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On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000...

The CTA and accompanying regulations require a broad range of companies to report information about their beneficial owners to FinCEN.

In 2021, Congress passed the Corporate Transparency Act (the "CTA"), a portion of which went into effect in 2024, requiring most businesses to report their ownership structure and owner identities in an effort to combat fraud and money laundering.

The factual proof of a financial crime is typically found in the financial data and supporting documentation.

The US Department of Justice (DoJ) is attempting to confiscate almost $400 million from the attorney who helped the crypto fraud scheme OneCoin launder hundreds of millions of dollars.

The government has increasingly focused its FCPA enforcement firepower on individuals.

The CFPB highlighted the results of an analysis comparing the uses of traditional and non-traditional sources of information by consumers in the credit process.

Caldwell noted that virtual currencies are attractive to criminals because the transactions transfer quickly, securely and with a level of anonymity.

Seyfarth Synopsis: The Federal Deposit Insurance Corporation is accepting comments until March 16, 2020 on the proposed codification to the Statement of Policy for Section 19...

On Aug. 11, 2014, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued FIN-2014-A007 (the "Advisory").

The Financial Crimes Enforcement Network ("FinCEN") found that more banks and credit unions have been accepting cannabis businesses since 2018.

A firm settled FINRA charges for its failure to "reasonably tailor" its AML program for its "low-priced securities liquidation business."

Federal banking agencies are shifting their supervisory and enforcement focus toward material financial risk and effective risk management. MVA attorneys examine recent regulatory developments from the OCC, FDIC, and Federal Reserve, analyzing how these changes affect matters requiring attention, enforcement actions, and compliance expectations for banks and financial institutions.

The guidance makes clear that banks have a CIP obligation with respect to individual cardholders of general-purpose prepaid cards that have features similar to a deposit account...

Earlier this month, the New York State Department of Financial Services fined The Western Union Company $60 million for allegedly violating the New York Bank Secrecy Act and anti-money laundering laws.

Federal banking agencies urged banks to pursue innovative approaches to meeting Bank Secrecy Act/Anti-Money Laundering ("BSA/AML") compliance obligations.

Representative Henry Cuellar (D-TX) and his wife, Imelda Cuellar, are facing federal charges of bribery, money laundering, and violations of the ban against public officials serving as foreign agents required to register under the Foreign Agents Registration Act (FARA).