On February 25, 2020, the Tenth Circuit Court of Appeals upheld the dismissal of shareholders’ securities-fraud class action against the Western Union Company (“Western Union”) and several of its current and former executive...more
3/2/2020
/ Aiding and Abetting ,
Anti-Fraud Provisions ,
BSA/AML ,
Class Action ,
Danske Bank ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Derivative Suit ,
Enforcement Actions ,
Failure to Comply ,
Federal Trade Commission (FTC) ,
Financial Transactions ,
FinCEN ,
Foreign Financial Institutions (FFI) ,
Misleading Statements ,
Pleading Standards ,
Popular ,
PSLRA ,
Public Statements ,
Regulatory Violations ,
Scienter ,
Securities Fraud ,
Shareholder Litigation ,
Stock Prices ,
Suspicious Activity Reports (SARs) ,
Western Union ,
Wire Fraud
Bank Accused of Being Asleep at the AML-CTF Switch -
On November 20, 2019, AUSTRAC, Australia’s anti money-laundering (“AML”) and counter-terrorism financing (“CTF”) regulator, initiated an action in the Federal Court of...more
12/2/2019
/ AML/CFT ,
Anti-Money Laundering ,
AUSTRAC ,
Australia ,
Child Abuse ,
Corruption ,
Counter-Terrorist ,
Cross-Border Transactions ,
Enforcement Actions ,
Exploitation ,
Financial Transactions ,
Foreign Financial Institutions (FFI) ,
Payment Processors ,
Regulatory Violations ,
Retail Banks ,
Risk Mitigation ,
Service Agreements ,
Statutory Violations ,
Terrorist Financing Regulations
NYDFS Action Highlights the Need for Good Monitoring – and Good Consultants -
In part one of this two-part post, we provided some practical tips for financial institutions to increase the chances that their Anti-Money...more
11/8/2018
/ Anti-Money Laundering ,
BSA/AML ,
Enforcement Actions ,
Failure to Comply ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
Foreign Financial Institutions (FFI) ,
Money Laundering ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Violations