Industry News

John Geddert, Ex-USA Gymnastics coach was found dead after being charged with human trafficking and sex crimes

Thursday February 25, 2021, John Geddert who had coached the 2012 US Olympic women's gymnastics team, was found dead after being charged with 24 felonies in connection with the abuse...
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FinCEN Announces $390,000,000 Enforcement Action Against Capital One, National Association for Violations of the Bank Secrecy Act

January 15, 2021, the Financial Crimes Enforcement Network (FinCEN), announced Capital One, National Association has been assessed a $390,000,000 civil money penalty for engaging in willful and negligent violations of...
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The Office of Foreign Assets Control (OFAC) fines Indonesian Manufacturer $1 million for Violations of the North Korea Sanctions Program Regulations

On January 14, 2021, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that an Indonesian company agreed to pay over $1 million to settle potential civil...
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The Office of Foreign Assets Control (OFAC) fines Union de Banques Arabes et Françaises $8.5 million for Violations of Syria-Related Sanctions Program Regulations

On January 4th, 2021, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that an Union de Banques Arabes et Françaises agreed to pay $8,572,500 to settle...
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US Anti-Money Laundering Act of 2020 (AMLA 2020)

On January 1st, 2021, Congress passed the 2021 National Defense Authorization Act (NDAA), which includes significant reforms to the United States Anti-Money Laundering (AML) regime. The NDAA includes the Anti-Money...
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United States to receive $150 Million related to Ponzi Scheme from Switzerland

On December 28, 2020, Switzerland’s Federal Ministry of Justice announced that the United States (U.S) will receive $150 million from previously blocked bank accounts by the end of 2020 to...
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FinCEN fines Bitcoin “Mixer” $60 Million for Violating AML/BSA Laws

On October 19th, 2020, The Financial Crimes Enforcement Network (FinCEN) assessed first civil money penalty of $60 Million against Bitcoin "Mixer" for multiple Anti-Money Laundering (AML)/Bank Secrecy Act (BSA) laws...
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Largest Tax Fraud Case in the United States

On October 15, 2020, “A federal grand jury in San Francisco, California, indicted Robert T. Brockman, the Chief Executive Officer of an Ohio-based software company, with tax evasion, wire fraud,...
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FinCEN Files Leaked Globally

On September 20, 2020, the FinCEN Leaked Files were globally publicized. “Leaked documents involving about $2tn of transactions revealed how some of the world's biggest banks have allowed criminals to...
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