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Cybercrime Poses New Risks in Commercial Banking
A recent report calculated that small and medium-sized businesses and local government institutions are losing, on average, $100,000 to $200,000 per day to cybercriminals who perpetrate fraudulent electronic funds transfers. Typically, thieves send targeted phishing e-mails that trick users into disclosing banking log-in information or installing password-stealing malware that records their keystrokes and online banking credentials.
Armed with this sensitive data, thieves then seek to initiate unauthorized money transfers through the wire system and Automated Clearing House (“ACH”) (www.fms.treas.gov/ach/index.html) network. The stolen funds are often transferred to foreign accounts located in Eastern Europe or to “money mules” ' individuals recruited via “work from home” ads and directed to open bank accounts to receive and later transfer to the cyberthieves.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.