Banking and Finance

Recent Posts

If You Invested Less Than $925,000 With Bernard Madoff, You're Now Even
Posted on 31 Mar 2014 by Jordan D. Maglich

In an announcement from the court-appointed trustee overseeing recovery for victims of Bernard Madoff's massive Ponzi scheme, a proposed fourth distribution of approximately $350 million will resolve all claims from victims with an allowed claim of... Read More

BSA/AML Compliance – The Importance of Currency Transaction Reports (CTRs)
Posted on 1 May 2014 by Sheshunoff Team

Currency Transaction Reports have been around since the Money Laundering Control Act of 1986, and along with its stricter Suspicious Activity Report progeny implemented in 96, have greatly contributed to a financial institution’s compliance workload... Read More

JPMorgan to Pay Record $1.7B to Settle Claims It Failed to Report Madoff Fraud
Posted on 7 Jan 2014 by Timothy Raub

NEW YORK — (Mealey’s) JPMorgan Chase Bank NA has agreed to a civil forfeiture of a record $1.7 billion to settle claims that it violated provisions of the Bank Secrecy Act during its time as the primary bank for Bernard L. Madoff’s massive... Read More

Jury Convicts Former Madoff Employees Of All Charges
Posted on 25 Mar 2014 by Jordan D. Maglich

In the first trial to take place since Bernard Madoff's massive Ponzi scheme shocked the world more than five years ago, five former employees at Madoff's investment firm were convicted by a New York federal jury for their participation in Madoff's... Read More