Contact

Click here for a confidential contact or call:

1-347-417-2192

Archive

Page 1 of 8

Bank of America to Pay $250 Million over Junk Fees and Fake Accounts

Posted  07/13/23
Bank of America Sign
Government regulators this week ordered Bank of America to pay $250 million for engaging in a string of illegal banking practices that harmed hundreds of thousands of consumers. The Consumer Financial Protection Bureau (CFPB) accused Bank of America of double-dipping on junk fees, withholding promised credit card rewards, and opening fake credit card accounts. The Office of the Comptroller of the Currency (OCC)...

Tagged in: Financial and Investment Fraud, Financial Institution Fraud,

Read More

Constantine Cannon's Liz Soltan Featured in The Hill Discusses Protecting FinCEN Whistleblowers

Posted  06/16/23
Capital Building Zoomed in on 50 Dollar Bill
Constantine Cannon Whistleblower associate Elizabeth “Liz” Soltan is featured in The Hill with an op-ed on remuneration for whistleblowers under the Financial Crimes Enforcement Network (FinCEN) whistleblower program.  FinCEN whistleblowers help fight money laundering and sanctions evasion. The FinCEN program is in its early days and has not published regulations. It may be modeled on the Securities and...

Tagged in: Financial Institution Fraud, Money Laundering,

Read More

Top Ten Federal Financial Fraud Recoveries of 2022

Posted  02/1/23
Federal enforcement of financial fraud takes many forms.  This year, thanks to positive developments in the world of money-laundering enforcement, we have expanded our Top Ten Lists related to federal financial fraud. In addition to documenting SEC and CFTC enforcement actions, FCPA enforcement, and money-laundering enforcement, the following list focuses on financial fraud in other realms. The Consumer Financial...

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Top 10,

Read More

Top Ten Money Laundering Enforcement Actions of 2022

Posted  01/10/23
person following a trail of money
2022 was a big year for money-laundering enforcement.  It marked the first full year that the new FinCEN money laundering whistleblower office was up and running.  And, even more remarkably, by the end of the year, the FinCEN program expanded to welcome whistleblowers with information related to sanctions violations after Constantine Cannon attorneys called for this legal change following the Russian invasion of...

Tagged in: Cryptocurrency, Financial and Investment Fraud, Financial Institution Fraud, Money Laundering, Top 10,

Read More

Top Ten SEC and CFTC Recoveries of 2021

Posted  01/7/22
Top Ten Sign with Letters
As we recently detailed, 2021 proved to be a blockbuster year for whistleblowers under the CFTC and SEC Whistleblower Programs.  Seven of the ten largest whistleblower awards of 2021 were made to SEC and CFTC whistleblowers, including a massive $200 million CFTC award that was roughly twice as large as all prior CFTC awards combined.  In total, the SEC paid more awards—both in total dollars and individual...

Tagged in: Accounting Fraud, CFTC Whistleblower Reward Program, Cryptocurrency, Financial and Investment Fraud, Financial Institution Fraud, Fraud in CFTC-Regulated Markets, Misrepresentations, Money Laundering, Regulatory Violations, SEC Whistleblower Reward Program, Securities Fraud, Top 10,

Read More

Top Ten Whistleblower Awards of 2021

Posted  01/6/22
Red Whistle with People
2021 was another banner year for whistleblowers, who once again collectively recovered billions of dollars for the government and hundreds of millions of dollars in whistleblower rewards under the various government whistleblower programs.  This includes awards under the qui tam provisions of the federal False Claims Act and various state False Claims Act programs.  It includes awards under the Dodd-Frank SEC...

Tagged in: Anti-Kickback and Stark, Auto Safety, CFTC Whistleblower Reward Program, FCA Federal, FCA State, Financial and Investment Fraud, Financial Institution Fraud, Healthcare Fraud, Importance of Whistleblowers, Medical Billing Fraud, Medicare, SEC Whistleblower Reward Program, Securities Fraud, Top 10, Whistleblower Case, Whistleblower Rewards,

Read More

The New ENABLERS Act May Be a Backdoor Way to Expand the Anti-Money Laundering Whistleblower Program

Posted  10/14/21
Hundred dollars bills pinned to clothes line
In The Hill this week, I argue that the newly proposed ENABLERS Act is a lot more powerful than even its authors seem to realize.  The proposed law would effectively expand the Bank Secrecy Act to apply the same reporting requirements currently imposed on banks to all sorts of actors who enable (get it?) money laundering: lawyers, investment advisers, accountants, art dealers, public relations firms, and the like. ...

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Legislation and Regulation News, Money Laundering, Tax Fraud, Whistleblower Eligibility,

Read More

Pandora Papers Show the Value of Financial Transparency, the Critical Role of Whistleblowers – and the Need for Additional Regulation

Posted  10/8/21
This week, the International Consortium of Investigative Journalists and its partners began publicly reporting on the “Pandora Papers,” a trove of millions of leaked documents from firms around the world that help customers set up “offshore” accounts and shell companies designed to conceal financial truths.  The leaked documents, and the extensive reporting on the documents, sheds light on the murky world of...

Tagged in: Abusive Tax Shelters, Financial and Investment Fraud, Financial Institution Fraud, Importance of Whistleblowers, Money Laundering, Tax Fraud,

Read More

Catch of the Week: In hot water again, now for fleecing customers in foreign currency transactions, Wells Fargo pays $72m in fines and restitution

Posted  09/29/21
Wells Fargo Bank Banners on Side of Building
Earlier this week, the Department of Justice settled an important case in which Wells Fargo Bank agreed to pay over $70 million in penalties and restitution to defrauded bank customers. Wells Fargo admitted that it defrauded 771 customers, mostly small businesses, who used the bank’s foreign exchange services when they needed to send money overseas or receive money from abroad. Rather than charging standard fees for...

Tagged in: Catch of the Week, Financial and Investment Fraud, Financial Institution Fraud, FIRREA,

Read More

The Evergrande Crisis Shows the Need for Greater Regulatory Oversight of the OTC Markets

Posted  09/23/21
market trading graph with large dip
The potential imminent collapse of China’s largest property builder, Evergrande, is shining a light on just how expensive homes in China’s big cities have become—and how much of a risk of a bubble there is, with potentially catastrophic effects on the global markets.  A potential collapse would not just affect Chinese investors, although they may bear the brunt.  Evergrande is traded over-the-counter in the...

Tagged in: Financial and Investment Fraud, Regulatory Violations, Securities Fraud,

Read More
1 2 3 4 … 8

Newsletter

Subscribe to receive email updates from the Constantine Cannon blogs

Sign up for: