An Amsterdam-based bank, ING Group NV, became involved in a U.S. Securities and Exchange Commission (SEC) investigation for having shortcomings in the execution of preventative measures against financial crimes. This includes requirements for client on-boarding, anti-money laundering (AML) regulations, and… Read more >
The SEC charged big pharma company, Sanofi, for violating the FCPA’s books and records and internal accounting controls provisions, and allegedly paying bribes across the Middle East and in Kazakhstan to gain more business opportunities. Sanofi had their sales people… Read more >
In March 2017, the Department of Justice (DOJ) began investigating the Bank of the Internet (BofI) for possible money laundering violations. However, the company provided a written statement claiming that the company is in good regulatory standing and does not… Read more >
According to the Securities and Exchange Commission (SEC), between March 2012 and June 2013, Wells Fargo failed to comply with anti-money laundering (AML) rules and did not file up to 50 “Suspicious Activity Reports” that are mandatory by the U.S…. Read more >
If an eCommerce giant like Amazon is unable to flag illegal sales to terrorists for five years, how are other eCommerce businesses managing their trade compliance? Amazon.com, Inc. (“Amazon”) (AMZN), the Seattle based electronic commerce (eCommerce) conglomerate, is currently involved… Read more >