Recently, an American bank entered into a deferred prosecution agreement requiring it to pay over US$610 million in penalties. The plea agreement was based on “impos[ing] hard caps on the number of transactions subject to AML...more
One of the factors that the U.S. Department of Justice (DOJ) considers in deciding whether to bring charges against a corporation is the existence and effectiveness of the corporation’s pre-existing compliance program. On...more
11/5/2015
/ Anti-Bribery ,
Anti-Corruption ,
Banking Sector ,
Banks ,
Bribery ,
Compliance ,
Corporate Counsel ,
Corporate Fraud ,
Corruption ,
Department of Justice (DOJ) ,
Financial Institutions ,
Government Investigations ,
White Collar Crimes
This alert addresses the explosion in popularity of daily fantasy sports (“DFS”) sites and the money-laundering potential that DFS sites may offer to criminals around the world. It then explains potential legal liability...more
11/2/2015
/ Advertising ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Compliance ,
Department of Justice (DOJ) ,
Fantasy Sports ,
Financial Institutions ,
FinCEN ,
Football ,
Gambling ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
Online Gaming ,
Online Platforms ,
SAR ,
Sports ,
Sports Gambling ,
Suspicious Activity Reports (SARs) ,
Unlawful Internet Gambling Enforcement Act (UIGEA) ,
Venture Capital