Individuals can be held liable for anti-money laundering (AML) control failures under the Bank Secrecy Act (BSA), a United States District Court in Minnesota has ruled. More specifically, the Court noted that BSA civil penalties provision section 5321(a)(1), by its plain language, and absent specific exceptions, subjects individual corporate officers and employees to the imposition […]

Last week, the U.S. Department of Justice (DOJ) unveiled new guidance to federal prosecutors about bringing criminal cases against individuals in instances of corporate wrongdoing.  The memo states that if a corporation wishes to resolve its own criminal charges and receive any credit for cooperation, it must provide the DOJ with all relevant facts relating […]