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The UK government is moving towards introducing a new corporate criminal offence: Failure to Prevent Fraud and Money Laundering. The draft offence, contained in the Economic Crime and Corporate Transparency Bill, would hold...more
Every year, BakerHostetler collects and analyzes various metrics about the incident response matters we handle. In 2022, we handled over 1,160 incidents. The most striking trends we saw across those incidents were an overall...more
Scammers are taking advantage of the active real estate market. Recently, I was contacted by a client who received a call from a lawyer in another state to verify a signature on a deed for the client’s lot being sold;...more
The COVID-19 crisis has triggered a resurgence of fraudulent international wire transfers. Companies and banks should therefore be extra vigilant when dealing with international wire transfer orders....more
According to the Bank Secrecy Act (BSA), the Financial Crimes Enforcement Network (FinCEN) states that the main focus for Financial Institution ought to be on the reporting of suspicious activities....more
When you read and learn about cryptocurrencies (e.g. Bitcoin, Ripple, Ethereum), there are some commentators, politicians and others who characterize cryptocurrencies as a “Ponzi” scheme....more
In an effort to combat an increasing number of fraudulent transfers carried out using its network, SWIFT, the international bank transfer network, announced this month that it is adding new tools and controls designed to...more