Money Laundering

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Karen Boto
Mark Sutton

In the following guest post, Karen Boto and Mark Sutton of the Clyde & Co law firm take a look at the recent stories circulating in the press about the latest data leak concerning the FinCEN files and discuss the implications of these developments. I would like to thank Karen and Mark for allowing me to publish their article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Karen and Mark’s article.
Continue Reading Guest Post: The FinCEN Files – No Hiding from Suspicious Activities

John Reed Stark

Lost amidst all of the turmoil surrounding the dramatic swings in the value of digital currencies is that the original idea for these digital assets is that  they might actually be used as exchange media, in place of traditional currencies. Whether or not someone might use cryptocurrency to, say, buy a cup of coffee at Starbuck’s, Ohio residents, at least, may now use bitcoin to pay their state taxes. In the following guest post, John Reed Stark, President of John Reed Stark Consulting and former Chief of the SEC’s Office of Internet Enforcement, takes a look at Ohio’s recent bitcoin move and reviews what it might mean – for Ohio, and in general. A version of this article previously was published on CybersecurityDocket.com. I would like to thank John for allowing me to publish his guest article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is John’s article.
Continue Reading Guest Post: Ohio Now Accepts Bitcoin for Tax Payments; No Problem, Right?

bofiIn the wake of the 9/11 terrorist attacks, Congress enacted or expanded a number of laws regarding the global financial system in order to combat money laundering and promote national security. As I have noted in prior post (most recently here), regulatory enforcement activity under these laws represents a potentially significant new area of potential D&O exposure. In addition, as a recently filed securities class action lawsuit shows, alleged violations of these financial controls not only can lead to regulatory action by federal regulators but may also lead to private civil litigation.
Continue Reading Money Laundering Allegations and Follow-On Securities Litigation

NERA_horizontal_2945_4cIn the following guest post, Christopher Laursen, Senior Vice President and Chair, Financial Institutions and Bank Practice at NERA Economic Consulting, takes a look at the current enforcement trends involving the Bank Secrecy Act and the Anti-Money Laundering regulations. I welcome guest submissions from responsible persons on topics of interest to readers of this …