Popular, Fraud, Banks

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

Hogan Lovells on 4/18/2025

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

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

BCLP on 7/30/2024

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

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

WilmerHale on 4/10/2023

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

[Event] 17th Edition Fraud, Asset Tracing & Recovery Geneva - March 16th - 17th, Genève, Switzerland

American Conference Institute (ACI) on 2/15/2023

Hosted by C5, the 17th Edition Fraud, Asset Tracing & Recovery Geneva returns for another exciting year with curated programming that will address historic government enforcement announcements, new strategies to tackle the...more

Financial Firms Move to Integrate Cryptocurrencies, Blockchain Solutions Announced Across Markets, Agencies Target Crypto Crimes...

BakerHostetler on 2/15/2021

Payment Firms Adopt Cryptocurrencies, Company Purchases $1.5 Billion in Bitcoin - According to a press release, last week the Office of the Comptroller of the Currency provided conditional approval to Protego Trust Bank for a...more

Financial Daily Dose 10.15.2019 | Top Story: Uber lays off 350 more corporate workers in effort to control costs

Robins Kaplan LLP on 10/15/2019

Ride-hailing giant Uber laid off 350 workers on Monday as part of an ongoing effort to pare costs that now represents 1000 jobs cut since July....more

Global Privacy & Cybersecurity Update Vol. 13

Jones Day on 3/15/2017

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

DOJ Criminal Prosecution of Wells Fargo: What to Expect?

The Volkov Law Group on 10/19/2016

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

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

The Volkov Law Group on 10/17/2016

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

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

The Volkov Law Group on 9/27/2016

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

Wells Fargo Week: Part V – Compliance is the Answer

Thomas Fox - Compliance Evangelist on 9/23/2016

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

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

Thomas Fox - Compliance Evangelist on 9/21/2016

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

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

BakerHostetler on 8/27/2015

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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