Citrin Cooperman was fined $200,000 by the Public Company Accounting Oversight Board for failing to meet PCAOB standards during its 2016 and 2017 year-end audits at an unnamed broker-dealer.
Kyle Brasseur
Posted inRegulatory Enforcement
Treasury sanctions first virtual currency mixer
The Department of the Treasury announced first-of-their-kind sanctions against virtual currency mixer Blender.io for its alleged role in a significant virtual currency heist carried out by a North Korean state-sponsored cyber hacking group.
Posted inRegulatory Enforcement
Wells Fargo in resolution negotiations regarding potential OFAC violations
Wells Fargo disclosed in a regulatory filing it has entered resolution discussions with a U.S. authority or authorities regarding potential sanctions violations it voluntarily self-disclosed to the Treasury Department’s Office of Foreign Assets Control.
Posted inEurope
Deutsche Bank confirms AML raid at German headquarters
Deutsche Bank confirmed its Frankfurt headquarters were raided by German prosecutors in relation to a money laundering probe regarding suspicious activity reports filed by the bank.
Posted inEurope
Danske Bank, authorities in ‘initial discussions’ regarding AML scandal resolution
Danske Bank has entered “initial discussions” with U.S. and Danish authorities on resolution regarding one of the world’s largest money laundering scandals that took place at its Estonia branch.
Posted inRegulatory Enforcement
‘The new FCPA’: Monaco stresses sanctions as top DOJ commitment
As part of a discussion at an industry event, Deputy Attorney General Lisa Monaco reiterated the Justice Department will prioritize the enforcement of sanctions the United States has placed on Russia following its invasion of Ukraine.
Posted inEurope
Credit Suisse continues executive shakeup with new general counsel
Credit Suisse announced its latest series of executive-level changes, including the appointment of UBS veteran Markus Diethelm as its new group general counsel.
Posted inAccounting & Auditing
FASB reference rate proposal seeks to extend LIBOR transition relief
The Financial Accounting Standards Board announced a proposed standard update that would defer for two years the end date of relief provided by transition guidance for businesses shifting away from the London Interbank Offered Rate.
Posted inAccounting & Auditing
Deloitte to pay $1.8M for goodwill testing failures in Mitie Group audit
The U.K. Financial Reporting Council announced a reduced penalty of 1.45 million pounds (U.S. $1.8 million) against Deloitte regarding goodwill testing failures during its audit of facility management company Mitie Group for fiscal year 2016.
Posted inAnti-Bribery
FinCEN advisory highlights Russian kleptocracy concerns
The Financial Crimes Enforcement Network issued an advisory offering red flag indicators of kleptocracy and foreign corruption, noting Russia as a country of “particular concern.”
