News & Analysis as of

Bank Fraud Money Laundering

Reveal

A Guide to Bank Fraud Investigations

Reveal on

Banking looks very different today than it did even 20 years ago. Banks have far fewer face-to-face interactions as more customers migrate to online or app-based banking services....more

The Volkov Law Group

Danske Bank Pleads Guilty and Pays $2 Billion to Resolve Massive Fraud Case

The Volkov Law Group on

Danske Bank, the largest bank in Denmark, agreed to plead guilty to fraud and paid $2 billion to settle long-standing anti-money laundering and fraud violations stemming from its banking operations in Estonia.  Danske Bank...more

Skadden, Arps, Slate, Meagher & Flom LLP

Key Takeaways From Danske Bank’s Settlement of DOJ and SEC Fraud Charges Over Its Anti-Money Laundering Compliance

On December 13, 2022, Danske Bank A/S, headquartered in Denmark, pled guilty to one count of conspiracy to commit bank fraud (18 U.S.C. § 1349) and agreed to forfeit approximately $2.06 billion to resolve an investigation by...more

Oberheiden P.C.

Financial Crimes Compliance

Oberheiden P.C. on

Many businesses and businesspeople are exposed to potential legal liability for a wide variety of financial crimes. Minimizing financial crime risk or exposure is critical and requires strict compliance with the state and...more

Fox Rothschild LLP

The Federal Government’s Continued Focus on COVID-19 Aid Fraud Leads to New Charges, Convictions and Sentencings

Fox Rothschild LLP on

The Justice Department recently announced new charges, convictions and sentencings in its ongoing initiative to target pandemic-related fraud, emphasizing the government’s commitment to identify and hold accountable those who...more

Gray Reed

IRS-Criminal Investigations Counts Down the Top 10 Cases of 2021

Gray Reed on

“The investigative work of 2021 has all the makings of a made for TV movie – embezzlement of funds from a nonprofit, a family fraud ring that stole millions in COVID-relief funds and a $1 billion Ponzi scheme used to buy...more

ArentFox Schiff

Investigations Newsletter: Four Convicted of Scheme to Fraudulently Obtain Millions in COVID-19 Relief Programs

ArentFox Schiff on

After an eight-day trial, a federal jury convicted four California residents for their scheme to submit fraudulent loan applications seeking millions of dollars in the Paycheck Protection Program (PPP) and Economic Injury...more

Arnall Golden Gregory LLP

Update: The Growing Wave of PPP Loan Prosecutions

As the pandemic slowly recedes, leaving a host of hastily-enacted funding and programs in its wake, the government’s recovery and clean-up efforts are well underway. In April and May 2021, the Department of Justice (DOJ)...more

White & Case LLP

FinCEN and US Federal Banking Agencies Clarify Risk-Based Obligations on Politically Exposed Persons

White & Case LLP on

The US Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (Agencies)1 issued a joint statement on August 21, 2020, regarding Bank Secrecy Act/anti-money laundering (AML) regulatory requirements for...more

ArentFox Schiff

Investigations Newsletter: Nine Individuals Charged in $24 Million Paycheck Protection Program Fraud Scheme

ArentFox Schiff on

Nine Individuals Charged in $24 Million Paycheck Protection Program Fraud Scheme - In one of the largest COVID-relief fraud cases to date, nine Ohio and Florida individuals are alleged to have conspired to obtain...more

Burr & Forman

DOJ Announces Trio of PPP Fraud Prosecutions

Burr & Forman on

This week the US Department of Justice (“DOJ”) announced a trio of criminal prosecutions for fraudulent PPP loan applications. Each involved inter-agency investigations involving the IRS Criminal Investigation Division...more

Ballard Spahr LLP

Federal Court Makes Clear That International Financial Institution Must Appear for Arraignment in Criminal Action

Ballard Spahr LLP on

Court Rejects Attempt by Halkbank to Enter “Special Appearance” Contesting Jurisdiction - Turkish state-owned bank Halkbank’s efforts to avoid appearing in U.S. federal court for arraignment were squashed recently in a...more

Ballard Spahr LLP

FinCEN Identifies Iran as a Jurisdiction of Primary Money Laundering Concern

Ballard Spahr LLP on

On October 25, 2019, FinCEN issued a final rule imposing the Fifth Special Measure against the Islamic Republic of Iran as a “jurisdiction of primary money laundering concern” (“Final Rule”) under Section 311 of the USA...more

Ballard Spahr LLP

DOJ Charges Turkish State-Owned Halkbank With Money Laundering, Fraud, and Iran-Related Sanctions Offenses

Ballard Spahr LLP on

Indictment Alleges that Bank and its Officers Used Front Companies to Evade Prohibitions on Iran’s Access to the U.S. Financial System - The U.S. Attorney for the Southern District of New York has charged Turkish state-owned...more

Ballard Spahr LLP

The EU’s Efforts to Combat Money Laundering, the Financing of Terrorism and Corruption Seem to Overlook a Very American Approach:...

Ballard Spahr LLP on

The European Union (“EU”) recently has grappled with a series of massive money laundering scandals and strategized about how to more effectively combat international money laundering and corruption. Generally, the EU has...more

ArentFox Schiff

New Huawei Rule: What it Means for US Companies

ArentFox Schiff on

In another blow to Huawei, on August 7, 2019, the Department of Defense (DoD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA) issued an interim rule amending the Federal...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - March 2018

ANTICORRUPTION DEVELOPMENTS – Canadian Mining Company Settles with SEC over FCPA Charges – On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to...more

Shook, Hardy & Bacon L.L.P.

Food & Beverage Litigation Update | January 2018

FDA Announces Intent Not to Enforce Portions of FSMA - The U.S. Food and Drug Administration (FDA) has announced it will not enforce certain provisions of the Food Safety Modernization Act (FSMA) because the agency needs...more

Orrick, Herrington & Sutcliffe LLP

What the Second Circuit Did and Didn't Tell Us About RICO's Reach

On Oct. 30, 2017, the Second Circuit issued its opinion in Bascuñán v. Elsaca, becoming the first court of appeals to address the requirement that a private claim under the Racketeer Influenced and Corrupt Organizations Act...more

Akin Gump Strauss Hauer & Feld LLP

Tackling a Panamanian Money Laundering Organization: OFAC Sanctions the Waked Money Laundering Organization, Colombia Arrests the...

OFAC Sanctions - On May 5, 2016, the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) announced sanctions against 77 entities and individuals associated with the Waked Money Laundering Organization...more

22 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide