Posts Tagged: U.S. Treasury
We’ve heard it so many times: the Miscellaneous Receipts Act prohibits federal enforcement agencies from doing anything with settlement money other than depositing 100% of it in the U.S. Treasury.
But that simply isn’t true.… Continue Reading
The U.S. Treasury Department said Wednesday it has fined Network Hardware Resale LLC, a global telecommunications and networking equipment provider, nearly $65,000 for allegedly violating U.S. sanctions against Sudan and Iran between 2008 and 2011.… Continue Reading
More than 77,000 foreign banks and other financial institutions agreed to share information about U.S. account holders with the Internal Revenue Service as part of a crackdown on offshore tax evasion, the Treasury Department said Monday.… Continue Reading
U.S. regulators are investigating Charles Schwab and Bank of America’s Merrill Lynch brokerage over whether they are doing enough to verify their clients’ identities as part of their anti-money laundering programs. … Continue Reading
The U.S. Treasury Department announced its settlement with the Dutch company CWT B.V., fining it nearly $6 million for apparent violations of U.S. trade sanctions against Cuba.
CWT is the parent of the Carlson Wagonlit Travel group that operates around the world.… Continue Reading
The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc. that he may face a fine of up to $5 million over the money-transfer company’s previously admitted failures to monitor transactions properly for illicit activity.… Continue Reading
The U.S. Treasury’s Office of Foreign Asset Control (OFAC) designated three people and a business Thursday for sanctions for facilitating public corruption and threatening Zimbabwe’s democratic institutions.
David S. Cohen, Under Secretary for Terrorism and Financial Intelligence, said Thursday’s action targeted those who sought to disrupt Zimbabwe’s democratic and economic progress.… Continue Reading
The people at the DOJ in charge of FCPA enforcement get help from the Egmont Group, they say. The feds describe Egmont as part of the international infrastructure by which enforcement agencies share information and help each other develop evidence to prosecute financial crimes, such as money laundering, tax evasion, and graft.… Continue Reading
A new wind may be blowing at the DOJ. Its tentative deal with JP Morgan indicates a willingness to take a tougher attitude on remediation. The DOJ is asking for a big payment, $13 billion, but the really big news is that DOJ reportedly hasn’t dropped the criminal investigations and will require the bank to admit wrongdoing.… Continue Reading