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The V&E Report
The V&E Report

The Financial Crimes Enforcement Network (“FinCEN”) recently hit the founder and primary operator of both Helix and Coin Ninja with a $60 million civil monetary penalty.

The V&E Report

November 5, 2020
The V&E Report
The V&E Report

On October 8, 2020, the Attorney General’s Cyber-Digital Task Force (“the Task Force”) issued its Cryptocurrency Enforcement Framework (the “Report”), which offers background on virtual assets, enforcement milestones, and plans for increasing scrutiny into the use of cryptocurrency, following the Task Force’s inception in 2018.

The V&E Report

October 22, 2020
The V&E Report
The V&E Report

Recently, BuzzFeed News and the International Consortium of Investigative Journalists (“ICIJ”) reported on a 16-months’ long investigation into a trove of explosive documents apparently leaked from the U.S. Financial Crimes Enforcement Network (“FinCEN”).

The V&E Report

October 6, 2020
The V&E Report
The V&E Report

The Financial Crimes Enforcement Network (“FinCEN”) is asking for feedback on potential regulatory amendments aimed at ensuring that anti-money laundering (“AML”) programs are “effective and reasonably designed.”

The V&E Report

September 23, 2020
The V&E Report
The V&E Report

In a significant move toward more transparency, the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) released new guidance (the “Guidance”) on August 18, 2020, setting forth its enforcement approach and detailing the factors that FinCEN will consider when evaluating matters involving potential violations of the Bank Secrecy Act (“BSA”).

V&E Government Investigations Update

The V&E Report

August 21, 2020
The V&E Report
The V&E Report

When a bank files a suspicious activity report (“SAR”), that bank has immunity from civil lawsuits.

The V&E Report

January 15, 2020
The V&E Report
The V&E Report

A few weeks ago we wrote about the skepticism Libra, Facebook’s proposed cryptocurrency, faced from U.S. regulators. Since then, Libra’s unpopularity has spread across the Atlantic.

The V&E Report

September 25, 2019
The V&E Report
The V&E Report

On May 6, 2019, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 19-18 to help broker-dealers recognize and report potential fraud and money laundering.

The V&E Report

May 22, 2019
The V&E Report
The V&E Report

On March 4, 2019, a British customs agency raided 50 real estate agencies and announced the largest fine ever imposed in the U.K. for money laundering violations in the real estate market.

The V&E Report

March 21, 2019
The V&E Report
The V&E Report

Late last month, federal prosecutors announced the first criminal prosecution against a U.S. broker-dealer under the Bank Secrecy Act (“BSA”).

The V&E Report

January 10, 2019
The V&E Report
The V&E Report

On December 3, 2018, a group of U.S. banking regulators issued a joint statement encouraging banks to use innovative approaches to enhance their Bank Secrecy Act and anti-money laundering (BSA/AML)…

The V&E Report

December 11, 2018