News & Analysis as of March 21, 2025

Criminal Investigations

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Criminal Case Round-Up: Recent Prosecutions Involving Financial Institution Officers

Ballard Spahr LLP on 2/5/2024

The Department of Justice (“DOJ”) has been very active in the Bank Secrecy Act (“BSA”) / Anti-Money Laundering (“AML”) space, as reflected by a recent series of individual prosecutions and corporate non-prosecution agreements...more

7 Enforcement Predictions For US Export Controls, Sanctions

Akin Gump Strauss Hauer & Feld LLP on 12/14/2023

Within the trade bar there is cautiousness, curiosity and skepticism at the numerous pronouncements signaling greater enforcement of export controls and sanctions by the Bureau of Industry and Security, the Office of Foreign...more

GAO Report: DOJ Cannot Provide Meaningful Feedback on SAR Use

Ballard Spahr LLP on 9/1/2022

How effective is the current framework for filing Suspicious Activity Reports, or SARs? The AML Act mandates that federal law enforcement agencies provide statistics to assist Congress, regulators, and financial institutions...more

FinCEN issues assessment on possible “no-action” letters for industry

Ballard Spahr LLP on 7/9/2021

As required by the Anti-Money Laundering Act (“AML Act”), the Financial Crimes Enforcement Network (“FinCEN”) issued on June 30, 2021 its 14-page assessment regarding the feasibility of FinCEN issuing so-called “no-action”...more

Federal Banking Agencies Issue Joint Statement On Enforcement of BSA/AML Requirements; FinCEN Follows With Its Own

Ballard Spahr LLP on 8/24/2020

Regulators Provide Greater Transparency into BSA/AML Enforcement Process - On August 13, 2020 the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the...more

FinCEN Director Blanco Addresses AML Compliance and Casinos

Ballard Spahr LLP on 8/15/2019

FinCEN Director Kenneth A. Blanco delivered prepared remarks on August 13 at the 12th Annual Las Vegas Anti-Money Laundering Conference. We previously have blogged repeatedly on the anti-money laundering (“AML”) and Bank...more

FinCEN Dispenses Law Enforcement Awards Based on BSA Reporting

Ballard Spahr LLP on 5/23/2019

Director Blanco Stresses Importance of BSA Filings to Criminal Investigations and Prosecutions - As we have blogged, Kenneth Blanco, the Director of Financial Crimes Enforcement Network (“FinCEN”), has publically and...more

US Blockchain Enforcement and Litigation Update

Dechert LLP on 2/1/2019

Over the past two years, prices for cryptocurrencies and other digital assets have experienced extreme gains and declines, while billions of dollars have been raised through Initial Coin Offerings (“ICOs”). In this dynamic...more

Cross-Border Investigations Update - November 2017

Skadden, Arps, Slate, Meagher & Flom LLP on 12/2/2017

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more

FinCEN Action Demonstrates the Agency’s Ability to Use Anti-Money Laundering Laws Against Non-U.S. Entities

Akin Gump Strauss Hauer & Feld LLP on 8/3/2017

On Wednesday, July 27, 2017, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a $110 million fine levied against BTC-e, a digital currency exchange, for BTC-e’s alleged refusal to abide by...more

Beneficial Ownership Due Diligence Requirements

The Volkov Law Group on 4/20/2017

The new FinCEN regulations requiring financial institutions to secure beneficial ownership information is fast approaching – May 2018. The US has been way behind in this regulatory area. As a result, money-laundering activity...more

Casino Forfeiture a Reminder that FinCEN’s Regulatory Oversight May Involve DOJ and Criminal Penalty

McGuireWoods LLP on 7/31/2015

The civil money penalty was surprising for two reasons: first, that FinCEN would investigate and fine a casino unfamiliar even to analysts who cover the gaming industry, on an island chain few knew existed; and second, for...more

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FinCEN › Anti-Money Laundering › Criminal Investigations

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