News & Analysis as of

Fraud New Guidance

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
A&O Shearman

Combatting payment account fraud: Singapore's Shared Responsibility Framework

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On October 24, 2024, the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) jointly announced the implementation of the Shared Responsibility Framework (SRF) in relation to phishing...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Publishes Guidance on the New ‘Failure to Prevent Fraud’ Offence

On 6 November 2024, the UK government published its guidance on the new ‘failure to prevent fraud’ offence, which was introduced in the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023).1 We covered the details...more

A&O Shearman

UK Home Office Publishes New Guidance on Failure to Prevent Fraud

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The U.K.'s Home Office has published guidance on the new corporate criminal offense of failure to prevent fraud under the Economic Crime and Corporate Transparency Act 2023. Under the offense, large organizations may be held...more

Latham & Watkins LLP

UK Government Publishes Guidance on “Failure to Prevent Fraud” Offence

Latham & Watkins LLP on

Guidance clarifies the implementation date, scope, and application of landmark new corporate offence, and provides suggestions for fraud-prevention procedures. On 6 November 2024, the UK Home Office published...more

Kohn, Kohn & Colapinto LLP

Whistleblowers are Key to CFTC’s Priority of Combating Voluntary Carbon Market Fraud

Voluntary Carbon Markets (“VCMs”) are touted as a promising solution to rising global carbon emissions. They have the potential to strengthen climate technology and promote projects that reduce carbon dioxide emissions and...more

WilmerHale

UK Criminal Enforcement Update - Spring 2024

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Recent weeks have seen several notable developments in the UK criminal enforcement landscape...more

BakerHostetler

Swiss Banks Launch Crypto Offerings; GAO Addresses SEC Crypto Bulletin; UK and Hong Kong Publish Crypto Guidance; DOJ and SEC...

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Swiss Banks Launch Tokenization Pilot, Crypto Custody and Trading Services - A recent press release announced a pilot by “SIX, the Swiss National Bank (SNB) and six commercial banks” that seeks “to test, in a live...more

BakerHostetler

Fintech Firms Launch New Products; Crypto Guidance Published by CFTC, EBA, UAE; OFAC Adds Public Keys to SDN List; CFTC, NY AG...

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Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets - According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more

American Conference Institute (ACI)

[Event] 11th Legal, Regulatory & Compliance Forum on Dietary Supplements - June 28th - 29th, New York, NY

ACI and CRN are excited to welcome you back to New York City this Spring for the 11th Legal, Regulatory & Compliance Forum on Dietary Supplements. Since last year, there have been numerous important developments...more

Walkers

Fresh guidance on company director disqualification issued by Jersey’s Attorney General

Walkers on

Attorney General (“AG”) has issued guidance to the industry on the circumstances in which the AG will apply to Jersey’s Royal Court (“the Court”) under article 78 of the Companies (Jersey) Law 1991 (“the Companies law”) to...more

Barnea Jaffa Lande & Co.

Ransomware Attacks – Israeli Justice Ministry Recommendations

In light of the increase in fraud crimes in the digital space, a team from the Israeli Justice Ministry has formulated recommendations for defining a policy to contend with ransomware attacks. The recommendations relate to...more

ArentFox Schiff

Investigations Newsletter: DOJ Indicts 47 Individuals in Largest COVID-19 Fraud Scheme To Date

ArentFox Schiff on

DOJ Indicts 47 Individuals in Largest COVID-19 Fraud Scheme To Date - On September 20, 2022, the US Department of Justice (“DOJ”) announced federal criminal charges against 47 defendants from the nonprofit, Feeding Our...more

Dechert LLP

Federal Reserve Board of Governors Issues Guidelines for Federal Reserve Account Service Access and Additional Crypto-Related...

Dechert LLP on

The Board of Governors of the Federal Reserve System (Federal Reserve) approved final guidelines (Guidelines) on August 15, 2022, to be used by Federal Reserve Banks (Reserve Banks) to evaluate requests to use accounts and...more

BakerHostetler

NFT Market Research Published; Crypto Issues Addressed by FDIC, US Representatives and Foreign Regulators; DOJ Targets Crypto...

BakerHostetler on

Fashion Brands Score with NFTs, but Market Trends Show Threats Abound - According to a recent report, iconic fashion brands from ready-to-wear sportswear to haute couture have been reaping the financial rewards of their...more

BakerHostetler

NFT Endorsements Scrutinized; Bank Crypto Guidance Issued; DOJ, CFTC and SEC Bring Crypto Enforcement Actions; Research Finds...

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NFTs Expand on Social Media, Celebrity NFT Endorsements Scrutinized - According to reports, one of the world’s largest social media platforms recently expanded its NFT (non-fungible token) initiative, allowing users in...more

BakerHostetler

New NFT Initiatives Launch Across Industries; Banking Agencies Publish Crypto Guidance; Enforcement Agencies Bring Crypto Actions;...

BakerHostetler on

New NFT Initiatives Announced in Jewelry, Automobile and Liquor Industries - A U.S. luxury jeweler has reportedly partnered with the popular NFT (non-fungible tokens) collection CryptoPunk to transform the digital...more

BakerHostetler

Financial and Crypto Firms Explore Integration; NFT Market Expands; FATF/Basel Publish Crypto Guidance; DOJ/CFTC Bring Crypto...

BakerHostetler on

Financial Firm Launches Crypto Group, MakerDAO Votes to Integrate with Bank - A major multinational financial institution recently “announced the formation of its Digital Assets and Financial Markets group.” According to...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #333 – FTC Provides Resources to LGBTQ+ Community with “Celebrate Pride, Fight Fraud”

The Federal Trade Commission kicked off Pride Month yesterday, acknowledging that “some of the most egregious scams and abuses target the LGBTQ+ community.” The scams that those in the LGBTQ+ community experience include...more

BakerHostetler

Global Tax Enforcement Group Provides NFT Red Flag Guidance

BakerHostetler on

Key Takeaways - ..The Joint Chiefs of Global Tax Enforcement (J5) issued its first intelligence bulletin providing guidance to banks, law enforcement partners and private investigators regarding indicators of potential...more

Mintz - Health Care Viewpoints

PhRMA Updates its Code on Interactions with Health Care Professionals in Response to the OIG's Special Fraud Alert on Speaker...

On Friday, August 6, 2021, Pharmaceutical Research and Manufacturers of America (PhRMA), the preeminent trade association representing pharmaceutical companies, announced revisions to its Code on Interactions with Health Care...more

King & Spalding

Revised PhRMA Code Provides Stricter Controls on HCP Speaker Programs

King & Spalding on

The Revised PhRMA Code Takes Effect January 1, 2022 - On August 6, 2021, the Pharmaceutical Research and Manufacturers of America (PhRMA) released highly anticipated revisions to its Code on Interactions with Health Care...more

Holland & Knight LLP

FinCEN Announces National AML/CFT Policy Priorities

Holland & Knight LLP on

The Financial Crimes Enforcement Network (FinCEN) on June 30, 2021, issued national priorities for anti-money laundering (AML) and countering the financing of terrorism (CFT) policy (the Priorities), as required by the...more

Pillsbury Winthrop Shaw Pittman LLP

DOL Ups Its Game on Cybersecurity Program Oversight, Begins Audit Initiative

In light of a new DOL audit initiative and increasing cybersecurity threats to ERISA benefit plans, ERISA plan sponsors and fiduciaries should be prepared to answer some important questions: Do the cybersecurity programs of...more

King & Spalding

Department of Justice Vows Vigorous Enforcement of Clinical Trial Fraud

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As disruption from the COVID-19 pandemic continues, pharmaceutical and medical device companies have been working hard to keep FDA-regulated clinical trials on track. Everyone involved in clinical trials should be acutely...more

McDermott Will & Emery

Top Takeaways: New Steps for Compliance: A Closer Look at the DOJ’s Revised Corporate Compliance Program

McDermott Will & Emery on

The US Department of Justice’s (DOJ) revised compliance program document “The Evaluation of Corporate Compliance Programs,” released June 1, 2020, helps organizations understand how DOJ evaluates compliance programs for...more

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