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
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday fined the Sparks Nugget $1 million after the casino admitted that it willfully violated the anti-money laundering (AML) provisions of the Bank Secrecy Act.… Continue Reading
A Florida bank that failed to file suspicious activity reports on time for accounts used in a giant Ponzi scheme will pay $4 million to settle federal civil charges that its defective compliance program led to violations of anti-money laundering laws.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network issued new rules Wednesday to force U.S. title insurance companies to identify the natural persons behind companies used to pay all cash for high-end residential real estate in the Borough of Manhattan in New York City and in Miami-Dade County, Florida.… Continue Reading
The U.S. Treasury Department’s Financial Crimes Enforcement Network and its counterpart in China signed a memorandum of understanding Friday for expanded U.S.- China collaboration to fight money laundering and terrorism financing.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network said Tuesday that the owner of Caesars Palace casino in Las Vegas will pay an $8 million civil penalty for “willful and repeated violations” of the anti money-laundering provisions of the Bank Secrecy Act.… Continue Reading
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) Thursday imposed “special measure five” against Tanzania-based FBME Bank Ltd, formerly known as the Federal Bank of the Middle East.… Continue Reading
Image courtesy of RippleThe Treasury Department’s Financial Crimes Enforcement Network (FinCEN) fined Silicon Valley star Ripple Labs $700,000 Tuesday for selling its virtual currency without registering with FinCEN and for not having an anti-money laundering program.… Continue Reading
The Financial Crimes Enforcement Network issued a Geographic Targeting Order (GTO) to about 700 Miami businesses imposing stricter reviews and reporting of cash transactions that might be tied to money laundering schemes.… Continue Reading
The Financial Crimes Enforcement Network (FinCEN) fined the Trump Taj Mahal Casino Resort $10 million Friday for willful and repeated violations of the Bank Secrecy Act.
Trump Taj Mahal in Atlantic City, New Jersey admitted to willful BSA violations, including lapses in anti-money laundering, recordkeeping, and reporting requirements.… Continue Reading
The First National Community Bank of Dunmore, Pennsylvania (FNCB) admitted that it failed to file suspicious activity reports on transactions linked to the judicial corruption scheme known as “cash for kids” that spanned more than five years.… Continue Reading
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) assessed a $20 million civil penalty against Oppenheimer & Co., Inc. for “willfully violating” the Bank Secrecy Act.
Oppenheimer is a securities broker–dealer based in New York.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) imposed a $1 million civil penalty against the former chief compliance officer for MoneyGram International Inc.
Thomas E. Haider failed to ensure that his company complied with the anti-money laundering (AML) provisions of the Bank Secrecy Act, FinCEN said.… Continue Reading