The hacked system was connected to the Healthcare.gov website, where the general public can sign up for healthcare coverage. Hackers have got access to personal data belonging to 75,000 people in a breach of government health insurance system used by insurance agents and brokers to help customers sign up for healthcare plans in the US, […]

Below is a link to bankersonline who have collected information on recent monetary penalties assessed and C&D Orders imposed by FinCEN or federal and state financial institution regulators (and others) for deficiencies in BSA/AML programs. The cases are arranged in reverse chronological order, and include the name and asset size (when known) of the organization […]

 It has been reported by Reuters that a U.S. judge has ordered Google to comply with search warrants seeking customer emails stored outside the United States, diverging from a federal appeals court that reached the opposite conclusion in a similar case involving Microsoft. http://bit.ly/2laVbqH U.S. Magistrate Judge Thomas Rueter in Philadelphia ruled on Friday that […]

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. FinCEN director Jennifer Shasky Calvery and the chief of the China Anti-Money Laundering Monitoring and Analysis Center, Luo Yang, signed the agreement. Calvery said. […]

U.S. banks have crossed a significant post-financial crisis milestone, tallying more $200 billion in fines paid out regarding questionable behavior. Regulators have been out for blood against banks for conduct both before the crisis and since. Public outrage has focused on Wall Street institutions and their collective role in triggering the subprime mortgage meltdown that […]

A spate of U.S. Securities and Exchange Commission enforcement cases involving several prominent financial services firms has renewed concerns that compliance officers could be blamed for violations committed by others at their companies. Now, a group representing financial services industry compliance professionals is demanding clarity. The National Society of Compliance Professionals (NSCP) wants the SEC […]

Enforcement in the UK The UK’s now defunct Office of Fair Trading hit three real estate agents with a parting gift of fines for ‘significant and widespread failures’ in implementing the UK Money Laundering Regulations 2007. The firms dropped their guard in terms of customer due diligence, ongoing monitoring of business relationships, policies and procedures on record-keeping, […]

Chad, Chris, and Craig Ducey pleaded guilty to conspiracy, false claims against the Internal Revenue Service (IRS), wire fraud and lying to the EPA and the IRS in connection with their roles in a multi-state scheme to defraud biodiesel buyers by fraudulently selling biodiesel incentives. The Ducey brothers operated Middletown, Indiana-based E-biofuels LLC.  As part […]