On April 30, 2025, the National Security Division (NSD) of the Department of Justice (DOJ) announced the declination of prosecution against the Universities Space Research Association (USRA), a federal government contractor,...more
On April 11, 2025, the National Security Division (NSD) of the Department of Justice issued a press release (Press Release) that outlines its approach to implementing and enforcing the DOJ’s recent final rule on “Preventing...more
As the Trump administration forges ahead with its trade agenda, including almost weekly new tariffs, and antidumping and countervailing duties orders, heightened False Claims Act (FCA) enforcement is sure to follow. Below, we...more
On February 18, 2025, Denise Cheung, leader of the criminal division at the U.S. Attorney’s Office for the District of Columbia, abruptly resigned. Prior to her resignation, Cheung had been at the Department of Justice (DOJ)...more
Over the past few days, the Department of Justice (DOJ) has issued several significant policy memos that reshape the landscape for corporate legal risk, particularly for multinational corporations engaged in international...more
A recent consent order between the New York State Department of Financial Services (“NYDFS”) and cryptocurrency trading platform, bitFlyer USA (“bitFlyer”), shows that the NYDFS continues to utilize an aggressive enforcement...more
6/21/2023
/ Civil Monetary Penalty ,
Consent Order ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Enforcement Actions ,
Financial Services Industry ,
Information Technology ,
New York ,
NYDFS ,
Regulatory Requirements ,
Regulatory Violations ,
Technology
On June 23, 2022, the New York State Department of Financial Services (NYDFS) announced the entry of a Consent Order in connection with its most recent cybersecurity enforcement action, which included a $5 million monetary...more
Cryptocurrency has increasingly become an accepted form of financial exchange. However, it has also become a favored form of payment for cyber criminals. In an effort to deter the use of cryptocurrencies in furtherance of...more
We have written here previously about the dramatic increase in cyberattacks on companies of all types since the start of the COVID-19 pandemic. Indeed, by some estimates, ransomware attacks have increased over 90% during the...more
Earlier this month, the New York State Department of Financial Services (NYDFS) announced a settlement and consent order with National Securities Corporation (National Securities) for $3 million in connection with National...more
4/27/2021
/ Compliance ,
Cybersecurity ,
Data Breach ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
National Security ,
National Security Review Proceedings ,
New York ,
NYDFS ,
Popular ,
Settlement
On March 3, 2021, the New York State Department of Financial Services (NYDFS) announced a settlement with Residential Mortgage Services, Inc. (RMS) for $1.5 million in connection with its violation of the NYDFS Cybersecurity...more
3/8/2021
/ Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Enforcement Actions ,
Financial Services Industry ,
Government Agencies ,
Notification Requirements ,
Personal Data ,
Phishing Scams ,
Popular ,
Risk Assessment ,
Settlement ,
State and Local Government
With President Biden’s nomination of D.C. Circuit Judge Merrick Garland for U.S. attorney general proceeding toward confirmation in the Senate, the leader of the nation’s legal department is poised to change enforcement...more
Earlier this year, the U.S. Department of Justice (“DOJ”) released its highly anticipated Cryptocurrency Enforcement Framework (the “Framework”). The Framework was developed as part of the Attorney General’s Cyber-Digital...more
12/29/2020
/ Biden Administration ,
Bitcoin ,
BSA/AML ,
Commodity Futures Contracts ,
Criminal Investigations ,
Cross-Border Transactions ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Popular ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
U.S. Treasury
On December 1, 2020, the U.S. Commodity Futures Trading Commission (“CFTC”) Division of Enforcement released its Annual Report, which details a “record-breaking” fiscal year 2020 (“FY 2020”), despite the challenges presented...more
On September 17, 2020, the SEC announced the imposition of a cease-and-desist order against private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson), an SEC-registered investment manager, in connection with alleged...more