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On June 3, 2021, President Biden issued the first National Security Study Memorandum of his presidency, in which he declared fighting corruption "a core United States national security interest."

Last week, Attorney General Merrick Garland issued a new DOJ charging and sentencing policy memorandum, replacing existing guidance to federal prosecutors in their exercise of prosecutorial discretion.

Haiti Teleco controlled a monopoly on landline telephone services in Haiti, and Duperval was responsible for negotiating and awarding telecommunications contracts with the company's foreign customers.

The US Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") recently designated Swiss bank MBaer Merchant Bank AG ("MBaer") as an institution of "primary money laundering concern"...

On December 2, 2019, following a nearly seven-week trial, jurors acquitted Lebanese businessman Jean Boustani of fraud and money laundering charges in a federal trial in Brooklyn.

The SEC has charged two offshore entities with orchestrating sophisticated investment confidence scams that defrauded over 2,000 retail investors of at least $15.3 million through fake AI-powered crypto trading platforms. Using WhatsApp group chats, impersonated investment professionals, and fabricated regulatory filings, the defendants created elaborate schemes that promised guaranteed returns while stealing investor funds through shell companies and blocking withdrawal attempts with demands for additional

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month,...

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law...

The U.S. Treasury Department’s Financial Crimes Enforcement Network ("FinCEN") adopted a rule (the "Final Rule") to expand the range of law enforcement agencies eligible to make requests for information under the information sharing procedures adopted by FinCEN pursuant to Section 314(a) of the USA Patriot Act.

FinCEN has issued a joint advisory urging financial institutions to heighten vigilance against fraud schemes involving unlawful employment of non-work authorized populations, identifying identity theft and payroll fraud...

On December 15, 2022, the Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (Access NPRM) that seeks public comment on its proposed rules governing access to,...

FinCEN's rules would define investment advisers as "financial institutions" for purposes of the Bank Secrecy Act (BSA).

FinCEN itself says that there's not much new in the guidance to money services businesses that the agency released last Friday (March 11, 2016) on agent monitoring (the Guidance).

Federal banking regulators and FinCEN have issued new guidance clarifying what financial institutions can tell customers about suspicious activity without violating Bank Secrecy Act confidentiality rules. The Joint Statement addresses the long-standing tension between SAR confidentiality requirements and the need for transparent customer communications about account restrictions, closures, and transaction denials.

The US Treasury has proposed a comprehensive regulatory framework requiring payment stablecoin issuers to implement anti-money laundering and sanctions compliance programs, marking the first time federal law explicitly mandates such requirements for a specific category of US persons.

AML and sanctions compliance enforcement costs remain in the billions as financial institutions in the US continue to be challenged by new regulatory requirements and continuing enforcement action

The agencies stated that there is no specific organizational structure for BSA/AML system oversight, and that a bank may decide which principles in the MRMG are useful to it.