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FCPA Blog Daily News

Entries in U.S. Treasury (8)

Monday
Sep292014

The much misunderstood Miscellaneous Receipts Act (Part 1)

We’ve heard it so many times:  the Miscellaneous Receipts Act prohibits federal enforcement agencies from doing anything with settlement money other than depositing 100% of it in the U.S. Treasury.

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Friday
Jun272014

OFAC fines California telecoms firm for Sudan, Iran trade

The U.S. Treasury Department said Wednesday it has fined Network Hardware Resale LLC, a global telecommunications and networking equipment provider, nearly $65,000 for allegedly violating U.S. sanctions against Sudan and Iran between 2008 and 2011.

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Tuesday
Jun032014

More than 77,000 foreign banks will share tax info with IRS 

More than 77,000 foreign banks and other financial institutions agreed to share information about U.S. account holders with the Internal Revenue Service as part of a crackdown on offshore tax evasion, the Treasury Department said Monday.

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Friday
May232014

SEC probing Charles Schwab, Merrill Lynch for AML lapses

U.S. regulators are investigating Charles Schwab and Bank of America's Merrill Lynch brokerage over whether they are doing enough to verify their clients' identities as part of their anti-money laundering programs. 

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Tuesday
Apr222014

Travel services company fined $6 million for illegal Cuba trade

The U.S. Treasury Department announced its settlement with the Dutch company CWT B.V., fining it nearly $6 million for apparent violations of U.S. trade sanctions against Cuba.

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Monday
Apr212014

Treasury may hit compliance officer with $5 million fine

The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc. that he may face a fine of up to $5 million over the money-transfer company's previously admitted failures to monitor transactions properly for illicit activity.

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Monday
Apr212014

Individuals and firm targeted for ‘undermining Zimbabwe democracy’

David S. Cohen, Under Secretary for Terrorism and Financial Intelligence, U.S. TreasuryThe U.S. Treasury's Office of Foreign Asset Control (OFAC) designated three people and a business Thursday for sanctions for facilitating public corruption and threatening Zimbabwe's democratic institutions.

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Tuesday
Oct222013

JP Morgan settlement may be decisive moment for Wal-Mart

A new wind may be blowing at the DOJ. Its tentative deal with JP Morgan indicates a willingness to take a tougher attitude on remediation. The DOJ is asking for a big payment, $13 billion, but the really big news is that DOJ reportedly hasn't dropped the criminal investigations and will require the bank to admit wrongdoing.

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