Topic: Money laundering

Wells Fargo subsidiary fined a second time over late SARs

The SEC’s director of enforcement said the settlement sends “a loud and clear message” that companies’ anti-money laundering obligations are “sacrosanct”.

23 May 2022

UK police seize Latvian company’s funds linked to Privatbank case

A London court has ordered the forfeiture of over £200,000 belonging to a purported recruitment company after prosecutors alleged the funds were the proceeds of a “sophisticated, high-value, cross-border money laundering operation”.

19 May 2022

ABN Amro anti-money laundering remediation to cost extra €50 million

19 May 2022

UK MPs: agencies should receive a share of DPA awards

Two cross-party anti-corruption groups have called for the UK government to reinvest some of the money secured from successful enforcement actions into its anti-corruption agencies.

19 May 2022

US prosecutors push for “significant prison sentence” for BitMEX founder

US prosecutors said in a sentencing memorandum submitted on 12 May that Arthur Hayes’ “willful and continuous” violation of the Bank Secrecy Act (BSA) was enough to deserve a “significant sentence of incarceration” of more than 12 months, though it did not ask for a specific sentence.

17 May 2022

BitMEX founders to pay $30m for CFTC registration and AML violations

The three founders resolved the CFTC case three months after pleading guilty to breaking anti-money laundering laws.

06 May 2022

Watch GIR Live: DC

GIR subscribers can now view the entire GIR Live: Washington, DC conference, online. The event, held at Paul Hastings on 7 April, was co-chaired by Nicolas Bourtin of Sullivan & Cromwell and Amy Jeffress of Arnold & Porter.

06 May 2022

Swiss scientist convicted over GlaxoSmithKline trade secrets conspiracy

Gongda Xue is the fifth scientist to be found guilty of participating in the GSK trade secrets theft

03 May 2022

Counsel Watch: Archegos founder lawyers up as fraud charges mount

In the latest counsel watch, the Ukrainian government has tapped a top DC sanctions lawyer to advise the country on Russian sanctions, and former executives at collapsed investment fund Archegos have recruited white-collar lawyers to help them fight civil and criminal fraud charges in New York.

03 May 2022

SFO seizes nearly £600,000 in alleged Petrofac bribes

A London court has approved a Serious Fraud Office request to seize £567,000 from a now-deceased businessman accused of paying bribes on behalf of oil services company Petrofac.

29 April 2022

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