Money Laundering: Predicate Crimes, Laundering Techniques and the AML Response

by Jeff Simser Money laundering has generally been defined as a process under which "dirty money" produced by criminal activity is turned into "clean money" and moved into the economy in places less likely to attract the attention of criminal authorities. The following EIA explores...

Standard Chartered to Pay $340M To Settle Iranian Bank Funding Cover-Up Claims

NEW YORK - Standard Chartered Bank will pay $340 million to settle claims that it conspired with Iranian government-backed banks and covered up nearly 60,000 "secret transactions" totaling over $250 billion with the banks, which were subject to U.S. government sanctions, according to a ...

Haiti Teleco “Foreign Official” Says He Was Not a “Foreign Official” – Files Appeal on This and Other Issues

This article was reprinted with permission from FCPA Professor Some background is necessary to place in context an interesting development that is likewise relevant to the pending Eleventh Circuit "foreign official" appeal by Joel Esquenazi and Carlos Rodriguez (see here for the prior...

French Citizen Pleads Guilty to Obstructing FCPA Investigation

Last week new FCPA Chief Patrick Stokes announced that the prosecution of individuals would be a priority. This point has become a recurring theme not just in FCPA cases where the international nature of the actions can pose difficulties, but in other actions. Yesterday the DOJ announced a guilty...

Cadwalader: AML Guidance Issued for Banks Seeking to Service Marijuana-Related Businesses

On February 14, 2014, both the Department of Justice (the “Department”)[ 1 ] and the Financial Crimes Enforcement Network (“FinCEN”)[ 2 ] of the Department of the Treasury issued anti-money laundering (“AML”) guidance relating to financial crimes involving marijuana...

DOJ Alleges Wide-Ranging Conspiracy to Bribe Indian Officials to Secure Mining Licenses

This article was reprinted with permission from FCPA Professor Yesterday the DOJ announced the unsealing of a criminal indictment charging six individuals “with participating in an alleged international racketeering conspiracy involving bribes of state and central government officials in India...

Hammer Films’ Frankenstein and the Monster of Corruption in Brazil

Today we celebrate the initial two Hammer Films Frankenstein entries into the horror pantheon. These classic films, from the 1950s, were the The Curse of Frankenstein and The Revenge of Frankenstein. In both films Peter Cushing played the monster’s creator, Dr. Frankenstein. In the first film Christopher...