News & Analysis as of September 20, 2024

FinCEN › False Claims Act (FCA)

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

DOJ Triples Down on Incentivizing Disclosures with Launch of Three-Year Corporate Whistleblower Awards Pilot Program

Proskauer Rose LLP on 9/9/2024

Corporate Whistleblower Awards Pilot Program (“Pilot Program”), aimed at incentivizing whistleblowers to report potential criminal conduct. The announcement was anticipated, having been previewed in March 2024 by Deputy...more

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

Mitratech Holdings, Inc on 9/4/2024

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

It’s On: The DOJ Releases Details About Its New Whistleblower Program

Woodruff Sawyer on 8/29/2024

Government agencies have been launching and testing whistleblower programs for some time and have been delighted by their results. Tippers have benefited, too—with some amassing multimillion-dollar awards. Not to be left...more

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

Holland & Hart LLP on 8/21/2024

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

DOJ Announces Corporate Whistleblower Awards Pilot Program

Jones Day on 8/20/2024

The Development: On August 1, 2024, the Department of Justice's ("DOJ") Criminal Division announced its Corporate Whistleblower Awards Pilot Program ("Pilot Program"), designed to reward whistleblowers who report information...more

Investigations Newsletter: DOJ Launches Corporate Whistleblower Awards Pilot Program

ArentFox Schiff on 8/12/2024

DOJ Launches Corporate Whistleblower Awards Pilot Program - On August 1, the US Department of Justice (DOJ) announced the details of its new Corporate Whistleblower Awards Pilot Program. According to the DOJ, the...more

Off to the Races: DOJ Offers New Incentives for Whistleblowers and Companies to Report Misconduct

Paul Hastings LLP on 8/9/2024

Earlier this year, as described in a previous client alert, the Department of Justice (“DOJ”) Criminal Division announced a landmark pilot program to pay monetary awards to whistleblowers (the “Program”). At that time, Deputy...more

Corporate Whistleblower Awards Pilot Program

Morrison & Foerster LLP on 8/7/2024

On August 1, 2024, Deputy Attorney General Lisa Monaco announced the launch of DOJ’s Corporate Whistleblower Awards Pilot Program (Pilot Program). The Pilot Program, previewed by Monaco in March 2024, provides another avenue...more

Department of Justice Announces Groundbreaking Whistleblower Program in its Ongoing Effort to Incentivize Voluntary Self...

Snell & Wilmer on 5/10/2024

Department of Justice (DOJ) Deputy Attorney General Lisa Monaco announced that the DOJ is adopting a whistleblower incentive program today at the American Bar Association’s 39th National Institute on White Collar Crime. In...more

Investigations Newsletter: Deputy Attorney General Monaco Warns Industries: “Fraud Using AI is Still Fraud”

ArentFox Schiff on 3/15/2024

On March 7, Deputy Attorney General Lisa Monaco delivered the keynote remarks at the American Bar Association’s (ABA) 39th National Institute on White Collar Crime. She noted that artificial intelligence (AI) “holds great...more

Announcement of new DOJ Whistleblower Policy

A&O Shearman on 3/13/2024

On March 7, 2024, Deputy Attorney General Lisa Monaco announced a new 90-day pilot program at the Department of Justice (DOJ) to incentivize whistleblowers. The program is inspired by and generally follows similar programs...more

US Department of Justice Announces Sprint Towards New Whistleblower Reward Program

Mayer Brown on 3/12/2024

On March 7, 2024, the Deputy Attorney General of the US Department of Justice (“DOJ” or “Department”) announced a pilot program to encourage whistleblowers to report evidence of high-priority white collar crimes with the...more

2023 Year-In-Review: Key Enforcement Initiatives and Cases in Crypto, Cyber, SPACs, Whistleblowers, and the Future of...

Troutman Pepper on 2/29/2024

It was a busy year for enforcement activity in the cyber, crypto, SPAC, and whistleblower spaces, with several pending actions that will likely have wide-ranging implications in 2024. We are also awaiting a ruling from the...more

Weekly Update for Government Contractors and Commercial Businesses – February 2024 #5

PilieroMazza PLLC on 2/29/2024

Federal Acquisition Regulation (FAR) Council - Final Rule: FAR, Trade Agreements Thresholds: On February 23, the Department of Defense, General Services Administration, and National Aeronautics and Space Administration...more

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - December 2023

Lowenstein Sandler LLP on 12/11/2023

TRADE TIP OF THE MONTH: New Companies Have More Time To Report Ownership- The Treasury Department’s Financial Crimes Enforcement Network issued a final rule in late November to delay the deadline for newly created...more

Investigations Newsletter: Binance to Pay Historic $4 Billion Fine

ArentFox Schiff on 12/4/2023

Binance to Pay Historic $4 Billion Fine - Binance Holdings Limited, the operator of the world’s largest cryptocurrency exchange, agreed to pay $4.3 billion to resolve allegations that it violated the Bank Secrecy Act (BSA)...more

BIS to Industry: Please Disclose “Big Deal” Violations and Whistle Blow on Others for Credit

Torres Trade Law, PLLC on 4/19/2023

In a memorandum published by the Bureau of Industry and Security on April 18, 2023, the Office of Export Enforcement (OEE) announced that it wants to incentivize voluntary self-disclosures (VSDs) after a party uncovers...more

Trade Matters - November 2021

Lowenstein Sandler LLP on 11/3/2021

1. New Cybersecurity Export Controls From BIS Go Into Effect in January - The Bureau of Industry and Security (BIS) has released an interim final rule establishing new export controls on certain cybersecurity items and...more

FinCEN’s New Whistleblower Program: Global Implications

King & Spalding on 5/21/2021

Modernizing FinCEN’s Whistleblower Program Under the Anti-Money Laundering Act of 2020 - INTRODUCTION - Reporting on multiple international money-laundering schemes last year brought public focus to the anti-money...more

Financial Services Report - Spring 2021

Morrison & Foerster LLP on 3/2/2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Treasury’s New Bank Secrecy Act Whistleblower Program

Buchalter on 1/26/2021

In perhaps the last major legislative action under this presidential administration, on New Year’s Day 2021, Congress passed—over President Trump’s veto—what could be the most significant anti-money laundering (AML) statute...more

2020 Year-End Crypto Assets Legal and Regulatory Developments: It Wasn’t Just Bitcoin Breaking $29,000 (It’s Even Higher Now)!

Katten Muchin Rosenman LLP on 1/22/2021

SEC – Statement regarding Special Purpose Broker-Dealers Eligible to Custody Digital Asset Securities (Statement) - - On December 23, 2020, the Securities and Exchange Commission (SEC) said that, for a five-year period, it...more

PPP Lenders and Fraudulent Borrowers: False Claims Act Liability and AML Risk

Ballard Spahr LLP on 9/3/2020

Can BSA/AML Requirements Lead to Deemed Knowledge of Borrower Fraud? The first two weeks of August brought a milestone of sorts in the ongoing recovery from the economic downturn brought on by the COVID-19 pandemic. The...more

Corporate & Financial Weekly Digest, Featuring Articles SEC Approvals of Changes to "Accredited Investor" and "Qualified...

Katten Muchin Rosenman LLP on 9/1/2020

SEC/CORPORATE - SEC Amends the Definitions of “Accredited Investor” and “Qualified Institutional Buyer” - On August 26, the Securities and Exchange Commission adopted amendments to the definitions of “accredited...more

Red Notice Newsletter - Russian

Akin Gump Strauss Hauer & Feld LLP on 3/13/2018

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

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FinCEN › False Claims Act (FCA)

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