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Federal Prosecutors Unseal Charges Against Bitcoin Exchange Company

On January 27, the U.S. Attorney for the Southern District of New York announced the unsealing of criminal charges against an underground Bitcoin exchanger and the CEO of a Bitcoin exchange company...

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CFPB Joins With DOD, VA, And Others To Launch Servicemember Education...

On January 30 the CFPB, the Department of Defense (DOD), the Department of Veterans Affairs (VA), the FTC, and other federal agencies announced the launch of a new online system designed to collect...

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FinCEN Director Reinforces Enforcement And Compliance Themes, Highlights...

On January 30, in remarks to SIFMA’s AML and Financial Crimes Conference, FinCEN Director Jennifer Shasky Calvery stressed the importance of establishing a “culture of compliance” at financial...

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FinCEN Director Discusses 2014 Priorities

On February 20, in remarks to the Florida International Bankers Association Anti-Money Laundering Conference, FinCEN Director Jennifer Shasky Calvery reviewed FinCEN’s key initiatives over the past...

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Senate Report Urges DOJ Action Regarding Offshore Tax Evasion, Enforcement...

On February 27, the Senate Permanent Subcommittee on Investigations (PSI) issued a report and held a hearing related to its multi-year investigation of offshore tax evasion and the DOJ’s efforts to...

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DOJ OIG Report Critical Of Mortgage Fraud Enforcement Programs

On March 13, the DOJ Office of Inspector General (OIG) issued a report on its audit of the DOJ’s efforts between 2009 and 2011 to pursue alleged mortgage fraud. Of particular note, the report reveals...

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Congressional Democrats Want Meeting With Attorney General On Mortgage Fraud...

On March 17, Senator Elizabeth Warren (D-MA) and Representatives Elijah Cummings (D-MD) and Maxine Waters (D-CA) sent a letter requesting a meeting with Attorney General Eric Holder to review the...

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New York Financial Services Regulator Urges More Enforcement Against...

On March 19, New York State Department of Financial Services (DFS) Superintendent Benjamin Lawsky called on banking regulators to assess whether they are doing enough, particularly with regard to...

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Japanese Trading Company Pleads Guilty In DOJ FCPA Enforcement Action

On March 19, the DOJ announced that Marubeni Corporation, a Japanese trading company, agreed to plead guilty to violating the FCPA by participating in a seven-year scheme to bribe high-ranking...

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DOJ Opinion Release Discusses FCPA Risk Related To Investment Bank’s Buyout...

Recently, the DOJ issued its first opinion release of 2014 regarding application of the FCPA. In this instance, an investment bank and securities issuer who was a majority shareholder of a foreign...

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FinCEN Guidance Updates FATF AML/CFT Deficient Jurisdictions List

On March 25, FinCEN issued an advisory notice, FIN-2014-A003, in which it provided guidance to financial institutions for reviewing their obligations and risk-based approaches with respect to certain...

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State AGs, Mexico Agree To Form AML Working Group

On March 25, California Attorney General (AG) Kamala Harris announced that she and four other state AGs—Suthers (CO), Bondi (FL), Cortez Masto (NV), and King (NM)—signed a letter of intent with the...

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DOJ, SEC Announce More Charges In Broker-Dealer Foreign Bribery Case

On April 14, the DOJ and the SEC announced additional charges in a previously announced case against employees of a U.S. broker-dealer related to an alleged “massive international bribery scheme.” The...

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11th Circuit First To Define “Instrumentality” Under FCPA

On May 16, the U.S. Court of Appeals for the Eleventh Circuit became the first circuit court to define “instrumentality” under the FCPA. U.S. v. Esquenazi, No. 11-15331 (11th Cir. May 16, 2014). The...

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Swiss Bank Pleads Guilty In Alleged Tax Evasion Conspiracy

On May 19, the DOJ announced that a Swiss bank pleaded guilty and entered into agreements with federal and state regulators to resolve a multi-year investigation into the bank’s alleged conspiracy to...

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Treasury Department Announces $21 Million Resolution Of Alleged Iran and...

On June 5, the Treasury Department’s Office of Foreign Assets Controls (OFAC) announced a Dutch aerospace firm has agreed to pay $21 million to resolve allegations that the company violated U.S....

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Court Orders Bank To Forfeit Funds Laundered With Assistance Of Branch Teller

On June 18, the U.S. Attorney for the District of Maryland announced that a federal judge ordered a bank to forfeit  $560,000 in drug proceeds laundered through the bank on which the bank failed to...

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Mortgage Company Resolves HAMP-Related Criminal Allegations

On July 3, the DOJ announced the resolution of a multi-agency criminal investigation into the way a large mortgage company administered the federal Home Affordable Modification Program (HAMP)....

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New FinCEN SAR Summary Report Discusses Bitcoin-Related Filings

On July 18, FinCEN published SAR Stats—formerly called By the Numbers—an annual compilation of numerical data gathered from the Suspicious Activity Reports (SARs) filed by financial institutions using...

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House Oversight Committee Seeks DOJ Documents On RMBS Settlements

On July 24, House Oversight Committee Chairman Darrell Issa (R-CA) sent a letter to Attorney General Holder raising questions about the DOJ’s “inclination to enter into settlement agreements with...

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