Stefan Cassella of Asset Forfeiture Law, LLC comments on US v $70,990,605. Under Section 981(k), the holder of a foreign account has statutory standing to contest the forfeiture of a similar amount of money from his bank’s correspondent account in the U.S., but he still lacks Article III standing if his bank has released his money to him and he has therefore suffered no injury.
Canada’s anti-money laundering (AML) regulator will pursue a legislative review targeting its penalty program, following sustained public scrutiny over the
In the current deregulatory environment, investment advisers might expect a reprieve from new federal compliance rules. But one exception is
Moldova’s Prime Minister Pavel Filip and parliament speaker Andrian Candu summoned Russian ambassador Farid Muhametshin on March 9 over what they called “the harassment of Moldovan officials” by the Russian authorities.
Brussels based inter-bank messaging system SWIFT said it had cut off North Korean banks under U.N. sanctions, after Belgium said it would no longer give authorisation for such transactions.
In January the UK Government published a consultation paper aimed at exploring new ways of tackling corporate economic crime, including criminalising conduct committed by, on behalf of, or in the name of companies.
Ukraine’s central bank said on Tuesday it was likely to recommend the introduction of sanctions on the local subsidiary of Sberbank over the Russian lender’s decision to recognize passports issued by separatists in eastern Ukraine.
The Bank of England’s (BoE) new deputy governor, Charlotte Hogg, has apologised for failing to disclose that her brother worked for Barclays, a potential conflict of interest, before she joined the central bank.
Widened conduct rules for British bankers take effect Tuesday, adding more teeth to a regulatory framework that has been a game changer for financial firms since it was first introduced 12 months ago.
A joint venture between house builder Barratt Developments and Wall Street giant Morgan Stanley to develop a £275m residential project on the banks of the Thames is examining contracts it has awarded, as part of a wider investigation into potential corruption in London at the British company.
In a cover story for Dawn, Pakistan's leading English-language newspaper, journalist Khurram Husain writes that money laundering has become central to the normal functioning of the country's economy. Speaking to Amos Wittenberg, Khurram explains how this came ...
As regulatory compliance initiatives move toward utilizing machine learning and artificial intelligence (AI), what effect might the increased efficacy of AML programs have on developing nations and small financial players without large compliance budgets? More ...
Scrapping the Serious Fraud Office is a huge step backwards in the UK’s fight against financial crime
In its manifesto, released yesterday, the Conservative Party pledged to abolish the Serious Fraud Office (SFO) as an independent agency, instead merging it with the much larger National Crime Agency (NCA): 'We will strengthen Britain’s response ...
Barrister & leading financial crime investigator Tom Devlin offers practical guidance on creating a watertight and cost effective compliance regime. He looks at systems, employee training and continuing professional development, and the critical but often overlooked issue of corporate ...
On 3rd April 2017, the UK Treasury gained access to new penalties for individuals and firms that breach UK financial sanctions. Under the new rules, any persons deemed to have been involved in serious breaches after the ...
Syria and Venezuela plotted in recent years to evade international sanctions on Syria through a secret deal to transport its
A major reform of the Dodd-Frank Act moved towards expected passage in the House Wednesday during a hearing on the
White House economic adviser Gary Cohn says President Donald Trump is “looking at” the future of U.S. sanctions on Russia.
This past March 23, singer Alicia Keys headlined the grand-opening party for the Porsche Design Tower, an ultraluxury condominium complex