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Pennsylvania Bank Consents to $1.5 Million Assessment for Failing to File Required Suspicious Activity Reports Regarding Transactions by Bank Insider
On February 27, 2015, the Financial Crimes Enforcement Network (FinCEN) assessed a $1.5 million civil monetary penalty against the First National Community Bank of Dunmore, Pennsylvania for willful violations of the Bank Secrecy Act (BSA).
The Philadelphia Inquirer: How Lawyers Prepare for Supreme Court and High-Profile Case
In a February 8 article, Philadelphia Inquirer reporter Chris Mondics profiles Ronald H. Levine and Associate Abraham J. Rein as they prepared for oral arguments before the Supreme Court of the United States (SCOTUS) in November/December 2014.
Managing Wi-Fi Networks on Business Premises: Aggressive Enforcement and Unanswered Questions
On Friday, January 30, 2015, Marriott International, Inc. (Marriott) the American Hotel & Lodging Association (AH&LA), and Ryman Hospitality Properties (Ryman) announced the withdrawal of their petition seeking clarity from the Federal Communications Commission (FCC) regarding businesses' ability to control Wi-Fi connectivity on their premises. It was probably the right decision strategically. However, certain key regulatory questions are unresolved, with no promise of a ready resolution forthcoming.
Financial Crimes Enforcement Network Pursues New Customer Due Diligence Requirements for Banks' Anti-Money Laundering Programs
In the December 2014 issue of PABanker, the magazine of the Pennsylvania Bankers Association, Internal Investigations & White Collar Defense Principal Peter D. Hardy and Associate Carolyn H. Kendall explore the obligation being added to the already significant requirements of banks' Anti-Money Laundering (AML) programs.
First Circuit Upholds $50 Million Tax Refund for Business Deduction Beyond Single Damages in False Claims Act Settlement
The First Circuit Court of Appeals has upheld a jury verdict finding that a company settling claims under the False Claims Act (“FCAâ€) can deduct a significant portion of the settlement payment beyond single damages where the “economic reality†of the settlement payment reflects a compensatory purpose and the settlement agreement includes no tax characterization of the settlement payment.
D.C. Circuit Reaffirms Application of Attorney-Client Privilege to Internal Investigations
The D.C. Circuit Court of Appeal's recent opinion in In Re Kellogg Brown & Root is a victory for corporations and their lawyers across the nation, reaffirming the application of the attorney-client privilege to documents prepared during an internal investigation conducted pursuant to a corporate compliance program.
Third Circuit Decision Adopts More Lenient Pleading Standard in False Claims Act Litigation
A recent Third Circuit Court of Appeals decision could cause more whistleblowers to file False Claims Act (FCA) actions against health care providers based on limited allegations of wrongdoing.
Evaders May Turn to Virtual Currency as Traditional Offshore Bank Secrecy Falters
In the April 18 issue of Bloomberg BNA's White Collar Crime Report, Internal Investigations & White Collar Defense Principal Peter D. Hardy and Associate Mehreen Zaman examine how virtual currency, like bitcoin, may become an option for tax evaders as offshore banking has become the focus of vigorous tax enforcement by U.S. officials.
Decriminalized Marijuana and the Promise of Legal Profits
In an April 2014 article for American Lawyer Media's Business Crimes Bulletin, Principal Barbara Rowland explores recent changes in the law surrounding use and distribution of marijuana. In particular, Ms. Rowland analyzes how models and standards from other highly regulated industries may help enterprises considering entry into the legal marijuana industry, including entrepreneurs and financial institutions.
Shot Across the Bow: Pennsylvania AG's Strict Liability Criminal Prosecution of Fracking Company
According to the Pennsylvania Attorney General's criminal complaint (click here to download), Exxon Mobil subsidiary XTO Energy was producing natural gas from two wells; the wells released toxic waste water to be stored in holding tanks; and, in November 2010, a state inspector found that the drain plugs were missing from 5 - 10 tanks which discharged about 57,000 gallons of waste water into the ground or a stream.
Sleepless Nights: Compliance Challenges Facing Today's Medical Device Executives
In an article in the May 3, 2013 issue of Pharmaceutical Compliance Monitor, Ron Levine examines the list of compliance challenges that medical device executives need to consider as they risk analyze to allocate compliance resources.