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Fraud Banking Sector Today's Popular Updates

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
BakerHostetler

Weekly Blockchain Blog - July 2025

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According to a recent press release, the issuer of the USDC stablecoin has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency...more

Holland & Knight LLP

Podcast - Betty... embargaron Ecomoda

Holland & Knight LLP on

En este episodio de "A Lo Legal En Par Minutos", nuestro socio Edwin Cortés y Catalina Gutiérrez, abogada de litigios, conversan sobre una línea argumental de la telenovela colombiana "Betty la Fea" en la que se hace evidente...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

Ankura

Balancing Agility and Speed with Preparation and Stability: Importance of Governance in a Fintech Startup

Ankura on

In all our work with clients, my evaluation and expectations around compliance readiness come down to one point: Governance. This can mean a variety of things when it comes to a compliance program, but overall, we boil it...more

BCLP

Navigating Legal Challenges In French Civil Fraud Cases: An In-depth Analysis

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In recent years, banking fraud in France has surged, driven by advanced technology and the integration of payment methods and mobile banking. We do a deep dive into the legislation to help our clients stay informed and...more

Womble Bond Dickinson

Navigating the Labyrinth: Artificial Intelligence in the Battle Against Trade-Based Money Laundering

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In the rapidly evolving financial landscape, governments worldwide are intensifying their focus on compliance in Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts for financial institutions. Trade-Based Money...more

BakerHostetler

Swiss Banks Launch Crypto Offerings; GAO Addresses SEC Crypto Bulletin; UK and Hong Kong Publish Crypto Guidance; DOJ and SEC...

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Swiss Banks Launch Tokenization Pilot, Crypto Custody and Trading Services - A recent press release announced a pilot by “SIX, the Swiss National Bank (SNB) and six commercial banks” that seeks “to test, in a live...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

WilmerHale

United States V. Danske Bank: New Theory of Liability for Violation of US AML Standards

WilmerHale on

This Article discusses the recent plea agreement between the United States and Danske Bank. It argues that the Department of Justice has advanced a new and evolving theory of liability for foreign banks that access the U.S....more

BakerHostetler

Global Tax Enforcement Group Provides NFT Red Flag Guidance

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Key Takeaways - ..The Joint Chiefs of Global Tax Enforcement (J5) issued its first intelligence bulletin providing guidance to banks, law enforcement partners and private investigators regarding indicators of potential...more

Foley & Lardner LLP

New FinCEN Anti-Money Laundering Priorities

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Financial Crimes Enforcement Network (FinCEN) remains committed to combating money laundering, in all forms, in connection with the banking and financial systems. To this end, on June 30, 2021, FinCEN issued new...more

Holland & Knight LLP

FinCEN Announces National AML/CFT Policy Priorities

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The Financial Crimes Enforcement Network (FinCEN) on June 30, 2021, issued national priorities for anti-money laundering (AML) and countering the financing of terrorism (CFT) policy (the Priorities), as required by the...more

Morrison & Foerster LLP

DOJ Enforcement Actions Involving COVID-19 Relief Fraud: An Update

Soon after Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in March 2020, the Criminal Division of the U.S. Department of Justice (DOJ) moved quickly to address potential COVID-19 related...more

Stinson - Corporate & Securities Law Blog

CFTC Files Its First Anti-Fraud Enforcement Action Involving Bitcoin

The CFTC filed a federal civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Nicholas Gelfman, of Brooklyn, New York, and Gelfman Blueprint, Inc. (GBI), a New York...more

Thomas Fox - Compliance Evangelist

Compliance Lessons for Executive Leadership from The Wells Fargo Investigation Report

Compliance lessons from truly one of the most damning reports of complete corporate failures around ethics and culture that has recently been seen....more

Bilzin Sumberg

CFPB Steps Up Oversight of Companies’ Compensation Programs Following Wells Fargo Scandal

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The Consumer Financial Protection Bureau (CFPB) will likely be weakened by the incoming Trump administration and its Republican allies in Congress. Exactly how, and how much, remains to be seen, however—and, in the meantime,...more

The Volkov Law Group

DOJ Criminal Prosecution of Wells Fargo: What to Expect?

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Compliance and enforcement headlines have focused on the Wells Fargo scandal. And for good reason. On September 8, 2016, the Consumer Financial Protection Bureau, the Comptroller of the Currency and the Los Angeles...more

The Volkov Law Group

After Circling the Wagons: Wells Fargo’s CEO Finally Falls

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The Wells Fargo scandal represents a textbook case of compliance and culture failures. Recently, the scandal and Wells Fargo’s defensive crisis management strategy resulted in CEO Stumpf’s resignation. Stumpf’s demise was...more

The Volkov Law Group

Who is Responsible for a Company’s Mood in the Middle? – the Wells Fargo Fiasco

The Volkov Law Group on

Wells Fargo’s cultural tone is not easily segregated between “top,” “middle” and “bottom.” Despite the recent cross-selling scandal, in which the CFPB led an enforcement action whose fines total a whopping $185 million,...more

Thomas Fox - Compliance Evangelist

Wells Fargo Week: Part V – Compliance is the Answer

I want to end this week’s review of the Wells Fargo scandal by considering what is at issue and what is at stake in this imbroglio. Unlike a Foreign Corrupt Practices Act (FCPA) violation, Wells Fargo paid the relatively...more

Thomas Fox - Compliance Evangelist

Wells Fargo Week, Part III-the Bank Knew All Along

You know it is going to be a very bad day when, as a company’s Chief Executive Officer (CEO), you receive a letter asking the following, “Specifically, the committee should thoroughly examine this issue, including: How it is...more

Foley Hoag LLP - Security, Privacy and the...

New Credit Card Security Doesn’t Go Far Enough

Hardly a week goes by without a news report of a new cyberattack. As any consumer affected by fraud knows, the harm is real. The impact on businesses, government, and other targets is also real, and includes monetary harm...more

BakerHostetler

Consumer Financial Protection Bureau Files Suit Against Company and Individuals Who Allegedly Ran Pension Loan Scam

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On August 20, 2015, the Consumer Financial Protection Bureau (“CFPB”) and the New York superintendent of financial services jointly sued Pension Funding, LLC; Pension Income, LLC; and individuals Steven Covey, Edwin Lichtig,...more

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