Archive

Project Proposes Legislative Action to Protect and Incentivize AML Whistleblowers

Posted 05/29/20

Offshore Alert and the Association of Certified Financial Crime Specialists were joined by Constantine Cannon Whistleblower Lawyers Poppy Alexander, Eric Havian, and Michael Ronickher in developing a proposal to enact legislation that would create statutory incentives and protections for whistleblowers with information about money laundering. The proposal, unveiled on May 25, 2020, was developed in response to a...

Tagged in: CC Lawyers, COVID-19, Importance of Whistleblowers, Money Laundering, Whistleblower Protection Laws,

Constantine Cannon’s Hackathon Challenge Generates Eleven Innovative Solutions to Protect COVID-19 Whistleblowers

Posted 05/29/20

The Constantine Cannon whistleblower team is delighted to reveal eleven innovative Hacks created in response to our Challenge to find ways to harness the power of whistleblowers to stem the tide of COVID-19-related frauds and misinformation. Constantine Cannon’s team of whistleblower attorneys submitted the Challenge to The Financial Times’ Global Legal Hackathon (GLH), a worldwide effort to draw on the...

Tagged in: CC Lawyers, COVID-19, FCA State, Government Programs Fraud, Importance of Whistleblowers, International Whistleblowers, Money Laundering,

COVID Leaves Bags of Illicit Cash with Nowhere to Go

Posted 05/15/20

Few people may have given much thought to the actual mechanics of money laundering beyond rooting (or not) for Skyler and Walt’s carwash business. Many non-television criminals do, in fact, use otherwise legitimate small businesses to “launder” their money, mixing ill-gotten gains in with legitimate profits. The shutdown of the international economy has thus had a surprising consequence: illicit funds have...

Tagged in: COVID-19, Cryptocurrency, Money Laundering,

US to Recover More Than $49 Million in Assets Related to the 1MBD Embezzlement and Money Laundering Scandal

Posted 05/8/20

The DOJ entered into a $49 million settlement this week in one of the civil forfeiture cases related to the 1Malaysia Development Berhad fund scandal. The 1MDB fund was created by the government of Malaysia to promote economic development in Malaysia through global partnerships and foreign direct investment, and its funds were intended to be used for improving the well-being of the Malaysian people. According to...

Tagged in: Financial and Investment Fraud, Money Laundering,

The Paycheck Protection Program is a Big Solution to a Big Problem, but it Needs Big Oversight

Posted 04/10/20

It’s no secret that our local bodegas, corner nail salons, and go-to restaurants are in trouble. The unprecedented nationwide stay-home initiatives may be flattening the curve, but they’re also threatening to bankrupt millions of small businesses and their employees. The Coronavirus Aid, Relief, and Economic Security (CARES) Act aims to address this problem with numerous programs, including the Paycheck Protection...

Tagged in: COVID-19, FCA Federal, Financial and Investment Fraud, Financial Institution Fraud, Importance of Whistleblowers, Legislation and Regulation News, Whistleblower Rewards,

Catch of the Week: Wells Fargo Pays $3 Billion, and another $35 Million, in Latest in Long Line of Government Enforcement Actions against the Bank

Posted 02/28/20

On February 21, 2020 the Department of Justice announced that Wells Fargo & Co. agreed to pay $3 billion to resolve civil and criminal allegations that Wells Fargo’s “cross-selling” practices led to millions of accounts being opened for customers under false pretenses and without consent. These practices allegedly led to Wells Fargo collecting millions of dollars in fees. Less than one week later, two of...

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

Constantine Cannon Whistleblower Team’s Top-Ten “Staff Picks” of 2019

Posted 01/27/20

From cybersecurity, cryptocurrency, and “big data” to private-equity backed healthcare, private detention facilities, and the essential whistleblower experience – your prolific and relentless CC WB bloggers have chosen some of their favorite 2019 posts (and one from 2018) – don’t miss these insider-favorite gems!

1. Your worst nightmare – private data exposed to the unscrupulous – could be curbed...

Tagged in: Cryptocurrency, Cybersecurity and Data Breaches, FCA Federal, FCPA, Importance of Whistleblowers, Money Laundering, Pharma Fraud, Tax Fraud, Top 10, Whistleblower Case, Whistleblower Rewards,

Top Ten Federal Financial Fraud Recoveries of 2019

Posted 01/17/20

The U.S. government has a range on enforcement options for financial and investment fraud, including those that provide for whistleblower rewards such as the SEC Whistleblower Program, the CFTC Whistleblower Program, and the IRS Whistleblower Program, each of which are very much open for business and continuing to pay millions of dollars in whistleblower awards in exchange for their assistance in exposing...

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, FIRREA, Housing and Mortgage Fraud, Top 10,

Malta’s Ongoing Corruption Scandal Renews Focus on Money Laundering

Posted 12/5/19

The tragic murder of investigative journalist Daphne Caruana Galizia in 2017 sparked international outrage—and the fear that nothing would be done to discover who was behind her death. This turns out not to be the case. After years of persistence from her family and journalist community, Yorgen Fenech, a gambling, real estate, and energy mogul, was arrested on November 20 for complicity in her murder. He has...

Tagged in: Abusive Tax Shelters, International Whistleblowers, Money Laundering,

Legislation Watch: Proposed Amendments to Bank Secrecy Act Include Whistleblower Rewards

Posted 10/23/19

Currently in the 116th Congress, both the House and Senate are considering bills that would amend existing law to provide a whistleblower reporting system and meaningful financial rewards to whistleblowers who come forward to the federal government to report unlawful money laundering and other violations of specified banking laws. We have previously written on the important benefits that would be available with...

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Importance of Whistleblowers, Legislation and Regulation News, Money Laundering,

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Project Proposes Legislative Action to Protect and Incentivize AML Whistleblowers

Constantine Cannon’s Hackathon Challenge Generates Eleven Innovative Solutions to Protect COVID-19 Whistleblowers

COVID Leaves Bags of Illicit Cash with Nowhere to Go

US to Recover More Than $49 Million in Assets Related to the 1MBD Embezzlement and Money Laundering Scandal

The Paycheck Protection Program is a Big Solution to a Big Problem, but it Needs Big Oversight

Catch of the Week: Wells Fargo Pays $3 Billion, and another $35 Million, in Latest in Long Line of Government Enforcement Actions against the Bank

Constantine Cannon Whistleblower Team’s Top-Ten “Staff Picks” of 2019

Top Ten Federal Financial Fraud Recoveries of 2019

Malta’s Ongoing Corruption Scandal Renews Focus on Money Laundering

Legislation Watch: Proposed Amendments to Bank Secrecy Act Include Whistleblower Rewards

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