Anti-Money Laundering and the Foreign Corrupt Practices Act (FCPA): Recent Enforcement Trends and Developments

2021-09-07T22:07:27-04:00

Financial organizations generally use the Foreign Corrupt Practices Act (FCPA) and the anti-money laundering (AML) policy to address litigation matters involving corruption and bribery issues. Thus, strengthening these litigation tools is vital to combat relevant threats within the financial system. In line with this, the Biden administration recently issued the "Memorandum on Establishing the Fight Against Corruption as a Core United States National Security Interest," requiring interagency cooperation to develop strategies to address global corruption, money laundering, and illicit financing. This means that a heightened enforcement regulation and stricter compliance requirements are to be expected in the coming days.

Cross-Border Investigations: What’s New and What Lies Ahead

2021-09-09T01:27:11-04:00

Cooperation between global regulators and law enforcement authorities across borders has become more common today – a trend which resulted in a more complex and large-scale cross-border investigations. This joined-up approach, along with other challenges brought by the current remote work environment setup and the new administration’s enforcement priorities, has posed several challenges to investigators.

The SEC’s Enforcement Actions and Investigations: Managing Compliance Risks

2021-08-29T20:51:22-04:00

In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent developments in The SEC’s Enforcement Actions and Investigations: Managing Compliance Risks. Speakers will also present all important issues surrounding this significant topic. Join us for this Knowledge Group Webinar!

What’s Ahead for Consumer Financial Protection: Navigating the Evolving Legal and Regulatory Landscape For Financial Services Companies

2021-09-16T01:15:18-04:00

The Consumer Financial Protection Bureau (CFPB) enforcement landscape has been continuously reshaped by significant rule changes and regulatory developments. Among the latest issues, which the financial services industry needs to be aware of, include consumer protection concerns related to COVID-19 and CFPB’s anticipated rules relating to default mortgage servicing. Both are expected to bring more complexity and compliance challenges to financial institutions.

Anti-Money Laundering Due Diligence and Compliance in the 2020 Landscape: Going Beyond the Horizon

2021-07-12T05:57:27-04:00

Over the past years, anti-money laundering due diligence and compliance has continuously intensified and remained to be among the ever-evolving challenges for businesses. Furthermore, the rapid developments brought by financial technologies have opened cyber and insider threat vulnerabilities, adding up to the risks that regulators and financial institutions need to address.

IT M&A Due Diligence: Best Practices Uncovered

2021-05-20T08:04:28-04:00

Preparing to conduct an M&A transaction, the focus is to make the deal work. One of the factors critical to the success of every M&A transaction is an extensive information technology (IT) integration strategy. Although often overlooked, performing IT due diligence in the post-deal phase is crucial in ensuring a successful IT integration. Insufficient focus on IT due diligence can result in poor execution and, eventually, evitable problems that companies will have to face after the deal announcement.

Data Breach Litigation in the 2020 Landscape: Practical Tips and Strategies to Avoid the Pitfalls

2021-05-18T08:21:20-04:00

With the fast-growing problem and increasingly sophisticated threats of cyber security and data breaches, litigation and other related cases continue to hound the landscape. These lawsuits have brought large numbers of damages to individuals and industries, such as consumers and financial institutions over the years.

Here Comes California Consumer Privacy Act (CCPA): How to Stay Compliant

2021-05-18T07:53:01-04:00

Intended to enhance consumer privacy rights and data use transparency, the California Consumer Privacy Act (CCPA) of 2018 is regarded as the most comprehensive privacy law in the U.S. The Act, which went into effect on January 1, 2020, imposes stringent privacy requirements with significant impacts on many entities that do business with California residents.

Never Trust, Always Verify: Battling Sophisticated Cybersecurity Threats with “Zero Trust” Approach

2021-05-18T02:41:52-04:00

Today’s leaders in cybersecurity continue to look for ways to protect organizations from the increasingly sophisticated cybersecurity attacks. From the antiquated belief of "trust, but verify," the security world seems to be warming up to the new principle of zero trust IT. Under the latter approach, nothing inside or outside of an organization is being trusted.  The zero trust model cuts the time spent in tracking false positives, thus, enabling organizations to increase their productivity.

Responding to and Dealing with SEC Investigations: A Comprehensive Guide

2021-05-24T05:19:07-04:00

When a certain company is served with a subpoena from the Securities and Exchange Commission (SEC), it indicates that the Commission has obtained sufficient information to get a formal investigation order. It can be harrowing for any business entity to be served with such order as it may have a significant impact on the company’s resources and overall reputation.

Recent BSA/AML Trends and Developments: Best Compliance Practices for Your Client

2021-05-14T05:41:43-04:00

As threats of financial crimes continue to grow, enforcement actions under the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) remain to have a significant impact and implication on future regulations.  Recently, the Office of the Comptroller of the Currency (OCC) released its 2020 bank supervision operating plan that sets forth its supervisory strategies and objectives regarding BSA/AML compliance.

BSA/AML Enforcement and Compliance: How to Effectively Mitigate Risks and Perils

2021-09-02T01:51:33-04:00

Staying compliant with the evolving regulatory landscape of Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA) has always been challenging. With the passage of the National Defense Authorization Act (NDAA) for the fiscal year 2021, increased scrutiny and heightened penalties are expected. Amidst these changes, financial institutions also grapple with imminent credit and liquidity risks which, if not mitigated, could significantly affect operations and revenue.

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