News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The New York Department of Financial Services said Tuesday that Standard Chartered Bank will pay $300 million for “failures to remediate anti-money laundering compliance problems” required by the bank’s 2012 settlement with the same regulator.… Continue Reading
New York’s Department of Financial Services said Monday that PricewaterhouseCoopers (PwC) Regulatory Advisory Services has been suspended for two years for helping whitewash a sanctions and anti-money laundering compliance report from the Bank of Tokyo Mitsubishi (BTMU).… Continue Reading
The New York State Department of Financial Services (DFS) issued a proposed “BitLicense” regulatory framework for virtual currency businesses Thursday, and is asking for public comments on the plan.
The framework includes consumer protection, anti-money laundering and cybersecurity rules specific to virtual currency firms.… Continue Reading
After a multi-year investigation into Credit Suisse’s use of illegal offshore bank accounts, the DOJ Monday announced the bank’s guilty plea and the largest-ever monetary penalty in a criminal tax case.… Continue Reading
U.S. authorities are seeking more than $3.5 billion from BNP Paribas SA to resolve federal and state investigations into the bank’s dealings with sanctioned countries, including Sudan, Iran and Cuba.
The agreement is still being negotiated and the amount could change.… Continue Reading
BNP Paribas has set aside $1.1 billion for a potential settlement with federal and state government agencies that are investigating possible U.S. sanctions violations.
The French bank made the disclosure while announcing its annual earnings results in a press release on Thursday.… Continue Reading
New York state’s top financial regulator plans to propose rules this year regulating Bitcoin businesses operating in the state.
This would make New York the first state to do so, and given the state’s prominence as a financial hub, it’s a big step for the virtual currency.… Continue Reading