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Deferred Prosecution Agreements Financial Institutions

Blank Rome LLP

U.S. Government Enters into Deferred Prosecution Agreement with Indonesian Paper Producer for Violations of U.S. Sanctions Regime

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PT Bukit Muria Jaya (“BMJ”), an Indonesian corporation, recently agreed to pay a criminal fine of more than $1.5 million and to strengthen its compliance program after violating the U.S. sanctions regime. Similarly-situated...more

King & Spalding

Q4 2020: Latin America Enforcement Review

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As 2020 drew to a close, enforcement authorities throughout the United States and the Americas continued to investigate fraud, corruption, and other misconduct across the region. Below, we highlight some developments from...more

ArentFox Schiff

Investigations Newsletter: Investment Bank To Pay Over $130 Million To Resolve Foreign Corrupt Practices Act and Fraud Allegations

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Deutsche Bank to Pay Over $130 Million to Resolve Foreign Corrupt Practices Act and Fraud Allegations - Deutsche Bank Aktiengesellschaft (Deutsche Bank) has agreed to pay more than $130 million to resolve the government’s...more

The Volkov Law Group

United Bank Risk Officer Agrees to $450k Penalty for AML Compliance Failures

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Compliance professionals face extraordinary risks – not just for the enterprise but personal risks.  CCOs should not panic or overreact when the government brings an enforcement action against a compliance officer for a...more

BakerHostetler

Judge Rebukes Government for Outsourcing Internal Investigation of LIBOR Rigging Scheme

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On May 2, 2019, Judge Colleen McMahon of the Southern District of New York ruled that the government effectively outsourced a portion of its ongoing investigation of LIBOR manipulation at one financial institution (the Bank)...more

Mayer Brown Free Writings + Perspectives

Senator Warren’s Proposed Corporate Executive Accountability Act

On April 3, 2019, Sen. Elizabeth Warren introduced a new bill entitled the Corporate Executive Accountability Act that would allow negligent executive officers to be prosecuted for a corporation’s wrongdoings. According to...more

White & Case LLP

Review of Anti-Money Laundering and Sanctions Policy and Enforcement

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TABLE OF CONTENTS: Executive Summary - Developments and Trends in Policy and Enforcement - US Department of the Treasury - The Office of Foreign Assets Control - Treasury's Financial Crimes Enforcement Network -...more

Jones Day

A New Direction in the United Kingdom's Fight Against Economic Crime?

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The Situation: High-profile money laundering incidents have caught the attention of lawmakers and enforcement authorities in the United Kingdom. The Result: A new director at the Serious Fraud Office ("SFO"), the formation...more

Thomas Fox - Compliance Evangelist

Two Intertwined FCPA Enforcement Actions: SocGen and Legg Mason

The Department of Justice (DOJ) announced two Foreign Corrupt Practices Act (FCPA) enforcement actions earlier this week and the intertwined nature of these two enforcement actions informs today’s blog post....more

The Volkov Law Group

AML Compliance Lessons Learned from US Bancorp and Rabobank Enforcement Actions

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Global banks have been the focus of enforcement actions, focusing on AML and sanctions violations.  With the new beneficial ownership regulations effective May 11, 2018, we are about to see a significant transformation in AML...more

Skadden, Arps, Slate, Meagher & Flom LLP

Government Enforcement Investigations – What You Need to Know in 2018

On October 4, 2017, Skadden presented the seminar “Government Enforcement Investigations – What You Need to Know in 2018.” Skadden partners Ryan Junck and Elizabeth Robertson, both based in London, moderated the panel...more

Thomas Fox - Compliance Evangelist

Farewell to George Romero, Zombies and District Court Supervision of DPAs

I take a break from my series on the new standard for revenue recognition to honor George Romero who passed away this weekend. If you have watched any monster/zombie picture over the past 50 years, you have witnessed the...more

The Volkov Law Group

A Money Laundering Nightmare: Western Union Ponies Up $770 Million to Settle with DOJ, FTC and FinCEN

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Earlier this year, in January 2017, Western Union entered into a Deferred Prosecution Agreement with the Justice Department and the FTC, and agreed to pay $586 in forfeiture to settle anti-money laundering and consumer fraud...more

Ballard Spahr LLP

The Western Union DPA and the Need to Investigate One’s Own

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The Western Union Company (“Western Union”) entered into a deferred prosecution agreement (“DPA”) on January 19th with the Department of Justice, based on alleged willful failures to maintain an effective AML program and the...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Cross-Border Investigations Update - December 2016"

This issue of Skadden’s semiannual Cross-Border Investigations Update looks at Brexit’s impact on corporate crime and investigations, the U.S. DOJ’s increased use of forfeiture actions with international implications, current...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.30.16

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NY hedge fund Och-Ziff has agreed to pay a $413 million fine as part of a deferred-prosecution agreement with US regulators over allegations that it was involved in the payment of more than $100 million in bribes to African...more

Thomas Fox - Compliance Evangelist

Enforcement Week I: Troubling Questions Raised in HSBC Prosecution

We had an interesting week of anti-corruption enforcement actions last week, both in the US and the UK. We have now had four Foreign Corrupt Practices Act (FCPA) enforcement actions since the announcement of the Depart Of...more

WilmerHale

The European, Middle Eastern and African Investigations Review 2016: United Kingdom: handling internal investigations

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With so much potentially at stake, the initial steps and strategic decisions taken in any company investigation are critical to setting the tone for a focused, credible and effective inquiry. This is paramount not only for...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 6.15.16

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A nasty May jobs report and fears about China’s markets have probably done in any plans the Fed had to raise rates in June [though maybe it shouldn’t wait much longer]. Here are the 5 things we should be watching when the...more

K&L Gates LLP

From Strength to Strength: Financial Sanctions

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On 7 March 2016, the new Police and Crime Bill (the “Bill”) received its second reading in Parliament. The stated aims of the Bill are to bring consistency to all penalties across the UK financial sanctions regimes, increase...more

Blank Rome LLP

Confirming That No Country Is “Off Limits,” DOJ Secures Guilty Pleas From 2 Cayman Islands Financial Institutions for Tax Evasion

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In its first-ever conviction of a non-Swiss financial institution for tax evasion conspiracy, the Justice Department announced today that two Cayman Islands firms pleaded guilty in a U.S. court to conspiring to hide more than...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 12.3.15

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Fed Chair Janet Yellen is doing all she can to soften the blow of (or at least sufficiently prep the markets for, bond traders be damned) the seemingly inevitable Fed interest rate liftoff at the Fed’s December meeting. ...more

Morrison & Foerster LLP

Top Ten International Anti-Corruption Developments for August 2015

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month, with links to primary...more

BakerHostetler

2014 Mid-Year Report Securities Litigation and Regulatory Enforcement

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Welcome to the 2014 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. Its purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more

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