News & Analysis as of

Financial Crimes

WilmerHale

FCA's Regulatory Plans Signal Cause For Cautious Optimism

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Supporting growth, fighting crime, helping consumers and being a smarter regulator: These are the four predictable priorities identified in the Financial Conduct Authority's 2025-2030 strategy document, released on March 25. ...more

McDermott Will & Emery

The UK Economic Crime & Corporate Transparency Act 2023: What companies need to know and what they can do to prepare

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The UK Economic Crime & Corporate Transparency Act 2023 sets out two major reforms making it much easier for UK authorities to prosecute corporate wrongdoing: - it substantially increases the circumstances in which a company...more

Clark Hill PLC

Clark Hill 2025 Commercial Real Estate Outlook: The Number One Cybersecurity Threat Facing the Real Estate Sector

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When we talk to clients about cybersecurity, it tends to conjure up images of ransomware, systems that are encrypted and inaccessible, and stolen data. For the real estate sector, ransomware isn’t the largest cybersecurity...more

Ropes & Gray LLP

[Podcast] Getting Your Head Around the UK’s New (and Globally Relevant) “Failure to Prevent Fraud” Offence

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On this Ropes & Gray podcast, join Amanda Raad, co-head of the firm’s global anti-corruption and international risk and crisis management & investigations practices, Nitish Upadhyaya, director of behavioral insights at the...more

K&L Gates LLP

What Legal Services Providers Need to Learn From OFSI's Legal Services Threat Assessment

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In its first-ever threat assessment of the UK legal sector, the UK’s Office of Financial Sanctions Implementation (OFSI) has raised red flags with regards to suspected sanctions breaches involving UK legal services providers...more

Sheppard Mullin Richter & Hampton LLP

New York AG Sues Earned Wage Access Companies for Allegedly Unlawful Lending Practices

On April 14, New York Attorney General Letitia James announced two separate lawsuits against earned wage access providers—one against a company that issues advances directly to consumers, and another targeting a provider that...more

Hogan Lovells

UK: “Duty of retrieval” rejected: why banks do not owe a duty to recover funds lost through APP fraud

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Banking fraud of all types is an ever increasing problem in today’s society, and takes a multitude of forms. On a basic level, frauds can be divided into two types. Unauthorised fraud, where the victim does not provide...more

Wiley Rein LLP

[Podcast] Oil, Opulence, and One Crystal-Encrusted Michael Jackson Glove

Wiley Rein LLP on

Join hosts Tatiana Sainati and Diana Shaw as they delve into the harrowing history of corruption and violence in the Republic of Equatorial Guinea. Discover how a single political family managed to siphon off the nation's...more

Troutman Pepper Locke

The FTC Shines Its Spotlight on the Top Text Scams of 2024

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As technology advances, so do the tactics of scammers. The Federal Trade Commission (FTC) recently released a data spotlight on the top text scams of 2024, revealing a significant increase in financial losses despite a...more

Ankura

Fraud and Corruption in Covid Bounce Back Loans - A Perspective for Lenders

Ankura on

Under the government Bounce Back Loan Scheme (BBLS), small businesses struggling due to the pandemic could obtain a fully government-secured loan of up to £50,000 with no repayments required for the first 12 months....more

Harris Beach Murtha PLLC

SEC Enforcement Action in SDNY Highlights Risks for AI Companies

On April 9, 2025, the Securities and Exchange Commission (SEC) filed a complaint in the U.S. District Court for the Southern District of New York against Alberto Saniger Mantinan, the founder and CEO of Nate, Inc. The SEC...more

Wiley Rein LLP

[Podcast] From DOJ to Private Practice with Albert "BJ" Stieglitz

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Join host Kevin Muhlendorf for an insightful conversation with Albert "BJ" Stieglitz, a former federal prosecutor with unique cross-border expertise. In this episode, BJ shares his experiences from his time at the UK Serious...more

Greenberg Glusker LLP

Out with a Whimper: FinCEN Issues Interim Final Rule on Corporate Transparency Act, Narrows BOI Reporting Requirements

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On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced an interim final rule, which was officially published in the Federal Register on March 26, 2025, removing the requirement for U.S. companies and...more

Thomas Fox - Compliance Evangelist

Compliance into the Weeds: The Uncertain Future of Compliance Monitors under the Trump Administration

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Are you looking for some...more

Ballard Spahr LLP

A New Era for Digital Assets: The Impact of DOJ’s Shift Away from Regulation by Prosecution and Its Implications

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In a significant policy shift, Deputy Attorney General Todd Blanche issued a memorandum titled “Ending Regulation By Prosecution,” on April 7, 2025, signaling a change in the Department of Justice’s (DOJ) approach to digital...more

K2 Integrity

[Webinar] FCPA & FEPA versus the Middle East – What can we expect in the coming year? - April 30th, 9:00 am ET

K2 Integrity on

Join our panel of experts for a one-hour session where they will discuss the impact of the halt on FCPA and FEPA enforcement by the Trump administration and what it means for the Middle East in terms of investigations and...more

Mayer Brown

IRS-CI Announces a New Initiative to Enhance BSA Information-Sharing with Financial Institutions

Mayer Brown on

On March 28, 2025, the Internal Revenue Service (“IRS”)’s criminal investigative arm, IRS Criminal Investigation (“IRS-CI”), announced that it would be implementing a new program called CI-FIRST (Feedback in Response to...more

Estlund Law, P.A.

INDIA: Extradition And Deportation Due To Red Notice Status

Estlund Law, P.A. on

Today’s post will address extradition and deportation due to Red Notice status, using as examples the case of two fugitives from India who were INTERPOL Red Notice subjects and were arrested in India following their return...more

Hogan Lovells

What is the new EU AML regime?

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The Single Rulebook is intended to be a single source of AML/CTF regulation that will be applied uniformly in all member states across the EU. This will be achieved primarily through the new AML Regulation, which will be...more

American Conference Institute (ACI)

[Event] 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems - May 12th - 14th, New York, NY

Meet key stakeholders in Banking, FinTech, and broader payment systems next month at ACI’s 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems. Gain valuable insights from these industry...more

DLA Piper

Cartels, China, and Fentanyl-Related Illicit Finance

DLA Piper on

FinCEN report reveals threat patterns and trends for financial institutions to monitor - The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury (Treasury) published a Financial Trend Analysis...more

Sheppard Mullin Richter & Hampton LLP

DOJ Narrows Crypto Enforcement Focus to Fraud and Criminal Conduct

On April 7, in a significant policy shift, the U.S. Department of Justice (DOJ) announced via the release of a memorandum that it will no longer pursue criminal enforcement actions that effectively impose regulatory...more

Sheppard Mullin Richter & Hampton LLP

NYDFS Joins Multistate Action Against Money Transmitter for Financial and Licensing Violations

On March 20, the New York Department of Financial Services (NYDFS) entered into a consent order with a money transmitter, joining a group of state financial regulators acting through a multi-state task force coordinated by...more

Hogan Lovells

Changes in Beneficial Ownership rules under the new EU Anti-Money Laundering Regulation (EU) 2024/1624

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The adoption of the EU Anti Money Laundering Regulation (EU) 2024/1624 (the “AML Regulation") marks a significant advancement in the European Union's efforts to combat money laundering and terrorist financing. Effective from...more

Hogan Lovells

Transforming Industries: How the EU's anti-money laundering regulation affects the non-financial sector

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The new EU Anti-Money Laundering Regulation (EU) 2024/1624 (the “AML Regulation”) introduces significant changes to the regulation of non-financial sectors. By including new obliged entities, the EU demonstrates its...more

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