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
We regularly blog about the conflict between state and federal law related to cannabis and the uncertainty regarding how federal criminal and Bank Secrecy Act (“BSA”) law will, or will not, be enforced against financial...more
8/22/2019
/ Bank Secrecy Act ,
BSA/AML ,
Decriminalization of Marijuana ,
Dispensaries ,
Financial Institutions ,
Financial Services Industry ,
Legislative Agendas ,
Marijuana ,
Marijuana Related Businesses ,
NCUA ,
Proposed Legislation ,
Suspicious Activity Reports (SARs)
Second Post in a Two-Post Series on the ILLICIT CASH Act -
A discussion draft of legislation recently introduced in the Senate, the Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal...more
6/28/2019
/ AML/CFT ,
Anti-Money Laundering ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Legislative Agendas ,
Money Laundering ,
No-Action Letters ,
Proposed Legislation ,
Safe Harbors ,
Suspicious Activity Reports (SARs) ,
Terrorism Funding ,
Terrorist Financing Regulations
According to the Financial Flow from Human Trafficking report recently published by the Financial Action Task Force (“FATF”) and the Asia/Pacific Group on Money Laundering, human trafficking is estimated to generate $150.2...more