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Anti-Money Laundering (AML) Whistleblower Provision Expanded to Cover Economic Sanctions Violations, Increase Incentives for Reporting

USA - February 1 2023 On Dec. 29, 2022, the Anti-Money Laundering Whistleblower Improvement Act (the “Whistleblower Improvement Act” or “Act”), enacted as part of the…

Sonali Dohale, Kyle R. Freeny, Nathan J. Muyskens, Marina Olman-Pal

EU Criminalizes Violations of EU Sanctions, With a Focus on Russia

European Union, Russia - December 1 2022 On Nov. 28, 2022, the Council of the European Union (Council) adopted a decision (Decision) to add the violation of restrictive measures to the list…

Erik de Bie, Robert Hardy

UK and U.S. Announce ‘Enhanced Partnership’ on Economic Sanctions Implementation, Enforcement

United Kingdom, USA - October 19 2022 The United Kingdom and United States announced in a joint statement on 17 October a new strategy to cooperate and collaborate further on economic…

Tina Kang, Gavin Costelloe, Bethany Histed, Annabel Thomas

Crypto Exchange Bittrex Settles $53 Million in Fines with Treasury Department for Sanctions, Anti-Money-Laundering Violations

USA - October 11 2022 On Oct. 11, 2022, the U.S. Treasury Department announced that cryptocurrency exchange Bittrex Inc. had agreed to settle $53 million total in fines…

Kyle R. Freeny, Marina Olman-Pal, Madeline Orlando

New Executive Order Identifies National Security Risks for CFIUS to Consider When Assessing Foreign Investment in US Businesses

USA - September 15 2022 On Sept. 15, 2022, President Biden issued an Executive Order (EO) providing formal direction to the Committee on Foreign Investment in the United…

Cyril T. Brennan, Sonali Dohale, Francisco J. Vélez