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Financial Institutions Corruption

Mitratech Holdings, Inc

DOJ Unveils Whistleblower Rewards Program: What Every Business Needs to Know

The Department of Justice has launched the Corporate Whistleblower Awards Pilot Program to fight corporate crime. See how it impacts your organization. The U.S. The Department of Justice (DOJ) has just rolled out the...more

Holland & Hart LLP

Key Compliance Takeaways for Companies from the DOJ's New Corporate Whistleblower Program

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On August 1, 2024, the U.S. Department of Justice (“DOJ”) announced its new “Corporate Whistleblower Awards Pilot Program” (“DOJ Program”), a three-year initiative managed by DOJ’s Money Laundering and Asset Recovery Section....more

Mintz

DOJ Issues its Highly Anticipated Whistleblower Awards Pilot Program

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In March 2024, at the American Bar Association’s 39th National Institute on White Collar Crime, Deputy Attorney General (“DAG”) Lisa Monaco announced that the Department of Justice (“DOJ” or the “Department”) intended to...more

The Volkov Law Group

FinCEN Issues Proposed Rule to Strengthen and Modernize Financial Institutions’ AML/CFT Programs

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On June 28, 2024, the Financial Crimes Enforcement Network released a notice of proposed rulemaking. The purpose of the proposed rule is to strengthen and modernize Anti-Money Laundering and Countering the Financing of...more

Holland & Knight LLP

Justice Department Announces New Corporate Whistleblower Pilot Program

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After announcing at the ABA White Collar Crime Conference last winter that it would engage in a months-long "policy sprint," the U.S. Department of Justice (DOJ or Department) released its Corporate Whistleblower Awards Pilot...more

White & Case LLP

The Republic of Mozambique wins multibillion-dollar corruption case in the English High Court against Lebanese shipbuilding group,...

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Five years since the Republic of Mozambique issued its claim in the English High Court against Privinvest and other participants in one of the largest sovereign corruption scandals of modern memory – the so-called "Tuna Bond"...more

The Volkov Law Group

European Council Officially Adopts New AML/CFT Package

The Volkov Law Group on

On May 30, 2024, following passage by the European Parliament in late April, the European Council officially adopted a set of rules that modernizes and harmonizes money laundering and terrorist financing (“AML/CFT”)...more

Troutman Pepper

SDNY Ramps Up Pressure on Companies to Voluntarily Disclose Wrongdoing

Troutman Pepper on

On February 13, the U.S. Attorney’s Office (USAO) for the Southern District of New York (SDNY) announced a pilot program through which whistleblowers who voluntarily self-disclose criminal conduct relating to public or...more

Womble Bond Dickinson

Navigating the Labyrinth: Artificial Intelligence in the Battle Against Trade-Based Money Laundering

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In the rapidly evolving financial landscape, governments worldwide are intensifying their focus on compliance in Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts for financial institutions. Trade-Based Money...more

Mayer Brown

EU Institutions Reach Political Agreements On Anti-Money Laundering and Countering the Financing of Terrorism Package

Mayer Brown on

On January 17, 2024, the Council of the European Union (Council) and the European Parliament (Parliament) announced that a political agreement had been reached on (i) a new Regulation setting forth a single anti-money...more

Ballard Spahr LLP

The Basel AML Index: Forfeiture, Non-Profits, Crypto, and More. A Guest Blog.

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Today we are very pleased to welcome, once again, guest blogger Dr. Kateryna Boguslavska of the Basel Institute on Governance (“Basel Institute”), who will discuss the Basel Institute’s release of the 12th annual Public...more

Cadwalader, Wickersham & Taft LLP

Welcome to 2024: CWT’s European Fund Finance Market Insights January 2024 - Cayman Moves Closer to a List-Free Summer!

The Cayman Islands recently received an early Holiday gift when the EU Commission published a regulation in mid-December paving the way to remove Cayman from its list of ‘high-risk’ countries for AML/CFT purposes. The...more

American Conference Institute (ACI)

[Event] Fraud, Asset Tracing & Recovery - October 26th - 27th, Paris, France

Hosted by C5 Group, the inaugural Fraud, Asset Tracing & Recovery – Paris event will launch in Europe this fall and will feature networking formats and practitioners from across the EU and key offshore jurisdictions....more

Ballard Spahr LLP

Leveraging AML Measures to Combat Tax Crimes. A Guest Blog.

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As we have blogged repeatedly, there is a close nexus between money laundering and tax crimes. The frequent connection between the two sets of offenses – and the potentially related methods of combatting them – is a topic...more

Guidepost Solutions LLC

[Webinar] The World Bank Group and Other Multilateral Development Bank Investigations in the Post Covid Pandemic Era - June 7th,...

As the Covid pandemic appears to be subsiding worldwide, the World Bank Group and its affiliated multilateral development banks may be ramping up their investigations of sanctionable practices including corruption, fraud, and...more

American Conference Institute (ACI)

[Event] 13th West Coast Forum on FCPA Enforcement and Compliance - June 14th - 15th, San Francisco, CA

Hosted by American Conference Institute, the 13th West Coast Forum on FCPA Enforcement and Compliance returns for another exciting year, providing the opportunity to connect with decision-makers from your industry, gather...more

Wilson Sonsini Goodrich & Rosati

Supreme Court Uses New York Corruption Cases to Teach Fraud Lessons

The federal wire fraud statute has always been a favorite of federal prosecutors. The statute prohibits individuals and companies from using deceit or false statements to defraud others out of their money or property. Through...more

American Conference Institute (ACI)

[Event] 12th Summit on Anti-Corruption Brazil - May 24th - 25th, Sao Paulo, SP, Brazil

Hosted by American Conference Institute, the 12th Summit on Anti-Corruption Brazil returns for another exciting year with a newly revamped, truly interactive networking and benchmarking experience. In addition to critical...more

White & Case LLP

The Wolfsberg Group's Updated Anti-Corruption Guidance – The New Global Threshold?

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On April 17, 2023, the Wolfsberg Group (the "Group") issued updated guidelines for financial institutions ("FI") relating to Anti-Bribery and Corruption ("ABC") Compliance Programs. Although the guidance is not binding, it...more

Orrick, Herrington & Sutcliffe LLP

FinCEN offers suspicious activity reporting guidance for human smuggling along U.S.- Mexico border

On January 13, the Financial Crimes Enforcement Network (FinCEN) issued an alert advising financial institutions on how to detect and report suspicious financial activity that may be related to human smuggling along the...more

Guidepost Solutions LLC

Focus on Foreign Banks’ Sanctions Compliance Programs in the U.S. and Globally - Upgrading and Empowering Compliance to Help...

As the Russia – Ukraine war rages on, one outcome so far is clear: the Western nations remain aligned and united to confront Russian aggression. The West’s synchronized, roll-out of economic and trade sanctions against...more

Hogan Lovells

World Bank investigations spike and highlight integrity risks in private sector development finance

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Ignoring integrity risks in emerging markets when receiving financing from the World Bank Group (WBG) is about to become much riskier, as the WBG Sanctions System Annual Report for Fiscal Year 2022 (FY22) indicates. The...more

Ankura

Factors to Be Considered by Financial Organizations for an Effective Transactional Monitoring System

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The rising incidence of financial crime continues to haunt financial institutions globally. As per a recent industry report, more SARs (suspicious activity reports) were filed by ~80% of the firms in 2021. COVID-19 pandemic...more

Ankura

Responding to the Increased Global Risk of Financial Crimes

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Ankura's Nova O sits down with Mark McGrath, Ayana Murphy, and Elif Cinar to discuss the current anti-money laundering (AML) landscape in the latest Q&A with our Ankura experts. Learn more about responding to the increased...more

StoneTurn

3 Key Takeaways from FATF’s Recent Mutual Evaluations Report

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The Financial Action Task Force (“FATF”) recently released its Report on the State of Effectiveness and Compliance with the FATF Standards (“Report”). The Report contains the results of its 4th Round of Mutual Evaluations...more

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