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
FTX crypto-exchange founder Samuel Bankman-Fried was charged Tuesday in a superseding indictment filed in the Southern District of New York with 31 counts, including conspiracy to violate the anti-bribery provisions of the FCPA.… Continue Reading
The release on October 4 of the 11th Basel AML Index drew attention not only to its ranking of money laundering risks in 128 countries but for its stark message: in a fast-changing world, progress in addressing money laundering and terrorist financing risks is not moving fast enough.… Continue Reading
A major inquiry has revealed what I and many others in the fraud space have long said: money laundering is rampant in one of Canada’s main provinces, British Columbia (B.C.), and the few cursory efforts made by the federal and provincial governments to tackle it have been largely ineffective. … Continue Reading
It’s nearly impossible to violate the FCPA’s anti-bribery provisions without committing a money laundering offense. Over the past five years, 85 percent of all individuals indicted for FCPA offenses have also faced money laundering charges.… Continue Reading
Two compliance-related facts have emerged since the start of 2021, and they must be related. First, the DOJ’s enforcement priority has shifted to individuals who commit white-collar “corporate” crimes and away from the corporations themselves.… Continue Reading
At the start of the New Year, the UK’s tax authority, HM Revenue and Customs (HMRC), issued a series of punitive fines – including its largest-ever punitive sum – against businesses that had breached strict anti-money laundering regulations.… Continue Reading
In 2020, the DOJ and SEC brought FCPA enforcement actions against 12 companies and imposed financial penalties totaling a record $6.4 billion. For a comparison, in 2019, 14 companies paid a (then) record $2.9 billion to resolve FCPA cases.… Continue Reading
The high end of the global art industry is an opaque world of often secret acquisitions, cautious collectors, subjective valuations, and high-value cross-border movement of artwork and funds. These inherent characteristics may protect the privacy and security of genuine buyers and their prized pieces, but they also make the art industry a magnet for criminals seeking to launder their ill-gotten gains.… Continue Reading
A globally coordinated day of enforcement action — involving sharing of evidence and intelligence, and information collection activities such as search warrants, interviews and subpoenas — against suspected offshore tax evasion orchestrated by a Central American financial institution was undertaken last week by the Joint Chiefs of Global Tax Enforcement (J5) from the United Kingdom, United States, Canada, Australia and the Netherlands.… Continue Reading
In early December, when Assistant AG Brian Benczkowski summarized the year’s FCPA enforcement scoreboard against individuals, he surprised just about everyone.… Continue Reading
Azerbaijan’s Financial Market Supervisory Authority was scrapped in November, with its powers vested back to the former regulator. While the agency had contributed to a positive impact on the financial industry at the global level, its work at ground level may give hints on why the decision was taken.… Continue Reading
The DOJ unsealed an indictment Wednesday charging the former chief executive officer of Braskem S.A. with helping his company and Odebrecht S.A. amass a giant slush fund and use it to bribe officials and political parties in Brazil.… Continue Reading
