Last week, the Financial Crimes Enforcement Network (FinCEN) announced its first-ever civil penalty against a cryptocurrency exchanger for willful violations of the Bank Secrecy Act (BSA). According to the FinCEN Assessment of Civil Money Penalty (Assessment), California-based Eric Powers failed to register with FinCEN as a money services business (MSB); develop, implement, and maintain an
By Charles A. De Monaco, Matthew D. Lee and Jana Volante Walshak
Deputy Attorney General Rod Rosenstein unveiled a new Justice Department policy for resolving major corporate investigations last month at a speech to the New York City Bar White Collar Crime Institute.
The new policy encourages coordination among Justice Department components and other enforcement…