News & Analysis as of

Cross-Border Fines

Kramer Levin Naftalis & Frankel LLP

Increased Fines for Violations of Russian Localization Law

On June 13, 2019, a draft bill increasing fines for violations of Federal Law No. 242-FZ (Data Localization Law) was submitted to the State Duma (i.e., the lower house of the Federal Assembly). ...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Latest Swiss Cross-Border Tax Investigation Reflects Wider US Enforcement Agenda"

Authorities in the U.S. continue to crack down on foreign financial institutions that have allegedly aided U.S. taxpayers in evading their tax obligations. On May 19, 2014, Credit Suisse AG pled guilty to conspiracy to aid...more

Pillsbury Winthrop Shaw Pittman LLP

Stricter Anti-Money Laundering Controls on Tap for EU Banks and Financial Companies

Financial businesses operating in the European Union will need to consider implementing stricter anti-money-laundering and anti-terrorism-financing controls or face a potential fine of up to 10 percent of their annual...more

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