Financial Crimes Financial Institutions

News & Analysis as of

ISSA publishes background to compliance principles

ISSA has published a background and overview document to introduce financial institutions to its Financial Crime Compliance Principles (see FReD 18 September). ...more

ISSA adopts securities custody and settlement financial crime principles

ISSA has adopted a set of financial crime compliance principles which aim to support the efforts of the global community of securities custodians and intermediaries to address the critical challenges posed by financial crime....more

Corporate Wrongdoing: More Civil and Criminal Liability for Individuals?

The US Department of Justice has issued a memorandum to all of its prosecuting Divisions, directing changes to the principles applied by DOJ in prosecuting civilly or criminally individuals who engage in corporate misconduct....more

Treasury Request for Public Input on Expanding Access to Credit through Online Marketplace Lending

On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more

DOJ Deputy Assistant AG Delivers Testimony at Senate Subcommittee Hearing Regarding Cyber Crime

On July 8, the DOJ’s Deputy Assistant AG, David Bitkower, delivered his testimony before the Senate Judiciary Subcommittee on Crime and Terrorism’s hearing entitled, “Cyber Crime: Modernizing Our Legal Framework for the...more

Bank Liability to Non-Customers in a Ponzi Scheme

The morning news reports flashes a report that your customer was actually a Ponzi scheme and defrauded numerous people. Of course, this is terrible news for the innocent victims, but, you ask yourself, could my bank be...more

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