Tag: Women in FinCrime

Regulatory Watch News

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  Treasury Targets Large Chinese Network of Illicit Drug Producers

  OFAC

  October 3, 2023

  WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 28 individuals and entities involved with the international proliferation of illicit drugs, including a China-based network responsible for the manufacturing and distribution of ton quantities of fentanyl, methamphetamine, and MDMA precursors. Those designated by OFAC today are also involved in the global trafficking of xylazine and “nitazenes,” which are highly potent and often mixed with illicit fentanyl or other drugs.

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  Deutsche Bank AG: BaFin appoints special representative due to disruptions in customer service

  BaFin

  October 3, 2023

  On 29 September 2023, the Federal Financial Supervisory Authority (BaFin) appointed a special representative for Deutsche Bank AG. The special representative is tasked with monitoring the bank to ensure that it quickly and comprehensively resolves the disturbances affecting the retail banking business of its Postbank and DSL Bank branches.

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  Genomic Health Inc. Agrees to Pay $32.5 Million to Resolve Allegations Relating to the Submission of False Claims for Genetic Cancer Screening Tests

  US Department of Justice

  October 2, 2023

  Genomic Health, Inc. (GHI), a Delaware corporation headquartered in Redwood City, California, has agreed to pay $32.5 million to resolve allegations that it violated the False Claims Act by engaging in a nationwide scheme to improperly bill Medicare for certain laboratory tests used to diagnose and treat cancer patients. GHI is a wholly owned subsidiary of Exact Sciences Corporation, which acquired GHI in November 2019.