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Enforcement
Thursday, December 10, 2015
US, UK penalties against two banks for AML, corruption failings evince gaps in compliance culture »
In two recent bank penalties involving two countries, three regulators and nearly $150 million in combined fines, the fail...
Thursday, November 5, 2015
Penalty roundup: Deutsche Bank pays $258 million to settle sanctions violations, and more »
Enforcement actions for sanctions violations have been coming thick and fast in recent days. This week saw OFAC take actio...
Thursday, November 5, 2015
Penalty roundup: Deutsche Bank pays $258 million to settle sanctions violations »
Enforcement actions for sanctions violations have been coming thick and fast in recent days. This week saw OFAC take actio...
Thursday, October 22, 2015
Finra actions highlight focus on individuals, compliance challenges at smaller firms »
In the past two months, the chief self-regulatory body of the nation’s securities’ sector has been increasingly going afte...
Friday, September 11, 2015
Regulators penalize Caesars Palace nearly $10 million for weak AML programs »
Federal and state regulators penalized a well-known, palatial Las Vegas casino $9.5 million dollars due to broad failures...
Thursday, July 23, 2015
US regulators ding China Construction Bank for lax customer risk rating »
State and federal regulators Tuesday issued a formal enforcement action against the New York-based branch of one of China’...
Thursday, July 23, 2015
FDIC penalizes Banamex USA $140 million for AML failings, operation to close »
The Federal Deposit Insurance Corp. is penalizing a Mexican-based Citigroup subsidiary $140 million for persistent anti-mo...
Thursday, July 23, 2015
FDIC penalizes Banamex USA $140 million for AML failings, operation to close »
The Federal Deposit Insurance Corp. is penalizing a Mexican-based Citigroup subsidiary $140 million for persistent anti-mo...
Thursday, June 18, 2015
Experts: $4.5 million FinCEN penalty against small West Virginia bank »
The US Treasury penalized a small West Virginia bank $4.5 million for “severe and systemic failures” in nearly aspect of i...
Thursday, June 4, 2015
Largest casino penalty ever imposed on Northern Mariana Islands’ Tinian Dynasty »
The Financial Crimes Enforcement Network imposed a $75 million penalty on Tinian Dynasty Hotel & Casino for willful an...
Thursday, May 28, 2015
US lawmakers looking at ways to earmark funds from financial crime penalties to aid agencies »
At least two influential congressional lawmakers are exploring how to retool the laws around financial crime penalties and...
Thursday, May 21, 2015
Four of the world’s largest banks plead guilty to manipulating currency rates to bolster bottom line »
Four of the globe’s largest financial institutions agreed to pay billions of dollars and plead guilty to criminal charges...
Thursday, May 7, 2015
First FinCEN civil action on virtual currency exchanger makes waves in fintech sector »
The US Treasury’s Financial Crimes Enforcement Network (FinCEN) executed its first civil enforcement action against a virt...
Thursday, March 19, 2015
US government frustration, distrust, disgust evident in nearly $1.5 billion Commerzbank penalty »
The nearly $1.5 billion penalty against a German Bank for extensive financial crime violations is notable for more than ju...
Thursday, March 12, 2015
FinCEN Taj Mahal Penalty First Major Bureau Fine Against Large Casino »
The US Treasury’s $10 million penalty against the Trump Taj Mahal Casino Resort last week for anti-money laundering progra...
Thursday, March 5, 2015
Hefty penalty against Penn bank for AML »
The US Treasury’s $1.5 million penalty against a Pennsylvania community bank for deficiencies in its anti-money laundering...
Thursday, February 5, 2015
Stickier enforcement actions call for greater collaboration, more formal sharing »
Broader sharing of financial crime compliance program structures, policies and procedures among a larger universe of banks...
Thursday, December 4, 2014
Global AML probes on Espirito Santo Bank show convergence of financial crime enforcement »
Banco Espirito Santo was a bank that once highlighted its “comprehensive international offering” by its willingness to tak...
Thursday, July 24, 2014
As US pursues tougher cybercrime enforcement, RICO returns to disarm cyber-mafias »
The traditional image of a mob boss at the head of the table directing his cronies is rapidly being replaced with its digi...
Tuesday, July 8, 2014
As penalties soar in financial crime cases, an inside look at how much US agencies are collecting »
Amid an ongoing debate over the effectiveness of monetary penalties and the need for individual accountability in financia...
Sunday, June 22, 2014
In Credit Suisse guilty plea, a template for criminal prosecution of major banks »
On February 26 in a meeting room just blocks away from the US Capitol building, Deputy Attorney General James Cole struggl...
Wednesday, March 19, 2014
In landmark lawsuit, FDIC tries to make institutions that rigged LIBOR rate pay for failed bank loss »
One way to gauge the global impact of the unlawful manipulation of the Libor rate by banks around the world is to tabulate...
Friday, February 14, 2014
MLATs are powerful weapons in financial crime combat, even for private sector »
In the global effort against financial crime in all of its manifestations, there is a powerful tool that can provide subst...
Wednesday, January 29, 2014
With arrest of Bitcoin executive, US enforcement agencies train sights on compliance officers »
Through a string of US Justice Department prosecutions, FBI seizures and regulatory guidance from the Financial Crimes Enf...
Tuesday, October 1, 2013
‘Legal hold’ saves Halliburton in criminal case, grows as corporate mitigation tool »
Halliburton Energies, one of the world’s largest oilfield service companies, last month pleaded guilty to destroying evide...
Tuesday, September 24, 2013
Judicial rebukes of US prosecutors for e-discovery abuses continue as North Carolina US judges weigh »
As the volume of electronically stored information in financial crime cases grows, electronic evidence, or “e-discovery,”...
Tuesday, September 24, 2013
In rare foray in bank financial crime cases, SEC sanctions TD Bank for employee conduct, as OCC »
One month shy of the fourth anniversary of the eruption of the $1.2 billion money laundering and fraud scheme of Ft. Laude...
Friday, July 5, 2013
US court approves contentious HSBC settlement with Justice Department, keeps eye on future conduct »
In a decision that may incite a new round of “too big to jail” public scorn, a US District Court judge has approved the de...
Tuesday, July 2, 2013
New York regulator Lawsky flexes muscle again and Bank of Tokyo Mitsubishi pays steep price »
Benjamin M. Lawsky, the assertive New York financial regulator who serves as the first Superintendent of the state’s relat...
Tuesday, June 25, 2013
New York regulator Lawsky levies $10 million penalty on Deloitte, paves way to consultant reform »
In his tenure as head of New York’s Department of Financial Services (DFS), Benjamin Lawksy has been unafraid to send shoc...
Tuesday, June 18, 2013
Great Britain imports controversial ‘Deferred Prosecution Agreement’ practice from US »
For several years, the United States government has extended to financial institutions and other corporations that are dis...
Tuesday, May 21, 2013
In first enforcement action tied to popular new online currency Bitcoin, US seizes account »
Two months ago, the US government fired its first warning shot at the booming world of virtual currencies. The US Financia...
Tuesday, March 12, 2013
US Senate AML hearing emits the expected sparks as DOJ, regulators and HSBC feel heat »
Demanding answers from the US Department of Justice and bank regulators on why some global institutions are “too big to ja...
Tuesday, February 5, 2013
Senators demand details from DOJ on soft treatment of lawbreaking banks, ponder new law »
When multinational financial institutions found themselves teetering on insolvency during the 2008 financial meltdown, the...
Friday, December 14, 2012
Soft US treatment of UK’s HSBC differs sharply from indictment of 3 big Mexican banks »
In era of terrorist funding worries, US gave HSBC, which had strong Iran ties, a ‘too big to jail’ card, but pushed Mexica...

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