Another Busy Week in Financial Crime Prevention
This week the US Department of Justice indicated that it will begin directing prosecutors to “consider requiring” certification at the end of an enforcement action settlement that the “the company’s compliance program is reasonably designed and implemented to detect and prevent violations of the law and is functioning effectively.” Also this week, Chairwoman Maxine Waters of the US House Financial Services Committee issued a letter to trade associations representing numerous US businesses requesting detailed information on the actions that America’s financial institutions and businesses have…
The skinny
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