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The Anticorruption Blog Blog

Articles: 1-10 of 175

FinCEN and Federal Reserve Seek Comments on Proposed Amendments to the Recordkeeping and Travel Rules

USA - November 10 2020 On October 23, 2020, the Board of Governors of the Federal Reserve System (the ‘‘Board’’) and the U.S. Department of the Treasury’s Financial Crimes…

FinCEN Imposes First of its Kind Civil Penalty against Cryptocurrency Money Service Business

USA - November 6 2020 On October 19, 2020, the Financial Crimes Enforcement Network (FinCEN) released its assessment of a $60 million civil monetary penalty against the…

DOJ Prioritizes Health Care Fraud in the Pandemic

USA - October 13 2020 The Department of Justice (“DOJ”) recently announced its largest ever health care fraud and opioid enforcement action. In a coordinated effort, DOJ…

Cryptocurrency Exchange and its Executives Face Allegations of Failing to Maintain an Adequate AML Program

USA - October 7 2020 Two U.S. authorities recently announced actions against four individuals and numerous entities associated with BitMEX, an online trading platform for…

Ransomware Payments can lead to Sanctions and Reporting Obligations for Financial Institutions

USA - October 6 2020 With cybercrime on the rise, two U.S. Treasury Department components, the Office of Foreign Assets Control (“OFAC”) and the Financial Crimes…

FinCEN Director Blanco Encourages Increased Communication During Global Pandemic

Global, USA - October 1 2020 In remarks to the Association of Certified Anti-Money Laundering Specialists (“ACAMS”), Kenneth A. Blanco, the Director of the U.S. Treasury’s…

SEC Approves Changes to Its Whistleblower Program

USA - September 24 2020 This week, in a 3-2 vote, the U.S. Securities and Exchange Commission (“SEC” or the “Commission”) approved significant changes to the rules governing…

The White House Directs Federal Agencies to Focus on Fairness in Investigations and Enforcement

USA - September 20 2020 On May 19, 2020, in response to the COVID-19 pandemic, President Trump signed Executive Order 13924, to provide regulatory relief for entities…

FinCEN’s New Rule Impacts Banks Lacking a Federal Functional Regulator

USA - September 15 2020 On September 14, 2020, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a final rule (“Rule”) requiring…

DOJ and SEC Release Second Edition to FCPA Resource Guide

USA - July 9 2020 The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) quietly released updated guidance on the Foreign Corrupt Practices…