On Jan. 19, 2017, The Western Union Company (Western Union) agreed to forfeit $586 million and admitted to criminal violations including willfully failing to maintain an effective anti-money laundering program and aiding and abetting wire fraud. A U.S. Department of Justice (DOJ) investigation uncovered hundreds of millions of dollars being sent to China in structured transactions designed to avoid the reporting requirements of the Bank Secrecy Act, and much of the money was sent to China by illegal immigrants to pay their human smugglers.Read More
Hundreds of organizations, such as AIG, Maersk and Voya have pledged their support to spread fraud awareness during International Fraud Awareness Week, November 12-18, 2017. Fraud Week was founded by the Association of Certified Fraud Examiners (ACFE), and is an opportunity for organizations and individuals to focus time, energy and resources into educating employees and community members about fraud.Read More
With the increasingly international nature of business, the U.S. Department of Justice is keeping its eye on white-collar criminals both within and outside the U.S. White-collar criminal schemes seem to have no bounds. "Email, internet, computer intrusions and spoofing schemes, often originating from beyond our borders, are on the uptick,” said acting Assistant Attorney General Kenneth Blanco, J.D.
Blanco will discuss the future of the DOJ’s white-collar crime enforcement at the 2017 ACFE Law Enforcement and Government Anti-Fraud Summit in Washington D.C., October 30.Read More