galeotti, issued key memoranda to Criminal Division personnel on the Division’s new...more

Hogan Lovells

The Sword and the Scales: Enforcement and restraint in the ongoing development of Singapore’s AML framework

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The Singapore Anti-Money Laundering and Other Matters Act 2024 (the “Act”), which came into effect at the end of 2024, concluded a year of legislative developments in Singapore that were aimed at strengthening the country’s...more

Barnea Jaffa Lande & Co.

The Italian Mafia, Interpol and unrecovered billions: the global battle over organized crime money

In early January 2025, Interpol published its first Silver Notice seeking information about assets held worldwide by a senior member of the Italian mafia. The Silver Notice is the latest addition to Interpol’s suite of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Europol Published Practical Guide for Cooperation Between Financial Institutions and Investigative Authorities

Public-private partnerships across the world between financial institutions, financial intelligence units and investigative authorities have laid the foundation to advance criminal investigations. However, there is further...more

White & Case LLP

United States Designates Eight Cartels and Transnational Criminal Organizations

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Effective February 20, 2025, the United States Designated Eight Cartels and Transnational Criminal Organizations (TCOs) as Foreign Terrorist Organizations (FTOs) and Specially Designated Global Terrorists (SDGTs)....more

Skadden, Arps, Slate, Meagher & Flom LLP

Annual Report Highlights France’s Financial Crime Enforcement and International Cooperation

Ten years after its establishment, France’s National Financial Prosecutor’s Office (Parquet National Financier or PNF) has released its 2024 annual report (Report),1 showcasing a year of consolidation and innovation in the...more

White & Case LLP

Course correction: The Supreme Court’s decision in El-Khouri and its impact on extraterritoriality in money laundering cases

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The UK Supreme Court has handed down its decision in El-Khouri (Appellant) v Government of the United States of America (Respondent). Amongst other things, the judgement has overturned the often-criticised Court of Appeal...more

White & Case LLP

First unexplained wealth order may provide a welcome boost for the Serious Fraud Office

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When they were introduced in 2017, Unexplained Wealth Orders ("UWOs") were hailed as an important new law enforcement tool, which would allow more robust and effective investigation of the suspected proceeds of crime....more

The Volkov Law Group

TD Bank’s Rotten Corporate Culture — From its Store-Level Operations to its Board’s Audit Committee (Part IV of IV)

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TD Banks’ complete compliance disaster was reflected in every aspect of TD Bank’s business and compliance operations. It is not surprising that TD Bank’s deficient BSA and AML compliance program was known by its Board of...more

Thomas Fox - Compliance Evangelist

TD Bank: Part 3 – Lessons Learned for Compliance

We continue our exploration of the resolution of the AML/BSA enforcement action involving the TD Bank US (the Bank) wholly owned by the TD Bank Group, a publicly traded (NYSE: TD) international banking and financial services...more

Thomas Fox - Compliance Evangelist

TD Bank: Part 1-Money Laundering and the China Syndrome

Last week, representatives of the US government announced one of the largest sets of fines and penalties for failures in anti-money laundering ever laid down. It involved TD Bank N.A. and TD Bank US Holding Company. It was...more

The Volkov Law Group

Sterling Bank’s ex-General Counsel hit with OCC Cease-and-Desist over Longstanding BSA/AML Shortcomings

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The Treasury Department’s Office of the Comptroller of the Currency (“OCC”) has taken action against the former General Counsel of Michigan-based Sterling Bank and Trust in the agency’s latest action against an individual...more

Ballard Spahr LLP

Criminal Case Round-Up: Recent Prosecutions Involving Financial Institution Officers

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The Department of Justice (“DOJ”) has been very active in the Bank Secrecy Act (“BSA”) / Anti-Money Laundering (“AML”) space, as reflected by a recent series of individual prosecutions and corporate non-prosecution agreements...more

Ballard Spahr LLP

DOJ Bolsters International Cooperation to Combat Corruption

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Summary - The Department of Justice (DOJ) has created the International Corporate Anti-Bribery initiative (ICAB), which aims to strengthen the United States’ global efforts in combating corruption through enhanced...more

Skadden, Arps, Slate, Meagher & Flom LLP

DOJ Relies on Traditional Statutes To Charge Defendants in Cryptoasset Fraud Cases

Two recent indictments highlight the Department of Justice’s (DOJ’s) continuing use of the traditional wire fraud, money laundering and identity theft statutes to pursue fraud involving digital assets, indicating that law...more

Orrick, Herrington & Sutcliffe LLP

U.S., German law enforcement disable darknet crypto mixer

On March 15, U.S. law enforcement, along with German criminal authorities, disabled a darknet cryptocurrency “mixing” service used to allegedly launder more than $3 billion in cryptocurrency underlying ransomware, darknet...more

White & Case LLP

Bitzlato Founder Charged With Facilitating Money Laundering of More than $700 Million in Dark Web Funds

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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

Oberheiden P.C.

AML Enforcement

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Federal law enforcement takes money laundering and other suspicious transactions extremely seriously. Unfortunately, this does not mean that legal scrutiny is confined to the criminal actors and organizations that launder...more

Steptoe & Johnson PLLC

The Corporate Transparency Act

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The Corporate Transparency Act (CTA), included as an amendment to the Anti-Money Laundering Act of 2020, was passed by Congress this year as an effort to make it more difficult to commit “shell company” money laundering, tax...more

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