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White Collar Crimes Financial Institutions

Stankie Law

Important Sanctions Compliance Lessons from OFAC’s $11.8m Settlement with Interactive Brokers

Stankie Law on

On July 15, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement agreement with Interactive Brokers LLC (“Interactive Brokers”) violations of multiple U.S. sanctions...more

Harris Beach Murtha PLLC

The DOJ’s Top Priorities in White Collar Crime

The Department of Justice (DOJ), through the Office of the Assistant Attorney General, has issued a memorandum outlining DOJ’s primary points of focus in white-collar crime. The memo details how white-collar crime is...more

Wiley Rein LLP

[Podcast] Signed, Sealed, Prosecuted: The UK Post Office Scandal

Wiley Rein LLP on

Join hosts Tatiana Sainati and Diana Shaw as they unravel one of the most shocking corruption scandals in modern British history – the UK Post Office Horizon debacle. From a centuries-old institution to a catastrophic IT...more

Bradley Arant Boult Cummings LLP

Washington’s War on Cartels Continues: What Financial Institutions Should Know About Oil Smuggling, Money Laundering &...

The Trump administration remains focused on countering Mexican cartels and other Latin American transnational criminal organizations (TCOs). Since designating eight TCOs as foreign terrorist organizations (FTOs), the...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

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

A&O Shearman

U.S. DOJ announces substantial strategic shifts in white-collar crime enforcement

A&O Shearman on

A new U.S. DOJ memo published on May 12 announces significant changes to the DOJ’s white-collar crime enforcement priorities, aligning the DOJ’s approach with the Trump Administration’s “America First” agenda. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

DOJ Unveils White Collar Enforcement Overhaul: New Incentives, Streamlined Policies and Expanded Whistleblower Rewards

Revisions to Department of Justice (DOJ) white collar enforcement policies provide enhanced incentives for voluntary self-disclosure and clarify the consequences of failing to disclose wrongdoing. At the same time, expanded...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Financial Regulation Update

The first four months of 2025 proved busy for the UK’s financial regulators, with both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) publishing their strategy and business plan documents. As...more

Benesch

Fraud by Omission? How Thompson v. United States Could Narrow the Reach of the Federal Wire, Mail, and Bank Fraud Statutes

Benesch on

The vast majority of federal white-collar fraud enforcement actions are prosecuted under the wire, mail, or bank fraud statutes.  18 U.S.C. §§ 1341, 1343, and 1344. The Supreme Court’s recent decision in Thompson v. United...more

DLA Piper

Recent Settlement Demonstrates DOJ’s Focus on Foreign Entities Misrepresenting Anti-Money Laundering Compliance

DLA Piper on

The US Department of Justice (DOJ) has announced that Wall Street Exchange (WSE), a Dubai-based money exchange service provider, entered into a non-prosecution agreement (NPA) and agreed to pay more than $9.2 million to...more

Fox Rothschild LLP

The Presumption of Innocence Podcast: Episode 50 - Hidden in Plain Sight: How Kleptocrats Exploit U.S. Financial Systems

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The shadowy finances that fueled the 9/11 terrorist attacks cut a somber scar into America. Despite the anti-money laundering initiatives woven in the Patriot Act, that wound continues to fester, according to Casey Michel,...more

A&O Shearman

The FCA's non-financial misconduct survey: decoding the findings

A&O Shearman on

In February 2024, the FCA sent a survey to 1,028 wholesale firms (insurers, market intermediaries, banks and brokers) asking about recorded incidents of non-financial misconduct between 2021 and 2023. With a 96% response...more

A&O Shearman

UK FCA proposals to publicise enforcement investigations: Unanswered questions remain

A&O Shearman on

Last week, the UK Financial Conduct Authority (FCA) unveiled a 'Part 2' consultation paper detailing a revised version of its controversial proposals to publicly name firms under enforcement investigation. This development...more

The Volkov Law Group

OFAC Imposes $860,000 Penalty on Vietnamese Beverage Company for Violations of North Korean Sanctions

The Volkov Law Group on

North Korea Sanctions Violations - In a recent enforcement action, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) imposed an $860,000 penalty on Vietnam Beverage Company Limited (“VBCL”), a...more

The Volkov Law Group

Episode 343 -- TD Bank Agrees to Pay Over $3 Billion for Systemic Violations of Bank Secrecy Act and Money Laundering Violations

The Volkov Law Group on

How does a respected financial institution turn into a criminal operation? In this episode of Corruption, Crime, and Compliance, host Michael Volkov dives into the record-breaking $3 billion settlement between TD Bank and the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Fintech Focus Podcast | Sanctions Compliance: Regulators Set Their Sights on Fintechs

As regulators such as the UK’s Financial Conduct Authority have turned their attention to fintechs, sanctions compliance will remain a priority for the sector. Joseph Kamyar is joined by white collar defense and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Sanctions Compliance: Regulators Set Their Sights on Fintechs

As regulators such as the UK’s Financial Conduct Authority have turned their attention to fintechs, sanctions compliance will remain a priority for the sector. Joseph Kamyar is joined by white collar defense and...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)

The Volkov Law Group on

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

The Volkov Law Group

TD Bank’s $3 Billion Settlement: A Review of Regulatory Settlements  (Part III of IV)

The Volkov Law Group on

TD Bank’s $3 billion settlement included coordinated regulatory settlements with the Federal Reserve Board (“Federal Reserve”), The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”), and the...more

Thomas Fox - Compliance Evangelist

TD Bank: Part 2 – When Profits Trump Compliance: A Recipe for Corporate Disaster

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

The Volkov Law Group

TD Bank Agrees to Pay Over $3 Billion for Systemic Violations of Bank Secrecy Act and Money Laundering Violations (Part I of IV)

The Volkov Law Group on

In yet another reminder of the scope of Justice Department enforcement powers, and an important demonstration of the risks of non-compliance, the Justice Department and relevant banking agencies announced a $3 billion...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

Quarles & Brady LLP

Expansion of DOJ White Collar Whistleblower Programs to Local US Attorney’s Offices

Quarles & Brady LLP on

In August, the Department of Justice’s Criminal Division announced the launch of a Corporate Whistleblower Awards Pilot Program, building off an earlier pilot program started in the Southern District of New York to encourage...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Updates Sanctions Best Practices, Clarifying Ownership Threshold for Asset Freeze Restrictions

The Council of the European Union (Council) has updated its EU Best Practices for the Effective Implementation of Restrictive Measures. Published on 3 July 2024, the new version clarifies the threshold for the ownership test...more

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