Archives: money laundering

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Recent Enforcement Action Against Virtual Currency Signals Sea Change

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a groundbreaking enforcement action against Ripple Labs, Inc., a Northern Californian virtual currency company. FinCEN announced on May 5th that Ripple Labs has been ordered to pay $700,000 in penalties and fines for violating FinCEN’s money transmitter regulations. The company has been charged with acting … Continue Reading

Utah Legislature Approves White Collar Crime Registry

In an unprecedented move, the Utah Legislature has approved a measure to create the country’s first white-collar crime offender registry. Similar to convicted sex offenders registries, the measure calls for the publication of white-collar offenders’ names and aliases, a recent photograph, a physical description, and a list of their crimes. Pointing to the trusting nature … Continue Reading

Restitution for Money Laundering Not Offset by Victim’s Self-Help, Court Rules

The Mandatory Victims Restitution Act of 1996 (“MVRA”) provides that a victim of a federal crime may be entitled to an order of restitution for certain losses suffered as a direct result of the commission of the crime for which the defendant was convicted.  For example, a corporation may be entitled to restitution from an … Continue Reading
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