Financial Fraud Law

Recent Posts

JPMorgan Admits Violation of the Bank Secrecy Act for Failed Madoff Oversight
Posted on 7 Jan 2014 by Steven A. Meyerowitz

J.P.Morgan Chase Bank, N.A., has admitted that it willfully violated the Bank Secrecy Act (BSA) by failing to report suspicious transactions arising out of Bernard Madoff’s decades-long, multi-billion dollar fraudulent Ponzi scheme. The bank... Read More

Tags: Preet Bharara , Ponzi scheme , Madoff , FinCEN , Jpmorgan , OCC , financial fraud law , financial fraud , Office of the Comptroller of the Currency

Money Service Business Shut Down for Sending Wire Transmissions to Yemen without Anti-Money Laundering Controls
Posted on 10 Feb 2014 by Steven A. Meyerowitz

The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against Saleh H. Adam, doing business as Adam Service, a money services business (MSB), after determining that, since November 2007, Adam Service committed serious and... Read More

Tags: Bank Secrecy Act , FinCEN , Fraud , anti-money laundering , financial fraud law , financial fraud