News & Analysis as of

Financial Crimes

Ballard Spahr LLP

FinCEN’s Southwest Border Geographic Targeting Order Faces Challenges in Texas and Southern California

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In March, we wrote about the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issuing a Geographic Targeting Order (GTO) aimed to combat Mexican-based drug cartels. The GTO signals Treasury’s efforts to...more

Jones Day

New European Anti-Money Laundering Authority Will Have Broad Normative Powers

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The European Union ("EU") Anti-Money Laundering ("AML") package adopted by the European Parliament and the Council on May 31, 2024, represents a major shift in the fight against money laundering and terrorist financing at the...more

Morrison & Foerster LLP

CFTC Advisory Outlines Materiality Criteria for Enforcement Referrals

On April 17, 2025, three operating divisions (the “Operating Divisions”) of the U.S. Commodity Futures Trading Commission (“CFTC”) and the Division of Enforcement (“DOE”) provided guidance in CFTC Letter 25-13 (the...more

Orrick, Herrington & Sutcliffe LLP

DOJ shifts focus on digital asset enforcement

Recently, the Deputy Attorney General for the DOJ released a memo that outlined a new policy direction for the DOJ regarding the enforcement of laws related to digital assets. The memo emphasized ending the previous...more

Thomas Fox - Compliance Evangelist

Daily Compliance News: April 28, 2025, The Santos Sobs Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy morning coffee, and listen to the Daily Compliance News. All, from the...more

Ankura

Beyond Internal Controls: The Importance of Culture in “Failure to Prevent Fraud” Preparation

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The Failure to Prevent Fraud (FTPF) offence will officially come into force as part of the Economic Crime and Corporate Transparency Act in September 2025. In a previous article, we explored the government’s guidance around...more

WilmerHale

FCA's Regulatory Plans Signal Cause For Cautious Optimism

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Supporting growth, fighting crime, helping consumers and being a smarter regulator: These are the four predictable priorities identified in the Financial Conduct Authority's 2025-2030 strategy document, released on March 25. ...more

McDermott Will & Emery

The UK Economic Crime & Corporate Transparency Act 2023: What companies need to know and what they can do to prepare

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The UK Economic Crime & Corporate Transparency Act 2023 sets out two major reforms making it much easier for UK authorities to prosecute corporate wrongdoing: - it substantially increases the circumstances in which a company...more

Clark Hill PLC

Clark Hill 2025 Commercial Real Estate Outlook: The Number One Cybersecurity Threat Facing the Real Estate Sector

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When we talk to clients about cybersecurity, it tends to conjure up images of ransomware, systems that are encrypted and inaccessible, and stolen data. For the real estate sector, ransomware isn’t the largest cybersecurity...more

Ropes & Gray LLP

[Podcast] Getting Your Head Around the UK’s New (and Globally Relevant) “Failure to Prevent Fraud” Offence

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On this Ropes & Gray podcast, join Amanda Raad, co-head of the firm’s global anti-corruption and international risk and crisis management & investigations practices, Nitish Upadhyaya, director of behavioral insights at the...more

K&L Gates LLP

What Legal Services Providers Need to Learn From OFSI's Legal Services Threat Assessment

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In its first-ever threat assessment of the UK legal sector, the UK’s Office of Financial Sanctions Implementation (OFSI) has raised red flags with regards to suspected sanctions breaches involving UK legal services providers...more

Sheppard Mullin Richter & Hampton LLP

New York AG Sues Earned Wage Access Companies for Allegedly Unlawful Lending Practices

On April 14, New York Attorney General Letitia James announced two separate lawsuits against earned wage access providers—one against a company that issues advances directly to consumers, and another targeting a provider that...more

Hogan Lovells

UK: “Duty of retrieval” rejected: why banks do not owe a duty to recover funds lost through APP fraud

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Banking fraud of all types is an ever increasing problem in today’s society, and takes a multitude of forms. On a basic level, frauds can be divided into two types. Unauthorised fraud, where the victim does not provide...more

Wiley Rein LLP

[Podcast] Oil, Opulence, and One Crystal-Encrusted Michael Jackson Glove

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Join hosts Tatiana Sainati and Diana Shaw as they delve into the harrowing history of corruption and violence in the Republic of Equatorial Guinea. Discover how a single political family managed to siphon off the nation's...more

Troutman Pepper Locke

The FTC Shines Its Spotlight on the Top Text Scams of 2024

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As technology advances, so do the tactics of scammers. The Federal Trade Commission (FTC) recently released a data spotlight on the top text scams of 2024, revealing a significant increase in financial losses despite a...more

Ankura

Fraud and Corruption in Covid Bounce Back Loans - A Perspective for Lenders

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Under the government Bounce Back Loan Scheme (BBLS), small businesses struggling due to the pandemic could obtain a fully government-secured loan of up to £50,000 with no repayments required for the first 12 months....more

Harris Beach Murtha PLLC

SEC Enforcement Action in SDNY Highlights Risks for AI Companies

On April 9, 2025, the Securities and Exchange Commission (SEC) filed a complaint in the U.S. District Court for the Southern District of New York against Alberto Saniger Mantinan, the founder and CEO of Nate, Inc. The SEC...more

Wiley Rein LLP

[Podcast] From DOJ to Private Practice with Albert "BJ" Stieglitz

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Join host Kevin Muhlendorf for an insightful conversation with Albert "BJ" Stieglitz, a former federal prosecutor with unique cross-border expertise. In this episode, BJ shares his experiences from his time at the UK Serious...more

Greenberg Glusker LLP

Out with a Whimper: FinCEN Issues Interim Final Rule on Corporate Transparency Act, Narrows BOI Reporting Requirements

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On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an interim final rule, which was officially published in the Federal Register on March 26, 2025, removing the requirement for U.S. companies and...more

Thomas Fox - Compliance Evangelist

Compliance into the Weeds: The Uncertain Future of Compliance Monitors under the Trump Administration

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Are you looking for some...more

Ballard Spahr LLP

A New Era for Digital Assets: The Impact of DOJ’s Shift Away from Regulation by Prosecution and Its Implications

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In a significant policy shift, Deputy Attorney General Todd Blanche issued a memorandum titled “Ending Regulation By Prosecution,” on April 7, 2025, signaling a change in the Department of Justice’s (DOJ) approach to digital...more

K2 Integrity

[Webinar] FCPA & FEPA versus the Middle East – What can we expect in the coming year? - April 30th, 9:00 am ET

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Join our panel of experts for a one-hour session where they will discuss the impact of the halt on FCPA and FEPA enforcement by the Trump administration and what it means for the Middle East in terms of investigations and...more

Mayer Brown

IRS-CI Announces a New Initiative to Enhance BSA Information-Sharing with Financial Institutions

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On March 28, 2025, the Internal Revenue Service (“IRS”)’s criminal investigative arm, IRS Criminal Investigation (“IRS-CI”), announced that it would be implementing a new program called CI-FIRST (Feedback in Response to...more

Estlund Law, P.A.

INDIA: Extradition And Deportation Due To Red Notice Status

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Today’s post will address extradition and deportation due to Red Notice status, using as examples the case of two fugitives from India who were INTERPOL Red Notice subjects and were arrested in India following their return...more

Hogan Lovells

What is the new EU AML regime?

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The Single Rulebook is intended to be a single source of AML/CTF regulation that will be applied uniformly in all member states across the EU. This will be achieved primarily through the new AML Regulation, which will be...more

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