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Financial Institutions › Money Laundering › Corporate Governance

DarrowEverett LLP

The DOJ’s New White-Collar Agenda: Implications for Businesses

DarrowEverett LLP on

On May 12, 2025, the Department of Justice (the “DOJ”) released its criminal—and, more specifically, white collar crime enforcement—initiatives under the current administration. This is typical each time new leadership...more

Ballard Spahr LLP

Attorney General Bondi Overhauls Justice Priorities

Ballard Spahr LLP on

The new administration has signaled that the Department of Justice (“DOJ”) will significantly shift its approach to criminal corporate enforcement. Specifically, on February 5, 2025, newly-confirmed United States Attorney...more

White & Case LLP

Lessons Learned from DOJ’s First Money Laundering Plea by a Major Financial Institution

White & Case LLP on

On October 10, TD Bank pleaded guilty to violations of the Bank Secrecy Act and conspiracy to commit money laundering. The plea agreement outlines the facts that led to the charges and the consequences the Bank and its parent...more

Fuerst Ittleman David & Joseph

FinCEN Issues Final Rule for Beneficial Ownership Reporting Requirements Under the Corporate Transparency Act

Fuerst Ittleman David & Joseph on

On September 29, 2022, the Financial Crimes Enforcement Network (“FinCEN”) promulgated its much-anticipated Final Rule implementing the beneficial ownership reporting scheme mandated by the Corporate Transparency Act....more

Foodman CPAs & Advisors

FinCEN provides a Section 314(b) welcomed clarification

Foodman CPAs & Advisors on

Section 314(b) of the USA PATRIOT Act (Sec 314) was drafted by Congress in 2001 to allow financial institutions to work with law enforcement agencies and with each other to support the common goal of deterring money...more

Foodman CPAs & Advisors

Did you know that FinCEN maintains Data Access Memoranda of Understanding (MOUs) that have over 12,700 authorized users?

Foodman CPAs & Advisors on

FinCEN has more than 400 data-access MOUs with federal, state, and local law enforcement regulatory agencies relating to BSA data.  It consolidates the information that it receives and shares the consolidated reports with...more

Foodman CPAs & Advisors

While FinCEN lacks Independent Litigating Authority, it is the Regulator for the BSA and is responsible for the administration of...

Foodman CPAs & Advisors on

FinCEN issues implementing regulations that “ensure” compliance with the BSA.  FinCEN delegates its examination authority to federal agencies.  These federal agencies are the “Federal Functional Regulators” who supervise...more

The Volkov Law Group

AML Compliance Lessons Learned from US Bancorp and Rabobank Enforcement Actions

The Volkov Law Group on

Global banks have been the focus of enforcement actions, focusing on AML and sanctions violations.  With the new beneficial ownership regulations effective May 11, 2018, we are about to see a significant transformation in AML...more

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