News & Analysis as of

Sanctions Money Laundering

Damming the Funding to North Korea: Anticipatory Seizure Warrants as a Tool to Enforce Sanctions and Thwart Money Laundering...

by Ballard Spahr LLP on

Two days after North Korea’s successful long-range ballistic missile test, the U.S. District Court for the District of Columbia unsealed a memorandum opinion which granted the Department of Justice “damming” warrants to seize...more

Lessons in Civil Forfeiture and Attachment: U.S. May Seize 650 Fifth Avenue

by Ballard Spahr LLP on

On June 29, dual trial verdicts in the Southern District of New York paved the way for the government to seize 650 Fifth Avenue, a 36-story building in Manhattan valued at up to $1 billion (“the Property”). The defendants,...more

Western Union to Pay $586 Million in Restitution and Civil Penalties for AML Compliance Failure - Alabama Bankers Association...

On Jan. 19, Western Union Financial Services, Inc. agreed to pay civil penalties and restitution to victims of fraud totaling $586 million to resolve actions brought by the U.S. Treasury Department’s Financial Crimes...more

FCA sanctions bank and its MLRO for anti-money laundering systems failings

by Allen & Overy LLP on

In this decision report we review the FCA’s action against Sonali Bank (UK) Ltd (Sonali Bank) and its money laundering reporting officer (MLRO), Steven Smith, in connection with failings identified in relation to Sonali...more

De-Risking 101

by Foodman CPAs & Advisors on

Bank Secrecy Act of 1970 - Requires U.S. financial institutions to assist U.S. government agencies to detect and prevent money laundering by keeping records of cash purchases of negotiable instruments, and file reports...more

Key Takeaways: Government Enforcement Investigations – Trends and Perspectives from the UK, US and China

On September 20, 2016, Skadden presented a seminar titled “Government Enforcement Investigations – Trends and Perspectives from the UK, US and China” in London. The UK Financial Conduct Authority (FCA) Director of Enforcement...more

Spoofing, Sports and the Panama Papers: BakerHostetler Offers Mid-Year Review of Cross-Border Government Investigations and...

by BakerHostetler on

Halfway through 2016, the international community has seen a staggering variety of cross-border investigations and enforcement actions. Brexit, the release of the Panama Papers, allegations of widespread sports doping and the...more

Corporate Investigations & White Collar Defense - February 2016

Eye on the Courts—Recent Opinions and Rulings of Note - Why it matters: From a white collar and securities fraud standpoint, there has been a lot of noteworthy activity in the courts of late. The Supreme Court granted...more

Wolfsberg Group publishes risk assessment FAQ

by Dentons on

The Wolfsberg Group has published a set of FAQ on risk assessments for money laundering, sanctions and bribery and corruption. The questions look at issues like: - what is the purpose of a risk assessment? - how...more

The 5 Most Common AML Compliance Program Deficiencies

by Michael Volkov on

Anti-money laundering compliance is a very difficult task. The number of risks is exponential. AML compliance officers have an innovative and rich history of compliance techniques and strategies. In the end, AML compliance...more

AML Bulletin - Spring 2015

by DLA Piper on

In This Issue: * UK News & Enforcement Action: - HMRC releases AML and CTF supervision report 2013 – 2014 - HM Treasury High Risk Money Laundering List Updated - FCA Thematic Review Into AML And Sanctions...more

Banks Take It On The Chin

by Michael Volkov on

The end of the year was very tough for global banks. For months significant enforcement actions were expected in the ongoing LIBOR manipulation probe and anti-money laundering and sanctions violations probes....more

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Cybersecurity

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