Anti-Financial Crime & Financial Crime Compliance
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Category: Compliance News

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    • Regulatory Watch News

    • Antitrust Division and U.S. Postal Service Make First-Ever Whistleblower Payment: $1M Awarded for Reporting Antitrust Crime

      US Department of Justice

      Whistleblower Report Led to Charges, a Deferred Prosecution Agreement, and $3.28 million fine against an International Corporation
      The Antitrust Division today announced its first-ever whistleblower reward: a $1 million reward to a whistleblower who provided information that led to EBLOCK Corporation resolving criminal antitrust and fraud charges through a deferred prosecution agreement, under which it has agreed to pay a $3.28 million criminal fine.

    • OFSI Publishes Response to Enforcement Consultation

      OFSI

      We’ve published the response to our public consultation, setting out improvements to make sanctions enforcement more transparent and predictable. These changes are designed to support compliance, give firms greater certainty and help this government apply sanctions in a fair, effective and robust way. Here’s what’s changing:

      • Improve transparency for industry with a new case assessment matrix and updated guidance to make enforcement decisions clearer and more predictable.
      • Enable OFSI to resolve cases more efficiently by introducing settlement and Early Account schemes which will give suitable cases quicker routes to resolution.
      • Streamline process for lower-level breaches with set penalties for appropriate information, reporting and licensing offences.
      • Strengthen deterrence for serious breaches with plans to double OFSI’s maximum civil penalties, subject to legislation.

    • Emil the Seal hijacks Waterloo station to warn commuters about investment scams

      Financial Conduct Authority

      FCA stunt launches new Firm Checker tool as around 700,000 people lose money to investment scams.
      Morning commuters at London Waterloo got more than their usual caffeine hit today when a mysterious 'ATM' promising to 'give away a fortune' stopped them in their tracks – and revealed an unexpected surprise. As curious passers-by approached the machine, the screen slid open to unveil Emil the Seal, the FCA's finance-friendly mascot, delivering a blunt message about the dangers of investment scams.

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