Financial Regulatory Forum

In bid to punish individual, FinCEN pursued MoneyGram business leaders, but caught compliance chief – source

By Guest Contributor
May 20, 2014

By Brett Wolf, Compliance Complete

NEW YORK, May 20, 2014 (Thomson Reuters Accelus) - Although investigators with Treasury’s anti-money laundering unit tried to identify a senior business leader at MoneyGram International Inc who could be penalized over the money transfer giant’s admitted compliance failures, available evidence left them only one viable target – the firm’s former chief compliance officer, a former official with firsthand knowledge of the investigation said.

U.S. financial institutions seen lacking anti-corruption policies for domestic politicians

By Guest Contributor
March 7, 2012

By Brett Wolf

ST. LOUIS/NEW YORK, March 7 (Thomson Reuters Accelus) – Despite an international push for financial institutions to crack down on corruption and money laundering linked to political figures, it remains unclear how firms in the United States and abroad will respond.

U.S. anti-corruption setbacks seen having little impact on company strategies

By Guest Contributor
February 23, 2012

By Brett Wolf

NEW YORK, Feb. 23 (Thomson Reuters Accelus) - The U.S. Justice Department has suffered a string of setbacks in its efforts to enforce the Foreign Corrupt Practices Act, including two this week, but it retains sufficient leverage to persuade companies to settle bribery allegations without a legal fight, sources said.