Author Archives: Site Administrator
Hacked, scammed and on your own: navigating cryptocurrency ‘wild west’
When Peggy and Marco Lachmann-Anke learned in January that hackers cracked a 40-character password and cleaned out their cryptocurrency wallet, they did not go to the police or alert the tokens’ issuer, the Berlin-based technology group IOTA.They bought more coins. The Cyprus-based German couple, who describe themselves as financial educators, figured they had no… Read More »
What are South Florida’s most depraved scams?
What is it about South Florida that makes the region such an effective hatchery for scams and schemes? “Is it the weather? Is it because it’s beautiful and the fraudsters want to live here?” asked Kelly Jackson, top agent in the Internal Revenue Service’s criminal investigative division in South Florida, in 2015. “Is it… Read More »
One million Floridians can’t vote due to felony convictions
One million Floridians can’t vote due to felony convictions. That must change, influencers say. More than one million Floridians won’t be able to cast a ballot this election year due to a felony conviction, and that needs to change, a panel of the state’s leading voices urged this week. The latest survey of the… Read More »
$18 million in cocaine shows up amid bananas given to prison
(CNN)This shipment of bananas donated to the Texas Department of Criminal Justice was ripe for contraband. “Sometimes, life gives you lemons. Sometimes, it gives you bananas. And sometimes, it gives you something you’d never expect!,” posted the department on Facebook. On Friday, department officers went to pick up two pallets of donated fruit and… Read More »
Swiss watchdog raps Credit Suisse for anti-corruption failings
ZURICH (Reuters) – Credit Suisse (CSGN.S) failed to adequately combat money laundering in suspected corruption cases linked to soccer’s ruling body FIFA and Venezuelan and Brazilian state oil companies, Switzerland’s financial watchdog FINMA said on Monday, dealing a blow to the bank’s reputation. Watchdog FINMA will appoint an independent auditor to oversee the bank’s… Read More »
Dutch bank ING fined $900 million for failing to spot money laundering
AMSTERDAM (Reuters) – Dutch bank ING Groep NV admitted criminals had been able to launder money through its accounts on Tuesday and agreed to pay 775 million euros ($900 million) to settle the case. “The shortcomings identified resulted in clients having been able to use their bank accounts for money laundering practices for years”,… Read More »
He’s been studying in the U.S. legally for 7 years. Bank of America froze his account anyway
Saeed Moshfegh woke up earlier this month to discover the strangest thing: Though he had plenty of money in his Bank of America account, he couldn’t access it. An Iranian getting his Ph.D in physics at the University of Miami, Moshfegh used the account for everyday transactions. All he had to do to maintain… Read More »
FCPA Liability For Hiring Practices Gains New Credence
The U.S. Department of Justice and the U.S. Securities and Exchange Commission have stood by an expansive theory of anti-bribery liability under the Foreign Corrupt Practices Act for corrupt hiring schemes. Even as some still questioned the commitment of the Trump administration to enforcement of the FCPA, publicly traded Credit Suisse AG and its… Read More »
Cos. Urged To Seek DOJ’s Opinion On M&A Bribery Risks
Law360 (July 26, 2018, 8:40 PM EDT) — A U.S. Department of Justice official has urged corporations looking to acquire a company with possible Foreign Corrupt Practices Act risks to take advantage of the DOJ’s FCPA opinion procedure — but attorneys working in the space say that’s not always an option. On Wednesday, Matthew… Read More »
Anticorruption Enforcement In Asia Proves FCPA Is Alive Under Trump
This past June, Chicago-based spirits manufacturer Beam Suntory Inc. agreed to pay more than $8 million to the U.S. government to resolve Foreign Corrupt Practices Act (FCPA) charges for improper payments by its Indian subsidiary to Indian government officials. Beam resolved the SEC’s civil charges without admitting or denying the allegations. This latest settlement… Read More »
